The eSports market is projected to reach US$2214.584 million by 2024 from US$875.667 million in 2018 with a CAGR of 16.72%. eSports are a form of a tournament or competition that is played on a virtual platform between professional players. The rising interests and popularity in the video game industry and the increasing awareness about eSports will be the major driving factors of the eSports market. Also, the budding investments and the introduction of high prize pools of such tournaments will draw more participation, thus boosting the demand for this market. Consoles segment will hold a major share during the forecast period owing to the uniformity offered by them in terms of performance and connectivity. The Asia Pacific and the North American region hold a significant share in the market due to the presence of major tournament organizers and game developers in these regions. Furthermore, these markets are also projected to show phenomenal growth over the coming years owing to the increasing eSports viewership in these regions.
Growing popularity of video gaming
Rising investments and prize pools
Threat from eSports gambling
In May 2019, Riot Games extended their eSports sponsorship pact with U.S. based insurance firm State Farm for events related to their game League of Legends till 2021.
In May 2019, Complexity Gaming, an eSports organization in North America, opened its new headquarters in Frisco, Texas. The facility is built to provide eSport players professional athlete like treatment.
In May 2019, Gameloft, a mobile game developer, is joining the eSports scene with the company announcing the first edition of its Asphalt eSports series.
The major players profiled in the eSports Market include Valve Corporation, Riot Games, Turtle Entertainment GmbH, Unikrn, Inc., Activision Blizzard, Inc., Hi-Rez Studios, Epic Games, Electronic Arts (EA), Shoryuken, and Professional Gamers League (PGL) among others.
The eSports market has been analyzed through the following segments:
By Game Type
Multiplayer Online Battle Arena
Personal Computers (PC)
Consoles and Arcades
Middle East and Africa