ESports Market is also known as electronic sports and as the name suggests, it is facilitated by video games and is gaining much popularity among gamers and youngsters at a rapid pace. The recognition as a mainstream event for eSports was sought since the last decade due to multiplayer video gaming competitions. In the current scenario, the gamers participate in these events to win cash prizes with an objective to get recognized and obtain a funding for their business. The competitions are either held online or a WAN and is viewed wide across the globe.
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The key driving factors responsible for the growth of ESports market :
Electronic sports are a form of mind sports in which players contest in video gaming competition in game arenas organized on a large scale. The competitions are mainly of multiplayers in nature. Common examples include RTS, FPS and MOBA games are some of the prominent video games played worldwide. The platform for content streaming is You Tube or Twitch. There is an advantage for sponsors as they can place themselves before a massive audience.
The design of an eSport game is much sophisticated and must be in acquaintance with the experience of the player. The market is more fertile for software developers, coders and programmers as they may think to add some features or increase the complexity to a higher-level competition. For instance, games like League of legends, Star Craft II have been designed and coded in such a way that it is suitable for any eSport competition.
The major driving force of the global eSports market include growth in number of eSports tournament owing to increasing popularity of the sportsmen worldwide. Additionally, tournaments, content streaming, media rights, corporate initiatives in form of sponsorships, ticket sales, and merchandise are some of the major driving factors to strengthen the market growth. Moreover, the streaming of eSports and end-user related games is expected to rise the demand for eSports worldwide. YouTube and Twitch have been the major contributors to stream game content. Market entrants are expected to give a tough competition to the big players during the forecast period. Overall, the market is projected to grow at a higher CAGR for the forecast period.
On the basis of type of end-user, the global eSports market size spans regular viewers/participants, occasional viewers/participants and regular viewers. On the basis of revenue generation, the global eSports market size spans sponsorships, media rights, and advertisements, prize pools, merchandise and tickets. On the basis of market share, the global eSports market size spans prize pool offered and by tournaments. On the basis of geographic segmentation, the global eSports market size spans North America, Asia-Pacific, Europe, Middle-East and Africa.
North America and Korea are dominant players in the global market size owing to the nascent market stage. European market is projected to witness a higher growth CAGR in the global eSports market. Asia-pacific regions are anticipated to grow owing to new market players and is projected to grow at a higher CAGR for the forecast period.
The key players in the global eSports market size include Capcom, Bethesda Softworks, Activision Blizzard, Aksys Games, Microsoft Studios, Riot Games, Electronic Arts (EA), Bandai Namco, NCsoft, Hi-Rez Studios, Neowiz Games, Nintendo, Sega, Valve Corporation, Ubisoft and Wargaming.
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