The global eSports market offers several advantages such as improved game development, high fidelity graphics, competitive gameplay, and engaging community events. E-sports involve professional and organized multiplayer video gaming competition.
The global eSports Market is estimated to be valued at US$ 2123.48 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the growth of the global eSports market is the increasing popularity of e-sports tournaments and events. Major sports events companies and sponsors are entering the e-sports industry by organizing professional tournaments with big prize pools, which is helping generate high viewership from audiences globally. For instance, a DOTA 2 championship called The International organized by Valve has become one of the biggest annual e-sports events in the world with prize pools surpassing $30 million each year. The increasing viewership of e-sports events through online streaming platforms is attracting more sponsorships and investments into the market. This is contributing significantly to the popularity and rapid expansion of the global eSports industry.
Segment Analysis
The global eSports market is dominated by two key sub segments- eSports games and eSports platforms. eSports games segment held more than 50% market share in 2024 owing to increasing popularity of games such as Dota 2, League of Legends, and Counter Strike among others. These games attract huge sponsors and viewership, thereby driving revenues in the global market.
Key Takeaways
Global Esports Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The global eSports Market is estimated to be valued at US$ 2123.48 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to 2031.
Regional analysis
Asia Pacific dominated the global eSports market in 2024 with over 40% share, led by countries such as China, South Korea. The region is expected to remain the fastest growing market during the forecast period owing to increasing gamers population and investments in infrastructure development. North America is also expected to grow at a significant pace during the forecast period on back of growing awareness and sponsorships in the region.
Key players
Key players operating in the eSports market are Saipem, Subsea 7 S.A., McDermott International, and TechnipFMC plc. Saipem leads the industry with highest market share in 2024 owing to its expertise and global presence. Subsea 7 S.A. also holds significant market share worldwide. The global eSports industry is witnessing high investment flows with growing viewership that is attracting new as well as established technology players to tap into business opportunities.
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