Esports or electronic sports are a group of sports played online via video games. Each team or individual competes in various popular online games and sponsors compete for a bigger share of the global audience. Esports market is home to intense competitions which increasingly take place in front of a live audience to build and measure audience loyalty.
These sports competitions are becoming increasingly popular in recent times. According to recent estimates, Esports market caters to over 380 million audience online every year. North America and China are home to some major players in the esports market. A sizeable share of the total revenue in the esports market is generated from these two regions. Europe is also a prominent market.
The revenue model in esports market works in a similar manner as in traditional sporting competitions. Most important revenue streams include sponsorships, advertising, publisher fees, ticket sales, and merchandise.
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The most popular genres in esports market culture are first-person shooter (FPS), real-time strategy (RTS), battle royale games and fighting, and multiplayer online battle arena (MOBA). Popular games for esports include FPS titles Counter-Strike and Call of Duty, MOBA titles like Dota 2, and League of Legends, and tactical shooters like Rainbow Six Siege and CrossFire.
Global Esports Market: Overview
Globally, the demand for video games and online video games has grown largely. People across the globe are now taking huge interest in esports and investing their time and money in it. These factors have accelerated the global esports market significantly. Increasing awareness about esports is also playing a significant role in driving the global esports market. Moreover, large-scale investments in esports are also expected to drive this market.
The global esports market can be classified on the basis of revenue streams and regional analysis. In terms of revenue streams, the market is segmented into tickets and merchandise, media rights, sponsorships and direct advertisements, and publisher fees. The media rights segment is further bifurcates into online advertisement and subscriptions.
The report on the global esports market presents an in-depth analysis on this market. It includes the major factors responsible for the growth of this market. Drivers and restraints give the current picture of the market, whereas trends and opportunities will provide how the demand for intelligent apps will shape in future. Segmentation supports and justifies the above-mentioned factors. In addition, geographic analysis and vendor landscape explains how investors and players can take strategic decisions in the coming years.
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Global Esports Market: Trends and Opportunities
Millennials and younger generations are now highly connected to internet and technology. This has paved the way for online games and activities. Nowadays, children prefer video games as compared to other sport and outdoor activities. This has boosted the global esports market. Moreover, growing awareness about esports and peer-to-peer sharing has also accelerated the global esports market. Increasing number of events with large prize pools is a new trend seen in the global market that is further driving the global esports market. However, lack of standardization might restrict the growth of the market to a certain extent.
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Global Esports Market: Companies Mentioned
Under this section, the report provided key information about the prominent players operating in the global esports market. Some of the key players mentioned in the report are Nintendo, Tencent, Turner Broadcasting System, Activision Blizzard, Modern Times Group, and Valve Corporation. Leading players might be investing in various business development strategies to increase their geographical reach and get a firm hold in the market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
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