Esports Market Projected to Reach USD 5,743 Million by 2030, Growing at a CAGR of 21.9%: Straits Research Report

The global Esports market has been growing at a rapid pace, and according to Straits Research’s latest market report, the industry was valued at USD 1,178 million in 2021. Projections show that this market is set to grow from USD XX million in 2022 to USD 5,743 million by 2030, expanding at a remarkable CAGR of 21.9% during the forecast period from 2022 to 2030. The increasing popularity of competitive gaming, along with growing investments and the expansion of streaming platforms, are expected to drive this growth.

Drivers of Growth in the Esports Market

The Esports industry has gained substantial momentum in recent years due to several key factors that have created a conducive environment for its expansion. Some of the most notable drivers of growth include:

1. Increasing Viewership and Global Audience: As Esports has transcended beyond niche communities, it has garnered an enormous global audience. Major tournaments and leagues are attracting millions of viewers worldwide, offering lucrative sponsorship and media rights deals.

2. Rise of Streaming Platforms: The rise of platforms like Twitch, YouTube, and other regional platforms such as DouYu and Huya has contributed significantly to the growth of Esports. These platforms allow gamers to stream their content to millions of fans, facilitating interaction and engagement in real-time.

3. Corporate Sponsorship and Media Rights: Leading brands from various sectors, including technology, automotive, telecommunications, and consumer goods, are heavily investing in Esports sponsorships and media rights deals. These partnerships are creating a substantial revenue stream for both Esports teams and event organizers.

4. Increasing Gaming Infrastructure and Technological Advancements: The improvement in gaming infrastructure, the adoption of high-performance gaming devices, and advancements in cloud gaming technologies have enhanced the overall Esports experience, making it more attractive to participants and audiences alike.

5. Growing Popularity of Competitive Gaming: Esports has evolved from being a hobby to a full-fledged professional career option for many players and influencers. This professionalization of gaming has attracted more participants, further fueling its growth in both emerging and developed markets.

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Key Developments in the Esports Market

The Esports market continues to evolve rapidly, with major developments taking place across several areas of the industry. Notable developments include:

• Increased Investment in Esports Infrastructure: Large tech companies and gaming giants are investing heavily in building infrastructure to support Esports events, including dedicated Esports arenas, production studios, and better gaming equipment to enhance both player performance and audience engagement.

• Expansion of Esports in Education and Training: With the rise of Esports as a legitimate career path, universities and colleges worldwide have started offering Esports scholarships, and dedicated training programs aimed at fostering the next generation of professional players.

• Rise of Esports Betting and Fantasy Esports: The integration of Esports betting into mainstream sports betting platforms has gained popularity, creating new revenue streams for the industry. Fantasy Esports has also emerged as a key component, allowing fans to engage with the games on a deeper level.

• Convergence with Traditional Sports: Esports has seen increased partnerships with traditional sports organizations, including collaborations with major sports leagues and teams to tap into the growing digital and esports fanbase.

• Technological Integration: The introduction of virtual reality (VR) and augmented reality (AR) technologies into Esports events has enhanced the gaming experience, offering more immersive and interactive fan experiences.

  Market Segmentation: https://straitsresearch.com/report/esports-market/segmentation

Segmentation Analysis of the Esports Market

The Esports market can be segmented in various ways, each contributing to the market’s robust growth.

1. By Revenue Model:

   • Media Rights: As more broadcasters vie for Esports content, media rights have emerged as one of the biggest sources of revenue.
   • Advertising and Sponsorships: Corporate sponsorships and advertising deals continue to be a primary source of income for Esports tournaments and gaming influencers.
   • Merchandise and Tickets: The sale of official merchandise and event tickets has grown significantly, especially with the popularity of Esports events.
   • Others: Additional revenue sources include game sales, licensing, and in-game purchases.

2. By Streaming Platform:

   • Twitch: As the leading platform for Esports streaming, Twitch has dominated the market, with millions of users watching competitive gaming events.
   • YouTube: YouTube’s massive audience and integration of live streaming have made it a key player in the Esports broadcasting ecosystem.
   • Others (DouYu and Huya): Regional platforms like DouYu and Huya (mainly popular in China) are rapidly expanding their Esports broadcasting services.

3. By Device Type:

   • Smartphones: With mobile gaming growing exponentially, smartphones have become an essential device for both casual and competitive gaming.
   • Smart TVs: The rise of Esports-specific TV channels has increased the popularity of Smart TVs for watching live competitions.
   • Desktops and Laptops: Traditional gaming devices remain popular for professional gamers and streamers.
   • Tablets: Tablets are becoming an increasingly common device for casual gaming.
   • Gaming Consoles: Popular gaming consoles such as PlayStation, Xbox, and Nintendo Switch are also significant in the Esports ecosystem.

4. By Gaming Genre:

   • Real-Time Strategy Games (RTS): Titles such as Starcraft and Age of Empires have historically been popular in competitive Esports.
   • First-Person Shooter Games (FPS): Games like Call of Duty and Overwatch are staple genres in Esports.
   • Fighting Games: Popular titles like Street Fighter and Mortal Kombat have established dedicated Esports leagues.
   • Multiplayer Online Battle Arena (MOBA) Games: League of Legends and Dota 2 are two of the most iconic Esports games.
   • Mass Multiplayer Online Role-Playing Games (MMORPG): Games such as World of Warcraft have also seen competitive scenes and tournaments.

     Table of Contents for the Esports Market Report: https://straitsresearch.com/report/esports-market/toc

Top Key Players in the Esports Market

The Esports industry is home to several globally recognized companies that are contributing significantly to the market's growth. Key players include:

1. Modern Times Group
2. Activision Blizzard Inc.
3. Electronic Arts Inc.
4. Riot Games Inc. (Tencent Holdings Ltd)
5. Epic Games Inc.
6. Gfinity PLC
7. FACEIT
8. Capcom Co. Ltd
9. Valve Corporation
10. Nintendo Co. Ltd
11. iRacing

These companies play a crucial role in shaping the Esports landscape, from creating iconic games to organizing tournaments and shaping the overall gaming culture.

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