According to the report by Expert Market Research (EMR), the global esports market size reached a value of approximately USD 2.09 billion in 2023. Aided by the increasing interest in gaming and the rising global internet penetration, the market is projected to further grow at a CAGR of 16.50% between 2024 and 2032 to reach a value of USD 8.20 billion by 2032.
Esports is a form of competition involving video games, where players participate individually or as teams. Esports plays a critical role in fostering online competition, delivering entertainment, and shaping the digital sports industry. Apart from its entertainment attributes, esports possesses robust marketing potential, making it an essential platform for brands across industries, including telecommunications, technology, fashion, and beverages, to engage with a young and digitally savvy audience.
The increasing consumer interest in gaming is driving the global esports market growth. With the rising awareness of the benefits associated with strategic thinking, reflexes improvement, and teamwork nurtured through gaming, there has been a significant shift towards esports. Additionally, the escalating prevalence of mobile gaming, aided by the smartphone proliferation and improved internet accessibility, has led to a surge in demand for esports events and competitions.
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Furthermore, the rising trend of digitisation has propelled the popularity of esports as it provides a competitive platform in today’s digital age, propelling the esports market development. Notably, esports is progressively being recognised as a legitimate sport, with competitions taking place in dedicated esports arenas and even traditional sports venues, and some countries acknowledging esports players as professional athletes.
The broadening applications of esports across various industries significantly contribute to the esports market expansion. In the media and entertainment industry, esports is increasingly adopted for live broadcasts and streaming, with numerous dedicated esports television channels and online platforms. Moreover, in the education sector, universities have begun offering esports programs, scholarships, and constructing esports facilities, recognising the value of esports in promoting teamwork, strategic thinking, and digital literacy.
The rising sponsorship and advertising opportunities associated with esports also play a pivotal role in driving the esports market demand. Brands utilise esports platforms for product placement, event sponsorship, and influencer marketing, attracted by the young, diverse, and globally dispersed esports audience. Notably, the involvement of mainstream celebrities and athletes in esports, either as players or team owners, has further magnified the reach and appeal of the esports market.
Esports Market Segmentation
The market can be divided based on revenue streaming, streaming type, gaming genre, and region.
Market Breakup by Revenue Streaming
- Sponsorship
- Advertising
- Merchandise and Tickets
- Game Publisher Fees
- Media Rights
- Others
Market Breakup by Streaming Type
- Live
- On-Demand
Market Breakup by Gaming Genre
- Real-Time Strategy Games
- First-Person Shooter Games
- Fighting Games
- Multiplayer Online Battle Arena Games
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Esports Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global esports companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Activision Publishing, Inc
- Electronic Arts Inc.
- Gameloft SE
- Nintendo of America Inc.
- Skillz Inc.
- Motorsport Games Inc.
- Others
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