Wilmington, New Castle, Delaware , Feb. 06, 2025 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Esports Market by Application (Platform, and Service), Streaming type (On Demand, and Live), Device Type (Smart Phone, Smart TV, Desktop-laptop-tablets, and Gaming console), and Revenue Stream (Media Rights, Game Publisher Fee, Sponsorship, Digital Advertisement, Tickets and Merchandise): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the “esports market” was valued at $1.3 billion in 2023, and is estimated to reach $9.2 billion by 2033, growing at a CAGR of 21.2% from 2024 to 2033.
Prime Determinants of Growth
The esports market is growing due to several key factors, such as increase in popularity of online video games, rise in mobile gaming penetration, and technological advancements. However, data privacy and security concerns and regulatory and legal challenges are expected to hamper the global market growth. Furthermore, growing sponsorship and investment strategies are expected to provide numerous opportunities for the growth of the global esports market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $1.3 billion |
| Market Size in 2033 | $9.2 billion |
| CAGR | 21.2% |
| Segments Covered | Application, Streaming Type, Device Type, Revenue Stream, and Region. |
| Drivers | Increase in popularity of online video games |
| Rise in mobile gaming penetration | |
| Technological advancements | |
| Opportunities | Growing sponsorship and investment strategies |
| Restraints | Data privacy and security concerns |
| Regulatory and legal challenges |
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The platform segment accounted for the largest share in 2023.
By application, the platform segment accounted for the largest share in 2023, contributing for less than two-fifths of the market revenue. This segment includes various online platforms that enable gamers, audiences, and organizers to engage with esports events. These platforms facilitate live streaming, player communication, tournament hosting, and audience interaction, making them integral to the growing popularity and commercialization of esports.
On demand segment accounted for the largest share in 2023
By streaming type, the on-demand segment accounted for the largest share in 2023, contributing for less than two-fifths of the market revenue. This can be attributed to rise in popularity of streaming platforms that allow users to watch esports content at their convenience, enabling greater flexibility and access to a broader audience.
Smart phone segment accounted for the largest share in 2023
By streaming type, the smart phone segment accounted for the largest share in 2023, owing to widespread use of smartphones, coupled with increasing internet penetration and mobile gaming. Their accessibility, portability, and advancements in mobile gaming technology have contributed to this growth, making esports more accessible to a broader audience.
Sponsorship segment accounted for the largest share in 2023
By revenue stream, the sponsorship segment accounted for the largest share in 2023, as sponsorships have become a critical revenue driver, with major brands investing thoroughly in esports events, teams, and tournaments to reach a growing and engaged audience.
North America region to maintain its dominance by 2033
By region, the North America segment held the highest market share in terms of revenue in 2023, driven by the region’s well-established gaming infrastructure, widespread adoption of digital technologies, and a large base of esports enthusiasts. The region has seen significant investments from media companies, gaming firms, and brands looking to capitalize on the rapidly growing esports ecosystem.
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Leading Market Players: –
- Activision Blizzard, Inc.
- CJ Corporation
- Electronic Arts
- Gameloft SE
- Modern Times Group
- Nintendo
- NVIDIA Corporation.
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The report provides a detailed analysis of these key players in the esports market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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