Navigating the eSports Landscape: A Comprehensive Analysis of 2024

The global eSports market is worth US$ 3.41 Bn as of now and is expected to reach US$ 18.65 Bn by the year 2032 at a thumping CAGR of 21.5% from 2022 to 2032.

With increase in frequency of live streaming of sports, expanding reach of audience, noteworthy outlays, engagement initiatives, and expanse of networks for league competitions, the global eSports market is bound to grow unabated in the next 10 years. The field of sports is turning out to be more specialized day after day, which is generating opportunities for players, influencers, game creators, and event planners. With huge prize funds at the global level, the youth is looking at eSports as one of the most promising career opportunities. Plus, universities have started doling out specific eSports programs for attracting talented workers.

The major sources of income for eSports include media rights, products, tickets, direct marketing, sponsorships, and publisher charges. Besides, Ads and sponsorships are amongst the primary income channels showing an ever-increasing demand since the last few years, as far as revenue-generating resources are concerned.

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Competitive benefits offered by eSports include option of choosing teams, organizations, and athletes that are way beyond the geographical barriers. It is also capable of interacting with non-conventional media. The main entities regarding eSports sector are inclusive of organizers, distributors, and creators. Marketers are in-charge of distribution and advertising, whereas developers conceptualize the idea of the game.

Video games are actually altering the way engagements happen in digital environment these days. They are, in fact, much more than just a thriving entertainment industry. It has been observed that gaming business promulgates creativity by pushing the upper limits with respect to achievements. Microsoft and Google are developing novel technologies for serving zillions of players across the globe. Video games at the forefront include Counter-Strike, League of Legends, PUBG, Fortnite, and likewise. Also, the current scenario is such that participants are willingly accepting pay-to-play concepts as well as money transfers. There are loads of online game marketers and also reviewers assisting lovers of gaming in eSports market.

Premium streaming sites are trending at the moment and likely to be advantageous for online gaming businesses like Electronic Arts and Ubisoft by curtailing expenses related to gaming systems. All these factors are bound to take the eSports market by storm in the forecast period. However, lack of standardization regarding eSports worldwide is likely to restrain the market. Future Market Insights has walked though these facts with insights in its latest market study entitled ‘eSports Market’.

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Key Takeaways from eSports Market

North America holds the largest market share due to it being subject to incorporation of 5G data connection, followed by Europe.
The Asia-Pacific is expected to witness the fastest growth in the eSports market in the forecast period. This could be credited to the fact that eSports is declared an official sport in China. South Korea is already a well-established nation on the count of eSports. It has a well-built infrastructure for gaming houses, trainers, chefs, and researchers.
By revenue source, sponsorship dominates the market.
BY application, platforms lead the market.
By platform, smartphones rule the market.

“Millennials look upon eSports as a profession due to highly impressive global prize tools, thereby driving the eSports market”, says an analyst from Future Market Insights.

Competitive eSports Market

Twitch Interactive, Inc. has an exclusive platform for ‘live streaming’, which the fans have adopted for watching major tournaments. Twitch had, of late, witnessed the fans investing 24 Bn hours watching the streamers in the year 2021.
Rooter Sports Technologies Pvt. Ltd., in March 2022, acquired media rights for every IP of Sky Esports for a year. Sky Esports is one of the leading organizers of sports tournaments in South Asia.
Korean Esports Association (KeSPA), in April 2022, inked a 3-year sponsorship deal with SK Telecom, so as to render the latter KeSPA’s official sponsor.
FanClash was launched for start-ups in 2020 by Rishabh Bhansali and Richa Singh – both from IIM-A. It makes provision for rendering fantasy sports experience for eSports.

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What does the Report Cover?

Future Market Insights offers an exclusive perspective and various real-time insights on the eSports market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
The research study is based on application (platform and service), by streaming type (on-demand and Live), by device type (smartphone, smart TV, desktop, laptop, tablets, and gaming console), and by revenue stream (media rights, game publisher fee, sponsorship, digital advertisement, and tickets and merchandise).

Market Segmentation

By Application: