Global Esports Market was worth US$ 1.37 Bn. in 2020 and total revenue is expected to grow at a rate of 24.4 % CAGR from 2021 to 2027, reaching almost US$ 6.32 Bn. in 2027.
Esports Market Overview:
The Global Esports Market research study, which keeps a close watch on significant rivals, includes strategic analysis, micro and macro market trend and scenarios, pricing analysis, and a thorough assessment of market circumstances in the near future. It’s a deep dive into primary and secondary market drivers, market share, leading industry categories, and regional market analyses. The global Esports market study looks at important businesses, notable collaborations, mergers and acquisitions, as well as current innovation and corporate policies.
The increasing no of the audience, rising live streaming and people engagement activities are the key factors for driving the market. The industry created various opportunities for game developers, gamers, and event organizers most people are looking for a professional career because of increasing popularity in gaming torments, prize pools, and sponsorship. Sponsors like Intel, Red bull are hosting the events for many years. But last year’s non-endemic companies like Arbys’s, Coca-Cola, and Mercedes enter the market and estimated 34 % growth in the industry. In past years the esport is a sub-segment of gaming but now the esport grow as an individual sector.
Market Scope:
According to the forecast period 2021-2027, the global Esports market is expected to develop at a stable rate between 2021 and 2027. The market is expected to grow fast between now and 2021, with key industry players putting forward aggressive efforts.
Import/export consumption, supply and demand, cost, price, share, sales volume, revenue, and gross margins are all covered in this global Esports market analysis. In the global Esports market, this report looks at each producer’s manufacturing sites, capacity, production, ex-factory price, revenue, and market share. The countries (regions) studied include the United States (US), Canada, Mexico, Germany, France, the United Kingdom (UK), Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil, and Saudi Arabia.
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Drivers:
According to our forecasts, there will be 26.6 million monthly esports viewers in 2021, up 11.4 percent from 2020. According to the 2020 Esports Survey Report by Foley & Lardner LLP and The Esports Observer, continuing social alienation is driving involvement with esports, according to roughly 61 %. Another 61 % said that the rise of online streaming platforms boosted the business, while 52 % said that big brands are investing more in esports sponsorships.
The interaction of streaming, esports has the potential to be an even more impactful branding platform than traditional sports. One of the most popular streaming platforms, ad frequency during esports is currently quite low, with only a few commercial interruptions per hour. While broadcasting, streamers are willing to wear, consume, and advertise sponsors’ products. Esports fans may achieve a degree of closeness with their favorite players and teams that traditional sports can’t feasibly match, thanks to live chat, contests, and subscriber-only material.
Segmentation:
Based on the Revenue model, the market is sub-segmented into Sponsorship & advertising, Esports betting & fantasy site, Prize pool, Amateur & micro tournament, Merchandising, and Ticket sales. With a market share of 39.9% in 2019, the sponsorship segment dominated worldwide esports revenue. Sponsorship provides a significant opportunity for marketers to reach out directly to their target audience via offline and online media platforms. Booths, posters, interactive advertising, video displays, giveaways, and a variety of other innovative approaches let the business reach millions of followers. Many endemic businesses, such as Intel and Nvidia, have already developed sponsorship agreements with esports teams and tournaments. Selling gaming-related products has proven to be a smart investment, as it allows them to improve their market share and brand recognition.
Key Players:
• 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
The research focuses into the latest major developments by top manufacturers and innovation profiles in the Global Esports Market.
The Competition Strategic Window examines the competitive landscape in terms of markets, applications, and geographies to assist the vendor in determining whether their strengths and future growth prospects are a good match. It describes the best or most advantageous fit for vendors to execute future business expansion and growth over a forecast time period by adopting sequential merger and acquisition plans, geographic development strategies, R&D strategies, and new product launch strategies.
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Regional Analysis:
Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America are the five regions that make up the global Esports market. The Global Esports Industry Research digs into the key geographies of the market, as well as notable segments and sub-segments. The study looks at the current condition of regional development in terms of market size, market share, and market volume. Figures, geographies, and revenue are included in this global Esports market report, as well as an in-depth look at the business chain structure, opportunities, and industry news.
COVID-19 Impact Analysis on Esports Market:
COVID-19 is a global public health crisis that has harmed practically every industry and is anticipated to hinder industrial progress between 2021 and 2027. Maximize Market Study (MMR) is broadening the scope of its research to include core COVID-19 concerns and possible solutions. COVID-19 is being investigated in light of shifts in consumer demand, purchasing patterns, supply chain rerouting, market dynamics, and government involvement. COVID-19’s influence on the market is assessed in this revised research, which includes insights, analyses, estimates, and forecasts.
Key Questions answered in the Esports Market Report are:
- Which product segment grabbed the largest share in the Esports market?
- How is the competitive scenario of the Esports market?
- Which are the key factors aiding the Esports market growth?
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