A report on Esports Market has been appended into the market research report database of Reports and Insights, in recent times, that promises to offer a complete analysis to its readers on the growth forecasts and development prospects of the market, together with the potential business opportunities in the industry. The study, which emphasizes the most recent business dynamics, trends, growth drivers and opportunities that are impacting the market growth, also comprises the market size and the compounded average growth rate (CAGR) for the projected period 2023 and 2031. The report on Esports Market also incorporates an in-depth assessment on both the macro- and micro-environmental factors that are likely to impact the market growth over the forecast period. In addition to that, analytical tools such as Porter's five forces analysis and PESTEL analysis are utilized to reckon and gather the factors that are playing the role of the driving force for the growth of the market.

Esports Market Overview

The report is titled ‘Esports Market: Opportunity Analysis and Future Assessment 2023-2031’. An overview of conceptual frameworks, analytical approaches of the Esports market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The Esports market is expected to grow at a significant rate in the near future.

The global Esports market is estimated to reach at a value of US$ 1,070.3 Mn by the end of 2020 and expected to reach at a value of US$ 3,538.6 Mn by 2028 with a significant CAGR of 16.2%

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Esports Market Introduction

The gaming and Esports industry has turned into the mainstream in the past few years, switching over from a vivid niche to a primary form of entertainment all around the globe, and ticket sales are transforming from the field to the internet. Despite the fact that esports might have once stood for a subspace of sports culture, it has evolved into a complete industry of its own accord.

Although the subject of computer games on the whole is slightly becoming acknowledged and approved in the world of academics, the academic research of competitive computer gaming, more commonly known as Esports, is still in its early stages. Strangely enough, there is at present no customarily approved definition of the term ‘Esports’ at all.

Although, the basic definition of Esports can be, “a format of sports where the fundamental prospects of the sport are simplified by electronic systems; the data input of teams and players as well as the output of the Esports system are arbitrated by human-computer interfaces.” To put it in more practical terms, Esports basically pertain to competitive (amateur and pro) video gaming that is usually harmonized by various ladders, leagues, and tournaments, and where players generally belong to teams or other “sporting” organizations which are promoted by different business organizations.

Over the past few years, Esports (electronic sports) have evolved into one of the most swiftly flourishing forms of new media majorly driven by the rising emergence of (online) games as well as on stream broadcasting technologies.

Some of the key questions answered in this report: 

Which are the five top players of the Esports Market?
How will the Esports Market change in the upcoming years?
Which product and application will take a share of the Esports Market?
What are the drivers and restraints of the Esports Market?
Which regional market will show the highest growth?
What will be the CAGR and size of the Esports Market throughout the forecast period?
What is the current market size, what will the market size be in 2030 and what will the growth rate be?
What are the challenges to grow in the market?
What are the market opportunities and challenges faced by the key vendors?
Who are the major competitors and what is their strategy?
What are the barriers to entry for new players in the market?

Esports Market Dynamics

The expeditiously rising popularity and trend of video games among the population, especially the youth, all around the world is one of the primary factors that has driven the growth of the global Esports market. Whilst video games and the whole gaming industry has become a rapidly booming entertainment business, it is also favorably reshaping and modifying the way people interact and communicate with the virtual world.

In the present-day world, the video game industry encourages and triggers innovation by invariably stretching the boundaries of the probable possibilities, ultimately boosting market giants like Microsoft and Google to generate new technology in order to serve the millions of gamers around the globe. Owing to which, the global Esports market is projected to witness significant growth in the years to come.

The growing popularity of video games among children and youth across the world has also stimulated heavy investments by market giants and leading companies, which is also acting as a positive factor for the future growth of the global Esports market.

Moreover, the briskly emerging trend of live streaming of online games as well as the widespread reach of audiences all around the world is another major factor owing to which Esports market is expected to climb higher in the forthcoming years.

In addition to the rapidly surging population of video games, there has been soaring infrastructure for the league tournaments as well, which is further propelling the growth of the global Esports market in the near future.

By the same token, the increasing trend of mobile gaming, as well as shifting entertainment preferences of consumers and increased income levels of consumers has also given a huge breakthrough to the growth of the global Esports market.

Furthermore, the global pandemic of COVID-19 has compelled millions of billions of people around the globe to stay at home and spend more leisure time at home, where the entertainment business has jumped into action to capture the attention of billions of masses, with live-streaming of opera performances, concerts, museum tours and many more.

Attributing to such conditions, the influence on the video-game industry has been even bigger, as many took up the pastime or increased the amount of time they play. According to Verizon, an American multinational telecommunications conglomerate, the overall video-game internet traffic has escalated 75% subsequent to restrictions and regulations were imposed in America.

Remarkably, the market for Esports has developed by around 18% worldwide in the past 5 years. In a similar manner, the global Esports market is estimated to grow significantly in the coming years as well.

Key Benefits for Industry Participants & Stakeholders:

Industry drivers, restraints, and opportunities covered in the study
Neutral perspective on the market performance
Recent industry trends and developments
Competitive landscape & strategies of key players
Potential & niche segments and regions exhibiting promising growth covered
Historical, current, and projected market size, in terms of value
In-depth analysis of the Esports Market

Esports Market Segmentation

The global Esports market is segmented on the basis of revenue streams and region. On the basis of the revenue streams, the Esports market is segmented into Media Rights (Subscriptions, Online Advertisements), Tickets and Merchandise, Sponsorships and Direct Advertisements, Publisher Fees.

The research report classifies the global Esports market based on revenue streams and region.

By Revenue Streams

Media Rights

Subscriptions

Online Advertisements

Tickets and Merchandise

Sponsorships and Direct Advertisements

Publisher Fees

By Region

North America

Latin America

Africa

Europe

Asia Pacific

Middle East

Report Spotlights

Progressive trends in the Esports industry to help players develop effective long-term strategies
Business growth strategies adopted by companies to secure growth in developed and developing markets
Quantitative analysis of the global Esports market from 2023 to 2031
Estimation of the demand for Esports across various industries
Porter's Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the Esports industry
Recent developments to understand the competitive market scenario and demand for Esports
Market trends and outlook, and factors governing the growth of the Esports market
Understanding the strategies that underpin commercial interest with regard to the market growth, aiding in the decision-making process
Esports market size at various nodes of market
Detailed overview and segmentation of the market, as well as its industry dynamics
Esports market size in various regions with promising growth opportunities

Esports Market Key Players

The global Esports market is dominated by Modern Times Group, Activision Blizzard, FACEIT, Nintendo, Gfinity, Turner Broadcasting System, CJ Corporation, Valve Corporation, Tencent, and Electronic Arts (EA), among others.

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