The global eSports market is expected to reach a revenue value of US$ 9.5 billion by 2033-end, up from its present worth of US$ 1.8 billion, thanks to an 18.1% CAGR.
In recent years, the rapid growth of technology and digital devices has resulted in the digitalization of many elements of human existence, and this trend is now expected to affect the sports business as well. Video games have evolved into complex immersive experiences that, to some extent, mirror actual sports, and the introduction of technology such as machine learning, virtual reality, and augmented reality has pushed these games to an entirely new level.
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“Increasing Popularity of Video Games and eSports Advertisements on Online Channels”
Increasing digitalization and Internet penetration have led to a growth in video game popularity, which can be attributed to altering advertising techniques. A growing variety of eSports streaming platforms that generate income through pay-per-view business models have increased global audience and are likely to raise eSports demand in the next years.
Competitive Landscape:
Top eSports companies are working on increasing their commercial potential by building new venues throughout the world.
Furia, a Brazilian eSports group, opened a new stadium in Miami, United States, in January 2023. This 5200 square-foot facility known as the ‘Furia Experience’ is part of the company’s efforts to increase its presence in the United States.
Key Players:
- Activision Blizzard Inc.
- Tencent Holdings Limited
- Twitch Interactive Inc.
- X1 Esports
- Sony Group Corporation
- Riot Games Inc.
- Caffeine
- DLive Entertainment Pte. Ltd.
- Entertainment Ltd.
- Loco
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Regional Analysis:
The Asia Pacific region is anticipated to provide a plethora of new opportunities for eSports businesses in the future owing to rapid urbanization and digitization trends in this region. Japan, Korea, China, and India are estimated to be some of the most lucrative markets for eSports companies in this region over the next ten years.
Initiatives to promote eSports participation among Asian people are expected to largely influence eSports popularity in Japan, Korea, and India. Korean organizations are taking steps to promote eSports on a global level by organizing new tournaments and events.
In December 2022, the International Esports Federation (IESF) based in South Korea announced that it had partnered with Big Bang Media Ventures (BBMVPL) to launch the Asia Open eSports Championship (Asia Open) that is being organized from 30th January 2023 to 15th March 2023.
Key Segments of Industry:
- By Age Group :
- 0 to 15
- 16 to 25
- 26 to 35
- More than 35
- By Revenue Stream :
- Sponsorships
- Advertising
- Media Rights
- Game Publisher Fees
- Merchandise & Tickets
- By Streaming Type :
- Live
- On-demand
- By Device Type :
- Smartphones
- Smart TVs
- Desktops
- Laptops
- Tablets
- Gaming Consoles
- By Gaming Genre :
- Real-time Strategy Games
- First Person Shooter Games
- Fighting Games
- Multiplayer Online Battle Arena Games
- Mass Multiplayer Online Role-playing Games
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