The Rise Of Esports Events And Tournaments Is Fueling The Growth Of The Global Esports Market


https://www.coherentmarketinsights.com/market-insight/esports-market-4191
Esports Market



Market Overview:

Esports refer to organized video gaming competitions, usually between professional players. These competitions feature multi-player video games that involve human interaction. Esports tournaments allow spectators to view the competitions through online live-streaming
platforms or physical venues. Organized esports events offer large prize pools and sponsorships for professional players and teams.

Market key trends:
One of the major trends driving the growth of the esports market is live streaming and viewing experience. Professional esports tournaments and leagues are live-streamed on popular platforms like Twitch and YouTube. This allows global audiences to watch matches and tournaments online. Live streaming has made esports accessible to a wider demographic beyond the core gamer community. Streamers on platforms like Twitch also contribute to the growing popularity of esports. Increased live streaming and viewing of esports is expected to fuel investments and revenue streams in the market over the forecast period.

The global Esports Market Demand is estimated to be valued at US$ 1,843.29 Mn in 2023 and is expected to exhibit a CAGR of 20% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis
The global esports market is segmented based on revenue source, games, devices and regions. Based on revenue source, the market is segmented into media rights, tickets and merchandise, sponsorships and direct advertisements and publisher fees. The media rights segment dominated the market in 2022 and is expected to continue its dominance over the forecast period. Esports events have started drawing huge crowds and major broadcasting deals are being signed, which is increasing the revenue from media rights for organizers.

Key Takeaways
The global esports market is expected to witness high growth, exhibiting CAGR of 20% over the forecast period, due to increasing popularity of esports worldwide and growing number of esports enthusiasts.

Regional analysis - Asia Pacific dominated the global esports market in 2022 and is expected to continue its dominance over the forecast period. Countries like China, South Korea and Japan have very active esports communities and hosting major international esports events is driving the market growth.

Key players operating in the esports market are Activision Blizzard, Inc., NVIDIA Corporation, Valve Corporation, Nintendo of America Inc., Riot Games, Inc., Epic Games, Inc., Tencent Holding Limited, Gameloft SE, Turner Broadcasting System, CJ Corporation and Electronic Arts Inc. and Others. The market is witnessing consolidation as major companies are acquiring smaller players to expand their esports offerings. For example, in 2022, Microsoft acquired Activision Blizzard to strengthen its position in the esports and gaming market.

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