The global eSports market comprises companies that organize and monetize competitive video gaming, either as an individual contest or as a league. eSports differs from traditional sports in terms of physical exertion or venue, though similarities exist in organizer-viewer dynamics and sponsorship arrangements. Rising interest in video gaming along with significant prize pools and lucrative careers in professional gaming have led to rapid growth in participation and viewership of eSports events over the past decade.

The Global eSports Market is estimated to be valued at US$ 2123.48 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the eSports market are Saipem, Subsea 7 S.A., McDermott International, and TechnipFMC plc. Saipem and Subsea 7 are two of the largest offshore contractors offering a wide range of integrated services for offshore field developments, whilst McDermott and TechnipFMC specialize in subsea installations and pipelines. These companies have made strategic investments and partnerships to capitalize on growth opportunities arising from new offshore projects worldwide.

The rising popularity of mobile gaming and introduction of cloud gaming platforms are expected to present significant growth opportunities for eSports organizers and teams over the coming years. Additionally, tournaments featuring popular mobile games like Brawl Stars, Clash of Clans, and PUBG Mobile have seen rapid growth in viewership on streaming platforms like YouTube and Twitch.

North America currently dominates the global Esports Market Growth owing to early adoption and large fanbase. However, the Asia Pacific region is anticipated to witness fastest growth owing to rising disposable incomes, youth demographics and government initiatives in countries like China, South Korea and Japan which have made significant investments to promote eSports. Major tournament organizers are also exploring opportunities to expand franchise leagues to tier 2 markets like Southeast Asia and Latin America.

Market Drivers and Restrain

One of the key drivers for the growth of the eSports market has been the rapidly growing participation in video gaming and eSports events globally. Various reports estimate that around 3 billion people worldwide now play video games, with esports viewership expected to exceed 600 million by 2023. The introduction of robust digital infrastructure and access to high-speed internet across major markets has enabled seamless broadcasting of competitive gaming events to a global audience.

However, the limited traditional sports recognition of eSports in some regions remains a key challenge. While competitive gaming is rapidly gaining mainstream acceptance, conservative attitudes around treating gaming as a true professional sport in parts of Asia and Europe could hinder further participation and funding. Additionally, concerns around gaming addiction and impact on public health also act as a restraint, though ongoing research provides mixed conclusions on such effects.

Segment Analysis
The eSports market is segmented into two main categories based on the revenue streams: sponsorship and media rights, and advertising & ticketing. Sponsorship and media rights segment generated the highest revenues in 2021 with sports apparel and hardware makers being the dominating sub-segment in this category. This sub-segment dominates as manufacturers of gaming hardware and apparel see eSports as an effective channel for promoting their brands and increasing product sales among the avid gamer demographic globally.

Global Analysis
Regionally, Asia-Pacific was the most dominant region in the global eSports market in 2021 owing to higher number of tournaments and events held in this region. China, South Korea, and Japan are the key countries leading the APAC eSports market growth. This is because of availability of leading eSports infrastructure and growing popularity of games like Dota-2, Fortnite, League of Legends etc. North America was the second largest region due to presence of many domestic and international tournaments, sponsorships and media partnerships in this region. The United States has become a hub for many leading gaming publishers, developers, streamers, and franchise tournaments. Growing popularity of games like Overwatch, CS:GO, and Apex legends are further boosting the eSports market growth in North America.

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