esports market

The Esports market was valued at USD 2.0 Billion in 2020, and it is expected to reach a value of USD 7.2 Billion by 2027, at a CAGR of 24.83% over the forecast period (2020 - 2027).

The esports market will register positive growth due to the rising demand from millennials and the younger generation. Furthermore, rising investments, increasing audience reach, and live streaming of major sports tournaments are additional factors driving the growth of the market. The year 2020 led to the development of mobile esports, especially in the Asia Pacific region. Moreover, live esports is now becoming popular and recorded more than 12 million viewers.

Professionalization in the industry has created lucrative opportunities for game developers, gamers, influencers, and event organizers. Millennials are considering esports as a professional career owing to the rising popularity of gaming tournaments. Moreover, educational institutions have started dedicated esports curriculum to develop skilled professionals.

This report provides in-depth analysis of Global Esports market. We have analyzed 20+ data points that include product price trends, consumer purchase patterns, company annual sales performance, COVID-19 impact on distribution channels, parent industry performance, regional trends, and technological innovations, for tracking the Global market size and performance in the recent years.

Global Esports Market: Impact of COVID 19

The Covid-19 pandemic led to the cancellation of several tournaments and leagues, thus impacting the esports market. The organizers are now hosting the event in a closed stadium, streaming it online for the audiences. The industry will witness modest growth in 2020. For instance, Organizers canceled the Pokémon Championship Series, Combo Breaker, and EPICENTER Major 2020. As a result, the revenue from merchandise and ticket sales declined.

Global Esports Market: Competitive Landscape

The market is characterized by the presence of a few well-established players. New product launches, partnerships and investing in research & development have been a key business strategy. Some of their recent developments are as follows:

• In March 2021, Electronic arts partnered with Sliver rains game, to provide its gamers with a seamless user experience, with bold and creative games.
• In October 2019 Electronic Arts Inc., in partnership with Fédération Internationale de Football Association (FIFA), announced the launch of the EA SPORTS FIFA 20 Global Series on The Road to the FIFA eWorld CupTM.
• In 2019, South Korean telecom operator SK Telecom Co., Ltd. partnered with Comcast Corporation to form an esports company. Such developments and initiatives are expected to propel the industry growth.