Esports Market to Surge $5.17 Billion by 2029 | Industry Forecast 2023-2029 - Arizton

According to Arizton’s latest research report, the esports market is growing at a CAGR of 17.48% during 2023-2029.  

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Report Scope:  

Market Size (2029): USD 5.17 Billion  

Market Size (2023): USD 1.96 Billion  

CAGR (2023-2029): 17.48%  

Historic Year: 2020-2022  

Base Year: 2023  

Forecast Year: 2024-2029  

Market Segmentation: Revenue, Game, Platform and Geography

Geographical Analysis: North America, Europe, APAC, Latin America, and Middle East & Africa

The Rapid Growth and Economic Potential of the Esports Market

The esports industry is experiencing rapid growth, driven by technological advancements and increasing global interest. With a projected audience of 640 million by 2025, esports is becoming a dominant force in entertainment. Mobile gaming, powered by 5G and enhanced hardware, is a major contributor to this growth, while major companies like Netflix, Apple, and Disney are entering the gaming sector. Innovations such as cloud gaming and new streaming services by companies like NVIDIA and Microsoft are further pushing gaming boundaries.

Esports offers significant economic opportunities through various revenue streams, including sponsorships, merchandising, ticket sales, advertising, and media rights. As the industry expands, strategic partnerships are helping brands engage with a youthful, global, and digital-savvy audience. Examples include collaborations like Vodafone Idea and Team Vitality in India, and KFC's partnership with the Saudi Esports Federation (SEF), which aims to elevate Saudi esports talent. Notable regional developments include the Red Bull Gaming Hub in Toronto and the Ontario government's esports scholarship initiative, which support local talent growth.

Esports' increasing mainstream presence underscores its immense potential as both an entertainment and investment opportunity globally. 

Growing Sponsorship and Partnerships Booming the Esports Industry

The esports industry is seeing a surge in sponsorships and partnerships, driven by major international tournaments like The International (Dota 2) and the League of Legends World Championship, as well as collaborations between esports and traditional sports organizations. Advances in technology, such as high-speed internet and streaming platforms, are also fueling industry’s growth.

In May 2024, several prominent brands, including HSBC, Porsche, Land Rover, Revolut, and Cisco, further solidified their investments in esports. HSBC renewed its partnership with GIANTX, focusing on promoting financial literacy to younger audiences. Porsche collaborated with the Overwatch Championship Series at Dreamhack Dallas Major to engage with tech-savvy fans in the esports community. Additionally, Swedish esports organization 9INE partnered with betting company LEONBET, integrating betting and interactive content to enhance fan engagement.

These high-profile partnerships signal the increasing mainstream appeal of esports, as traditional companies tap into its vast potential to reach younger, digitally-savvy audiences, further establishing esports as a lucrative and evolving industry.

North America Dominance in the Global Esports Market

North America remains the largest region for esports, holding a 44.25% share of the global market. The region has seen significant investments from game publishers, venture capitalists, and traditional media, contributing to the industry's rapid growth. The rise of esports competitions, from the Nintendo World Championship in the 1990s to major events today, has fueled the sector's expansion.

The U.S. continues to lead the market, with esports events linked to major sports leagues like the NFL, MLB, and NBA. Additionally, streaming platforms such as Twitch, YouTube Gaming, and Facebook Gaming have revolutionized how esports content is consumed, offering gamers a global platform to showcase their skills.

Canada is also experiencing notable growth, with cities like Toronto and Vancouver playing key roles in developing a thriving esports ecosystem. The region’s emphasis on technology and innovation has further bolstered the sector's growth, positioning North America as the epicenter of the global esports industry. 

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Key Company Profiles

·        Electronic Arts Inc.

·        ESL FACEIT Group

·        Microsoft

·        Sony Group Corporation

·        Take-Two Interactive Software

·        Tencent

·        100 Thieves

·        Aksys Games

·        Bandai Namco Entertainment

·        Capcom

·        Cloud9 Esports

·        Crytek

·        Deep Silver

·        Fnatic Ltd

·        Frenzy Arena

·        G ESPORTS HOLDING

·        GAIMIN GLADIATORS

·        Gameforge

·        Com2uS Holdings

·        Gen.G Esports

·        Hi-Rez Studios

·        HUYA Inc.

·        Kabam

·        Karmine Corp

·        Kinguin.net

·        Konami Holdings Corporation

·        NCSoft

·        Neowiz Games

·        Nintendo

·        Nival

·        NRG

·        Sega

·        SK Telecom CS T1 Co

·        Space Station Gaming

·        Super Evil Megacorp

·        Talon Esports

·        Twitch Interactive

·        Valve Corporation

·        Wargaming Group Limited

Market Segmentation

Revenue

·        Sponsorships

·        Advertisements

·        Media Rights

·        Game Publisher Fee

·        Merchandise & Tickets

Game

·        Multiplayer Online Battle Arena (MOBA)

·        Player versus Player (PvP)

·        First-person shooter (FPS)

·        Real-Time Strategy (RTS)

·        Massive Multiplayer Online Game (MMOG)

Platform

·        Console

·        PC

·        Mobile & Tablets

Geography

North America

·        The U.S.

·        Canada

APAC

·        China

·        South Korea

·        Japan

·        India

·        Australia

·        Vietnam

Europe

·        The U.K.

·        France

·        Germany

·        Italy

·        Poland

·        Spain

·        Sweden

Latin America

·        Brazil

·        Mexico

·        Argentina

·        Chile

Middle East & Africa

·        The UAE

·        Saudi Arabia

·        South Africa

·        Egypt 

The Arizton Advisory & Intelligence market research report provides valuable market insights for industry stakeholders, investors, researchers, consultants, and business strategists aiming to understand the esports market thoroughly. Request for Free Sample to get a glance at the report now: https://www.arizton.com/market-reports/esports-market-report     

What Key Findings Will Our Research Analysis Reveal?  

What is the growth rate of the global esports market?

Which region dominates the global esports market share?

How big is the global esports market?

What are the significant trends in the esports market?

Who are the key players in the global esports market?   

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