Level up your expectations as the E-sports market takes the gaming world by storm! From pixels to power plays, witness the evolution of competition.

Video games are becoming more popular by each passing year and more gamers are finding their way into new trend called virtual world. As the name suggests, esports (electric sports) turns online gaming into a spectator sport. It mimics the experience of watching a professional sporting event, except instead of watching a physical event, spectators watch video gamers compete against each other. Gaming is no longer just a hobby for many. Professional gamers are finding their way into professional eSports and compete against each other in competitions for sometimes high prize money. Gaming and esports are two completely different things. Esport is defined as “the playing of video games on a competitive level with teams or individuals facing each other within leagues or in tournaments.” It describes the world of competitive, organized video gaming. Competitors from different leagues or teams face off in the same games that are popular with at-home gamers: Fortnite, League of Legends, Counter-Strike, Call of Duty, Over watch and Madden NFL, to name a few. These gamers are watched and followed by millions of fans all over the world, who attend live events or tune in on TV or online. Since its debut in the 1980s, e-sports has drawn increasing numbers of players and spectators. In 1980, the first official e-sports tournament took place in Los Angeles, when 10,000 gamers faced off in Atari’s Space Invaders Championship. Today, millions of people around the globe watch e-sports games. Modern technology allows gamers and streamers to play or watch from anywhere with an internet connection.

According to the research report, “Global E-sports Market Outlook, 2028” published by Bonafide Research, the market is anticipated to attain market size of USD 4380 Million by 2028, increasing from USD 1684.39 Million in 2022. The overall market is projected to grow with 17.52% CAGR for 2023-2028. With over 320 Million fans worldwide, esports is fast becoming a gaming mainstream industry. Increasing live streaming of games, formidable investments, rising audience reach, engagement activities, and infrastructure for league tournaments are the factors influencing the market growth. The profitable opportunities created by increasing professionalization in the industry for influencers, gamers, and event organizers, and game developers are driving the growth of the market. Millennials consider esports a professional career option, owing to the increasing popularity of gaming tournaments, one-to-one sponsorships, streaming revenues, and impressive international prize pools. Additionally, colleges and universities have started providing dedicated esports programs to develop skilled professionals.

According to the report, the global market is segmented into five major regions including North America, Europe, Asia-Pacific, South America and Middle East & Africa. Among them, Asia-Pacific market is anticipated to lead the market with more than 45% of the market share. Countries including China, Japan, and India are anticipated to experience robust demand considering the rapid shift on digital platforms for entertainment through sports events. The vast opportunities for the gaming and entertainment industry in Asia Pacific have surged the demand for electronic sports. Asia-Pacific is always been an attractive market for the gaming industry due to the growing youth population, ease of entry, and surging number of esports sponsors, spectators, and events from western countries. As for the North America and Europe, both the regions are expected to account for more than 42% of the market share. However, South America has a significant population interested in sports; hence, this is expected to fuel the business expansion opportunities. Considering the vast growth opportunities in the region, various brands and sports companies are investing in South American countries. Further, the market is segregated into various revenue streams including sponsorship, media rights, merchandise & tickets, publisher fees, digital and streaming. Among them, sponsorship segment leads the market with higher market share. The segment had more than USD 1005 Million market size in 2022. Sponsorships allow brands to reach their potential customers directly through online and offline media channels. Booths, interactive advertising, posters, freebies, video displays, and many additional creative methods enable the brand to target potential customers. Many leading brands such as Nvidia Corporation, Red Bull, BMW AG, The Coca-Cola Company, and U.S. Air Force have already established sponsorship deals with esports leagues and teams. On the other hand, the media rights segment is one of the significant revenue-generating segments. Media rights comprise all the revenue paid to teams, leagues, and event organizers to obtain the rights to broadcasting esports content on a channel. Media rights are anticipated to generate considerable revenue because of numerous individual leagues, championships, and events held on various streaming platforms regularly. Twitch Interactive, Inc. has the eminent platform for live streaming adopted by fans to watch major tournaments. Recently, Twitch had witnessed fans spending 24 Billion hours watching streamers in 2021. Additionally, in March 2022, Rooter Sports Technologies Private Limited acquired the media rights for all IPs of Sky Esports for one year. Based on the obtained data, streaming segment is projected to grow at a higher CAGR for 2023-28.

The global E sports market is further segmented into various device types including a mobile (smartphone, tablet, etc.), PC (laptop, desktop), gaming device (console, handheld devices) and other (VR, smart TV, etc.) Among them, mobile segment is leading the market in 2022 and is expected to continue its dominance during the forecast period due to improvements in game quality and internet usage by millennials. As of April 2022, there were more than five Billion internet users worldwide, which is around 63% of the global population.

Link t o full report: https://www.bonafideresearch.com/product/230149911/global-esports-market