eSports market to reach $9.1 billion by 2031, report
The eSports market is anticipated to reach $9.1 billion by 2031, at a Compound Annual Growth Rate of 21.8% from 2024 to 2031. This is according to a report by Meticulous Research.
eSports, short for electronic sports, is a form of competitive gaming where players or teams compete in video games at a professional level. These competitions are typically organized into leagues, tournaments, and events, attracting both online and offline audiences.
The eSports industry generates revenue through various channels, including sponsorships, advertising, media rights, ticket sales, and merchandise. It also provides opportunities to target specific demographics, engage audiences interactively, and achieve significant brand exposure through sponsorships.
eSports encompasses a wide range of genres, including real-time strategy (RTS), first-person shooters (FPS), multiplayer online battle arenas (MOBA), and sports simulation games.
The growth of this market is driven by the rising interest in eSports tournaments and events and the ease of entry for new players. However, the low awareness of eSports restrains this growth.
Moreover, sponsorships and partnership opportunities for eSports organizations and initiatives aimed at professionalizing eSports are expected to offer growth opportunities for market stakeholders. However, the limited professional prospects for eSports teams in emerging markets pose a significant challenge to the market's growth.
Furthermore, the rising interest in mobile gaming and the increase in content streaming among eSports professionals are significant trends within this market.
Key Players
Some of the key players operating in the eSports market are TaKeTV GmbH (Germany), Activision Blizzard, Inc. (U.S.), Nintendo of America Inc. (U.S.), Sony Interactive Entertainment Inc. (U.S.), Take-Two Interactive Software, Inc. (U.S.), Gfinity PLC (U.K), Tencent Holdings Limited (China), Electronic Arts Inc. (U.S.), ESL Gaming GmbH (Germany), NODWIN Gaming Pvt Ltd. (India), Garena Online Private Limited (Singapore), Kafu Games (Saudi Arabia), HUYA Inc. (China), Gameloft SE (France), and Red Bull GmbH (Germany).
The global eSports market is segmented by revenue model (sponsorships, advertisements, merchandise & ticket Sales, media & broadcasting rights, game publisher fees, and digital money), streaming (live streaming and on-demand streaming), genre (real-time strategy, multiplayer online battle arena, first-person shooter, role-playing, and other genres), and platform (PCs, mobile platforms and consoles). The report also provides a comprehensive analysis of the eSports market in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
In April 2023, the Singapore subsidiary of NODWIN Gaming Pvt Ltd. (India) acquired a 51% stake in Branded, a full-service live media company.
This acquisition allows NODWIN Gaming to gain access to all of Branded's existing event intellectual properties (IPs) and to onboard a skilled international team focused on enhancing international sponsorship revenue for all of NODWIN Gaming's IPs in India and globally.
In January 2022, ESL Gaming GmbH and FACEIT (U.K.) merged to form the ESL FACEIT Group. This new entity seeks to create a comprehensive platform for competitive gaming, offering unparalleled opportunities for players, fans, teams, publishers, developers, and partners.
In July 2022, Sony Corporation (Japan) acquired Repeat Technologies, Inc. (U.S.) as part of its ongoing expansion into eSports focused on PlayStation. This acquisition is designed to broaden its eSports offerings and enhance gamer engagement with competitive play.
Follow Marketing Report on LinkedIn
Subscribe to the Marketing Report Newsletter
Send us your press releases, columns, interviews…
Join Marketing Report in our LinkedIn Groups
