Esports Market to Generate $4,758.99 Million, by 2030,

Wilmington, DE, November 8, 2023 (GLOBE NEWSWIRE) — A recent report published by Allied Market Research, called “Esports Market by Application (Platform, and Service), Streaming Type (Live, and On-demand), Device Type (Smart Phone, Smart TV, Desktop-Laptop-Tablets, Gaming Console), and Revenue Stream (Media Rights, Game Publisher Fee, Sponsorship, Digital Advertisement, Tickets, and Merchandise): Global Opportunity Analysis and Industry Forecast, 2020-2030″. According to the report, the global esports market is projected to reach $4,758.99 million by 2030. It recorded a value of $942.34 billion in 2020 and is anticipated to grow with a compound annual growth rate (CAGR) of 17.5% from 2021 to 2030.

Market drivers:

The rise in esports popularity and an increasing preference towards video games are considered key factors driving the global esports market. Additionally, an increase in the number of tournaments and events presents abundant investment opportunities moving forward. However, online threats like gambling and lack of standardization in online gaming events could impede market growth.

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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:

  • Nintendo
  • CJ Corporation
  • Activision Blizzard, Inc.
  • NVIDIA Corporation
  • Electronic Arts
  • Modern Times Group
  • Gameloft SE
  • Kabam
  • Gfinity

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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Allied Market Research (AMR) is a full-service market research and business-consulting subsidiary of Allied Analytics LLP based in Wilmington, Delaware. We offer unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions” to global enterprises as well as medium and small businesses. Our key aim is to enable our clients to make strategic business decisions and achieve sustainable growth within their respective market domains.

We maintain professional corporate relations with various companies, enabling us to extract market data that helps us generate precise research data tables and ensure maximum accuracy in our market forecasts. Allied Market Research CEO Pawan Kumar’s leadership and inspiration encourages everyone in the company to maintain high-quality data and assist clients in every possible way to achieve success. All the data presented in the reports we publish is extracted through primary interviews with top officials from leading companies in the domain concerned. Additionally, our methodology for obtaining secondary data includes profound online and offline research and discussions with professionals and analysts in the industry.

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