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Platform segment holds the largest market share
In terms of components, the platform segment garnered the largest market share in 2020, accounting for more than two-thirds of the global Esports industry. This is mainly attributed to the increasing adoption of Esports across developing and developed nations for gaining a competitive advantage. Conversely, the services segment is expected to register the highest CAGR of 18.6% from 2021 to 2030, due to growing preference for online gaming.
On-demand segment to maintain dominance
With regards to streaming type, the on-demand segment held the dominant market share in 2020, comprising three-fifths of the global Esports market. This is primarily due to the numerous advantages provided by streaming-type segments like superior quality gaming, advanced security of gaming ID, comprehensive customization, and more. Conversely, the live segment is anticipated to exhibit the fastest CAGR of 19.5% during the forecast period from 2021 to 2030. This is owing to the increasing adoption of live streaming for Esports.
Asia-Pacific, followed by North America to dominate the market by 2030
Geographically, Asia-Pacific, succeeded by North America, held the majority market share in terms of revenue in 2020, contributing to nearly two-fifths of the global esports sector. The Asia-Pacific region is predicted to maintain its leadership, with a CAGR of 19.5% from 2021 to 2030. This is mainly owing to continuous technological advancements and rapid progress in the gaming sector.
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Key players in the market:
- CJ Corporation
- Activision Blizzard, Inc.
- NVIDIA Corporation
- Electronic Arts
- Modern Times Group
- Gameloft SE
Significant industry developments:
November 2023: Melbourne Victory, an Australian football club, partnered with KICK, a rapidly growing streaming platform similar to Twitch. This partnership aims to incorporate the club’s participation in the E-League and create other initiatives, allowing fans to engage with the platform and participate in EAFC 24 competitions.
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