eSports Market Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027


Posted March 24, 2021 by shrushtig8975

Esports also styled as e-sports are a type of video game sports competition. Competitors from different teams participate in the same game.

 
Market Dynamics- Drivers
Rising popularity of video games is expected to drive growth of the global esports market during the forecast period
Video games have gained massive popularity over the years, especially due to the advent of novel products from video game console developers including Microsoft, Sony Interactive Entertainment, Nintendo, etc. Video gaming sector is changing rapidly from being a casual hobby to pass time to professional career opportunities. In fact, esports has gained similar traction and fixation to conventional sports. Massive esports tournaments are being organized across the globe with lucrative sponsors and significant investments from international brands. Furthermore, many celebrities endorse such tournaments with live streaming being the major source of viewing. As a result of this, the demand for esports and relevant products is increasing rapidly. Therefore, these factors are expected to drive growth of the global esports market during the forecast period.
Academic courses from universities for gaming is expected to propel the global esports market growth over the forecast period
Although gaming was considered a casual hobby in the past, over the years it has grown into a professional career option for many aspiring gamers. Many universities and colleges have started enrolment for professional gaming courses or esports degrees. For instance, in the U.S., over 100 high schools have started esports programs with conventional sports such as soccer and hockey.

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In fact, Becker College in Massachusetts, Ohio State University, and Shenandoah University, Virginal have started esports degree courses in their respective curriculum. Furthermore, many institutions offer scholarship for aspiring gamers, which is expected to boost esports popularity. Therefore, these factors are expected to propel the global esports market growth over the forecast period.
Market Dynamics- Drivers
Rising popularity of video games is expected to drive growth of the global esports market during the forecast period
Video games have gained massive popularity over the years, especially due to the advent of novel products from video game console developers including Microsoft, Sony Interactive Entertainment, Nintendo, etc. Video gaming sector is changing rapidly from being a casual hobby to pass time to professional career opportunities. In fact, esports has gained similar traction and fixation to conventional sports. Massive esports tournaments are being organized across the globe with lucrative sponsors and significant investments from international brands. Furthermore, many celebrities endorse such tournaments with live streaming being the major source of viewing. As a result of this, the demand for esports and relevant products is increasing rapidly. Therefore, these factors are expected to drive growth of the global esports market during the forecast period.
Academic courses from universities for gaming is expected to propel the global esports market growth over the forecast period
Although gaming was considered a casual hobby in the past, over the years it has grown into a professional career option for many aspiring gamers. Many universities and colleges have started enrolment for professional gaming courses or esports degrees. For instance, in the U.S., over 100 high schools have started esports programs with conventional sports such as soccer and hockey. In fact, Becker College in Massachusetts, Ohio State University, and Shenandoah University, Virginal have started esports degree courses in their respective curriculum. Furthermore, many institutions offer scholarship for aspiring gamers, which is expected to boost esports popularity. Therefore, these factors are expected to propel the global esports market growth over the forecast period.
Limited tournament infrastructure and fewer organizations are expected to restrain growth of the global esports market during the forecast period
Currently, there is limited tournament infrastructure available with fewer organizations operating in the market. Such limitations have led to restricted revenue streams for team owners and players. Such factors are expected to restrain growth of the global esports market during the forecast period.
Esports has witnessed significant investment in the recent past, providing a diverse range of opportunities for subsectors. Many esports companies have raised investments via traditional venture capital activities. For instance, in May 2020, BLAS, a Denmark-based tournament organizer secured funding of US$ 17.4 million, led by Rocket Software and Vækstfonden, a Danish investment fund firm. Such robust investment has led to increased opportunities for aspiring market players.
Increasing number of events with large prize pools can provide major business opportunities in the global esports market
Esports tournaments have started gaining more and more popularity among people, especially in emerging economies such as India and China. For instance, prize money for DOTA 2 tournament in 2020 was US$ 6 million, making it the highest-paid game in esports market. Furthermore, in 2020, CS:GO had prize money of US$ 4.9 million, making it the most active game in 2020. Such high prize money pools have increased the popularity of esports across the globe.
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Categories Biotech , Computers , Engineering
Tags eSports Market Size , eSports Market Outlook
Last Updated March 24, 2021