eSports Market By Age Group (0-15, 16-25, 26-35, More than 35), By Revenue Stream (Sponsorships, Advertising, Media Rights, Game Publisher Fees, Merchandise & Tickets), By Streaming Type (Live, On-demand), By Device Type (Smartphones, Smart TVs, Desktops, Laptops, Tablets, Gaming Consoles), By Gaming Genre (Real-time Strategy Games, First Person Shooter Games, Fighting Games, Multiplayer Online Battle Arena Games, Mass Multiplayer Online Role-playing Games) & Region – Global Market Insights 2023
Analysis of eSports Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
eSports Market Outlook (2023 to 2033)
Expanding at a prolific CAGR of 18.1%, the global eSports market is forecasted to attain a revenue value of US$ 9.5 billion by 2033-end, up from its current valuation of US$ 1.8 billion.
The high proliferation of technology and digital devices has resulted in the digitization of several aspects of human life in recent years, and now, this trend is projected to shape the sports industry as well. Video games have evolved into advanced immersive experiences that mimic actual sports to a certain extent, and the advent of technologies such as machine learning, virtual reality, and augmented reality has taken these games to a whole new level.
F1 eSports is a tournament that has witnessed an exponential rise in popularity in recent years and is projected to become a highly lucrative and popular eSports segment over the decade. eSports are becoming the future of the sports industry and are expected to gain further impetus as technology advances and the world becomes more digitized than ever before.
Increasing use of smart devices, growing disposable income, the rising popularity of new eSports platforms, supportive initiatives and attractive incentives associated with eSports participation and viewing, and increasing recognition of eSports personalities are other aspects that are anticipated to potentially benefit overall market evolution across the forecast period.
On the flip side, addiction and health concerns associated with eSports are expected to have an inhibiting effect on the global market evolution over the next ten years. Psychological risks associated with prolonged exposure to computer monitors and physical disorders stemming from sedentary lifestyles are also expected to hurt the popularity of eSports on a global level in the long run.
A detailed account of all new developments and current and forecasted pricing trends affecting global market growth has been listed in this latest eSports research survey by Fact.MR, a market research and competitive intelligence provider.
eSports Market Size (2023)
US$ 1.8 Billion
Projected Market Value (2033F)
US$ 9.5 Billion
Global Market Growth Rate (2023 to 2033)
North America Market Share (2023)
Key Companies Profiled
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What Aspects are Set to Uplift Market Development in the Future?
“Increasing Popularity of Video Games and Advertise ments of eSports on Online Channels”
Increasing digitization and growing penetration of the Internet have led to the increased popularity of video games, which can be ascribed to changing advertising trends. A growing number of eSports streaming platforms offering revenue generation through pay-per-view business models have resulted in increasing viewership across the world and are expected to boost demand for eSports over the coming years.
Moreover, the frequent launch of new video games in multiple genres is also expected to create a lucrative business scope for eSports brands going forward.
“Supportive Initiatives to Promote Popularity of eSports”
Governments across the world are trying to promote eSports as they have immense potential for commercialization and revenue generation. Several governments are launching supportive initiatives that help eSports companies and are also collaborating with many established names in the marketplace to bolster revenue generation through electronic sports.
- In January 2023, the Ministry of Youth and Sports in Malaysia announced the launch of a new eSports Ecosystem survey that will help the government to collect data on this matter and decide future policies related to it. This online survey is open to all Malaysians and will evaluate the popularity of eSports among people at length.
How are Start-ups Gearing Up to Satisfy Increasing Global Demand for eSports?
“Capital Raised through Finance Rounds to Be Prime Focus of New eSports Companies”
eSports start-ups are focusing on raising capital to compete in the highly investment-intensive marketplace and establish a strong foothold among other market players.
- In November 2022, an India-based eSports start-up called Gamerji announced that it had raised US$ 3 million in a Pre-Series A funding round that was led by Unicorn India Ventures and GVFL. The company allows gamers to host and compete in eSports tournaments.
- In August 2022, Regression Games, an eSports company founded by Aaron Vontell bagged US$ 4.2 million in a seed round that was led by New Enterprise Associates (NEA), a global venture capital firm. The AI-focused organization was expected to use the capital to expand its engineering team.
- In June 2022, FanClash, an Indian start-up founded in 2020 announced that it had secured US$ 40 million in a Series B funding round led by Alpha Wave Global. The company aims to focus on core eSports tournaments that have a large fanbase in India but go unnoticed owing to a lack of data and fantasy layers.
- In March 2022, Ampverse, a Singaporean eSports start-up operating on a play-to-earn business model announced that it had raised US$ 12 million in a Series A funding round that was led by Falcon Capital. This was the largest Series A funding nabbed by an eSports organization in the Southeast Asian region at the time.
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Which Country is a Remunerative Market for eSports in North America?
