Esports Market to Surge $5.17 Billion by 2029
According to Arizton's latest research report, the esports market is growing at a CAGR of 17.48% during 2023-2029.
Report Scope:
Market Size (2029): USD 5.17 Billion
Market Size (2023): USD 1.96 Billion
CAGR (2023-2029): 17.48%
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Market Segmentation: Revenue, Game, Platform and Geography
Geographical Analysis: North America, Europe, APAC, Latin America, and Middle East & Africa
The Rapid Growth and Economic Potential of the Esports Market
The esports industry is experiencing rapid growth, driven by technological advancements and increasing global interest. With a projected audience of 640 million by 2025, esports is becoming a dominant force in entertainment. Mobile gaming, powered by 5G and enhanced hardware, is a major contributor to this growth, while major companies like Netflix, Apple, and Disney are entering the gaming sector. Innovations such as cloud gaming and new streaming services by companies like NVIDIA and Microsoft are further pushing gaming boundaries.
Esports offers significant economic opportunities through various revenue streams, including sponsorships, merchandising, ticket sales, advertising, and media rights. As the industry expands, strategic partnerships are helping brands engage with a youthful, global, and digital-savvy audience. Examples include collaborations like Vodafone Idea and Team Vitality in India, and KFC's partnership with the Saudi Esports Federation (SEF), which aims to elevate Saudi esports talent. Notable regional developments include the Red Bull Gaming Hub in Toronto and the Ontario government's esports scholarship initiative, which support local talent growth.
Esports' increasing mainstream presence underscores its immense potential as both an entertainment and investment opportunity globally.
Growing Sponsorship and Partnerships Booming the Esports Industry
The esports industry is seeing a surge in sponsorships and partnerships, driven by major international tournaments like The International (Dota 2) and the League of Legends World Championship, as well as collaborations between esports and traditional sports organizations. Advances in technology, such as high-speed internet and streaming platforms, are also fueling industry's growth.
In May 2024, several prominent brands, including HSBC, Porsche, Land Rover, Revolut, and Cisco, further solidified their investments in esports. HSBC renewed its partnership with GIANTX, focusing on promoting financial literacy to younger audiences. Porsche collaborated with the Overwatch Championship Series at Dreamhack Dallas Major to engage with tech-savvy fans in the esports community. Additionally, Swedish esports organization 9INE partnered with betting company LEONBET, integrating betting and interactive content to enhance fan engagement.
These high-profile partnerships signal the increasing mainstream appeal of esports, as traditional companies tap into its vast potential to reach younger, digitally-savvy audiences, further establishing esports as a lucrative and evolving industry.
North America Dominance in the Global Esports Market
North America remains the largest region for esports, holding a 44.25% share of the global market. The region has seen significant investments from game publishers, venture capitalists, and traditional media, contributing to the industry's rapid growth. The rise of esports competitions, from the Nintendo World Championship in the 1990s to major events today, has fueled the sector's expansion.
The U.S. continues to lead the market, with esports events linked to major sports leagues like the NFL, MLB, and NBA. Additionally, streaming platforms such as Twitch, YouTube Gaming, and Facebook Gaming have revolutionized how esports content is consumed, offering gamers a global platform to showcase their skills.
Canada is also experiencing notable growth, with cities like Toronto and Vancouver playing key roles in developing a thriving esports ecosystem. The region's emphasis on technology and innovation has further bolstered the sector's growth, positioning North America as the epicenter of the global esports industry.
Key Company Profiles
Electronic Arts Inc.
ESL FACEIT Group
Microsoft
Sony Group Corporation
Take-Two Interactive Software
Tencent
100 Thieves
Aksys Games
Bandai Namco Entertainment
Capcom
Cloud9 Esports
Crytek
Deep Silver
Fnatic Ltd
Frenzy Arena
G ESPORTS HOLDING
GAIMIN GLADIATORS
Gameforge
Com2uS Holdings
Gen.G Esports
Hi-Rez Studios
HUYA Inc.
Kabam
Karmine Corp
Kinguin.net
Konami Holdings Corporation
NCSoft
Neowiz Games
Nintendo
Nival
NRG
Sega
SK Telecom CS T1 Co
Space Station Gaming
Super Evil Megacorp
Talon Esports
Twitch Interactive
Valve Corporation
Wargaming Group Limited
Market Segmentation
Revenue
Sponsorships
Advertisements
Media Rights
Game Publisher Fee
Merchandise & Tickets
Game
Multiplayer Online Battle Arena (MOBA)
Player versus Player (PvP)
First-person shooter (FPS)
Real-Time Strategy (RTS)
Massive Multiplayer Online Game (MMOG)
Platform
Console
PC
Mobile & Tablets
Geography
North America
The U.S.
Canada
APAC
China
South Korea
Japan
India
Australia
Vietnam
Europe
The U.K.
France
Germany
Italy
Poland
Spain
Sweden
Latin America
Brazil
Mexico
Argentina
Chile
Middle East & Africa
The UAE
Saudi Arabia
South Africa
Egypt
The Arizton Advisory & Intelligence market research report provides valuable market insights for industry stakeholders, investors, researchers, consultants, and business strategists aiming to understand the esports market market thoroughly. Request for Free Sample to get a glance at the report now:
What Key Findings Will Our Research Analysis Reveal?
What is the growth rate of the global esports market?
Which region dominates the global esports market share?
How big is the global esports market?
What are the significant trends in the esports market?
Who are the key players in the global esports market?
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