Esports is a sports competition using video games. Esports often take the form of organized, multiplayer video game competitions. YouTube and Twitch have become central to driving the Esports market. The increasing popularity of video games across the globe and growing awareness about Esports are the significant factors that are driving the growth of the Esports market. Younger generations are highly connected to the internet and technology. This has paved the way for online gaming activities, which also propel the growth of the Esports market. Peoples are now taking a huge interest in Esports and investing their money and time in it. Moreover, growing awareness about Esports and peer-to-peer sharing has also accelerated the growth of the Esports market.
MARKET SCOPE
The "Global Esports Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the esports market with detailed market segmentation by revenue stream, game type, and geography. The report provides key statistics on the market status of the leading esports market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on revenue stream, the global esports market is segmented into media rights, tickets and merchandise, sponsorships and direct advertisements, and publisher fees.
- on the basis of game type, the market is segmented into arcade games, video games, and others.
MARKET DYNAMICS
Drivers:
- Esports has the potential to be a more powerful branding medium than traditional sports because of the interactivity of streaming, hence, boosting the demand for the Esports market. Advancements in gaming technologies, increase in awareness about Esports due to attention given by worldwide publishers, investors, and broadcasters, which also fuels the growth of the Esports market.
- Growing number of events with large prize pools is a new trend seen in the Esports market that is further fueling the growth of the Esports market.
- An increase in the number of esports enthusiast has foreseen during the last three years and is expected to increase in the upcoming year that drives the growth of the Esports market.
Restraints:
- Concerns related to piracy may hinder the growth of the esports market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The esports market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the esports market in these regions.
IMPACT OF COVID-19 ON ESPORTS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the esports market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from esports market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the esports market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Activision Blizzard
- CJ Corporation
- Electronic Arts
- Faceit
- Gfinity
- Modern Times Group MTG AB
- Namko Ltd.
- Nintendo
- Turner Broadcasting System
- Valve Corporation