“United States Offers Highly Attractive Growth Scope for eSports Companies”
The popularity of eSports in the U.S. is rising at a rapid pace and this can be ascribed to high technological proliferation in the country and the presence of key eSports companies. High consumer spending potential, organization of new eSports tournaments, and increasing investments in research and development of new and advanced video games.
Increasing investments in the eSports industry by game developers, broadcast networks, and players are also projected to uplift market development in the country across the forecast period. Ice hockey and fantasy basketball are anticipated to witness a hike in popularity in the country over the coming years.
Efforts to develop a substantial eSports ecosystem for gamers are spawning the establishment of eSports clubs in high schools and colleges and this is also projected to boost market growth in the country throughout the forecast period. Moreover, the legalization of betting on eSports in some states of the U.S. is also expected to open up new avenues of opportunity for established as well as upcoming eSports brands.
- The state of Ohio in the U.S. announced legalized betting on widespread sports and eSports starting from January 2023. Companies licensed to operate in the state have started their operations in Ohio and this is expected to provide impetus to online betting and the eSports market in the country.
Will Japan & Korea be Investment-worthy Markets for eSports?
“Initiatives to Promote eSports Opening up New Avenues of Business for eSports Brands”
The Asia Pacific region is anticipated to provide a plethora of new opportunities for eSports businesses in the future owing to rapid urbanization and digitization trends in this region. Japan, Korea, China, and India are estimated to be some of the most lucrative markets for eSports companies in this region over the next ten years.
Initiatives to promote eSports participation among Asian people are expected to largely influence eSports popularity in Japan, Korea, and India. Korean organizations are taking steps to promote eSports on a global level by organizing new tournaments and events.
- In December 2022, the International Esports Federation (IESF) based in South Korea announced that it had partnered with Big Bang Media Ventures (BBMVPL) to launch the Asia Open eSports Championship (Asia Open) that is being organized from 30th January 2023 to 15th March 2023.
Meanwhile, Japan is also focusing on milking the eSports industry by taking steps to promote its popularity and constructing spaces to transform the competitive gaming landscape in the country.
- In April 2022, Japan witnessed the inauguration of its largest eSports park spanning across three floors at the base of Tokyo Tower. The new space offers a competitive arena for eSports enthusiasts and equips them with the latest games and simulators to test their skills.
How Will the eSports Market Fare across Europe?
“Incentives to Engage in eSports to Boost Market Development in European Countries”
European countries are anticipated to emerge as highly opportunistic markets for eSports companies across the forecast period and this can primarily be associated with growing audience numbers for eSports. The high popularity of football, Formula 1, and other sports in European countries is also expected to create attractive growth scope for eSports organizations in this region.
Increasing per capita disposable income, incentive programs for viewers and players, and the growing popularity of fantasy sports are other prospects that could favorably boost market potential in countries such as Germany, France, and the United Kingdom through 2033. F1 eSports is highly popular in the European region and this is what prime companies are expected to capitalize on over the coming years.
Which Revenue Stream is Popular in the eSports Marketplace?
“Media Rights Account for Major Share in Global Market”
Based on revenue streams, the market for eSports is segmented into sponsorships, advertising, media rights, game publisher fees, and merchandise & tickets.
Increasing investments from media companies in the eSports industry are expected to prominently help the media rights segment to account for a dominant market share in the marketplace at present and over the coming years as well. An increasing number of viewers and growing awareness about eSports in several countries across the world are other prospects that make media rights an important revenue stream for eSports companies.
Collaborations and partnerships between eSports tournament organizers and media broadcast companies are also expected to favor growth in this segment over the next ten years.
Prime eSports companies are focusing on expanding their business potential through the opening of new venues across the world.
- In January 2023, Furia, a Brazilian eSports organization, opened up a new venue in Miami, United States. This 5200 square-foot establishment dubbed as 'Furia Experience' is part of the company’s efforts to expand its presence in the U.S.
Key Segments Covered in eSports Industry Research
By Age Group :
- 0 to 15
- 16 to 25
- 26 to 35
- More than 35
By Revenue Stream :
- Media Rights
- Game Publisher Fees
- Merchandise & Tickets
By Streaming Type :
By Device Type :
- Smart TVs
- Gaming Consoles
By Gaming Genre :
- Real-time Strategy Games
- First Person Shooter Games
- Fighting Games
- Multiplayer Online Battle Arena Games
- Mass Multiplayer Online Role-playing Games
By Region :
- North America
- Latin America
- Asia Pacific & China
- Middle East & Africa
- FAQs -
The global eSports market stands at a US$ 1.8 billion valuation in 2023.
Demand for eSports is projected to account for a market value of US$ 9.5 billion by 2033-end.
From 2023 to 2033, the market for eSports is projected to expand at a stellar 18.1% CAGR.
North America accounts for more than 35% of the global market share at present.
Tencent Holdings Limited, Twitch Interactive Inc., X1 Esports, and Sony Group Corporation are key eSports companies.