Esports Market Size was worth US$ 1.70 Bn. in 2021 and total revenue is expected to grow at a rate of 24.4 % CAGR from 2022 to 2029, reaching almost US$ 9.77 Bn. in 2029.
Esports Market Size Overview:
An extensive amount of primary and secondary research was done for the global market study of Esports. In order to complement already-available data, segment the market, calculate the overall market size, and forecast market size and growth rate, secondary research was conducted. Primary and secondary research are used to identify industry leaders and estimate market value. In-depth interviews with important business and thought leaders, including CEOs and marketing executives, were conducted as part of the primary study.
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In-depth interviews with CEOs and marketing executives were conducted as part of the primary study, which involved key opinion leaders and business leaders. As part of the secondary study, the annual and financial reports of the major manufacturers were examined. Market breakdowns, market shares, and growth rates are derived from secondary sources and cross-checked against primary data.
Market Scope:
The report aids readers in developing a better knowledge of the dynamic structure of the worldwide Esports Market Size by identifying and assessing market categories and estimating market size. The report examines the key corporations' regional presence, application growth objectives, price, and financial standing. To assist shareholders in prioritising their efforts and investments in the international Esports Market Size, the research also contains a PESTLE analysis.
Decision-makers now have a better understanding of the future of the market thanks to the analysis of internal and external factors that are expected to benefit or harm enterprises. Through the research of market segmentation and projections of market size, the report also assists in understanding the dynamic structure of the global Esports Market Size. The research is a resource for investors since it gives a thorough picture of the competitive analysis of significant firms in the worldwide Esports Market Size based on price, financial status, growth strategies, and geographic presence.
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Drivers:
Our projections state that 26.6 million monthly esports viewers will be present in 2021, an increase of 11.4 percent from 2020. According to the 2021 Esports Survey Report by Foley & Lardner LLP and The Esports Observer, about 61% of respondents say that ongoing social alienation is what motivates them to participate in esports. Another 61% claimed that the growth of streaming websites helped the industry, and 52% claimed that major companies are spending more on esports sponsorships.
Esports has the potential to be an even more effective branding platform than traditional sports due to the interaction of streaming. Ad frequency during esports is currently quite low, with only a few commercial interruptions per hour, on one of the most popular streaming platforms. Streamers are willing to use, wear, and promote sponsors' goods while they are broadcasting.
Segmentation:
Market segments include Sponsorship & advertising, Esports betting & fantasy sites, Prize pools, Amateur & micro tournaments, Merchandising, and Ticket sales based on the revenue model. In 2019, the sponsorship segment accounted for 39.9% of all esports revenue globally. Through sponsorship, marketers have a significant opportunity to connect with their target audience directly on offline and online media channels. The company can reach millions of followers by using booths, posters, interactive advertising, video displays, giveaways, and a variety of other cutting-edge strategies. Many endemic companies have already established sponsorship agreements with esports teams and competitions, including Intel and Nvidia. Selling gaming-related goods has shown to be a wise investment because it helps companies increase their market share and brand recognition.
Key Players: The key players are
• Modern Times Group (Sweden)
• Activision Blizzard (US)
• FACEIT (UK)
• Nintendo (Japan)
• Gfinity (UK)
• Turner Broadcasting System (US)
• CJ Corporation (South Korea)
• Valve Corporation (US)
• Tencent (China)
• Electronic Arts (EA) (US)
• Gameloft SE
• NVIDIA Corporation
• Intel Corporation
• HTC Corporation
• Epic Games
Regional Analysis:
The Esports Market Size is examined at the national level with a focus on nations, categories, and categories with the most potential for considerable growth. The regions that make up the Esports Market Size study are North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), and Other nations.
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COVID-19 Impact Analysis on Esports Market Size: The report covers COVID-19 impact on Esports Market Size.
Key Questions Answered in the Esports Market Size Report are:
- What will the CAGR of the Esports Market Size be throughout the forecast period?
- Which market segment has dominated the Esports Market Size?
- What businesses control the Esports Market Size?
- What will the Esports Market Size's size be in 2029?
- Which company held the largest market share in Esports?
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