Meticulous Research®—a leading global market research company, published a research report titled, ‘eSports Market - Global Opportunity Analysis and Industry Forecast (2024-2031)’. According to this latest publication from Meticulous Research®, the eSports market is expected to reach $9.1 billion by 2031, at a CAGR of 21.8% from 2024 to 2031.
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The growth of the eSports market is primarily driven by increasing interest in tournaments and events, coupled with the low barriers to entry for new players. However, limited awareness of eSports among potential audiences is a key factor restraining market expansion.
On the other hand, the availability of sponsorships and partnerships for eSports organizations, along with initiatives to professionalize the industry, are expected to create substantial growth opportunities. Despite this, the lack of professional opportunities for eSports teams in emerging countries poses a significant challenge to the market's growth.
Additionally, the rising popularity of mobile gaming and the increasing number of eSports professionals streaming their content on platforms like Twitch and YouTube are major trends shaping the eSports market.
Key Players:
The eSports market features a moderately competitive landscape, with numerous large and small global, regional, and local players. Some of the leading companies in the eSports market include 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).
Market Segmentation:
The global eSports market is segmented by revenue model, streaming type, genre, and platform, with the report also evaluating industry competitors and analyzing the market at regional and national levels.
- Revenue Model: In 2024, the sponsorship segment is expected to dominate the market, holding a 35.0% share. Sponsorships play a crucial role in supporting teams, tournaments, and individual players, with digital marketing strategies aimed at younger audiences and the popularity of live-streaming platforms enhancing fan engagement.
- Streaming Type: Live streaming is projected to lead the market in 2024 with a 64.0% share. Factors such as increased internet accessibility, the rollout of 5G networks, and the rise of dedicated eSports streaming platforms contribute to this segment’s growth.
- Genre: The multiplayer online battle arena (MOBA) genre is anticipated to dominate the market in 2024 with a 31.0% share, driven by the growing number of MOBA competitions, larger prize pools, and the genre’s widespread popularity.
- Platform: PCs are expected to lead the market in 2024, accounting for 47.0% of the share. This dominance is due to the emergence of new PC games, advancements in gaming hardware, and growing demand for gameplay streaming.
Geographic Review:
This report provides an in-depth analysis of major geographies, including Europe (Germany, U.K., France, Italy, Spain, Netherlands, Denmark, Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Philippines, Thailand, Taiwan, Singapore, Vietnam, Malaysia, Rest of Asia-Pacific), North America (U.S., copyright), Latin America (Brazil, Mexico, Rest of Latin America), and the Middle East & Africa (Israel, UAE, Rest of Middle East & Africa).
Among these regions, Asia-Pacific is projected to dominate the global eSports market in 2024, holding a 42.0% share. This region's dominance is attributed to the increasing number of eSports tournaments and events, ongoing digitalization, rising foreign investment in the eSports sector, and the growing popularity of mobile gaming in Southeast Asia.
About Meticulous Research®:
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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