The global esports market is expected to grow from $1.09 billion in 2019 and to $1.11 billion in 2020 at a growth rate of 2.16%. The slow growth in 2020 is mainly due to the economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to grow and reach $2.11 billion in 2023 at CAGR of 23.82%.
The esports market consists of sales of esports and related services. Esports or electronic sports are team based sports played online and are supported by electronic systems in which all the functions are performed through a human-computer interface. Esports are played by professional gamers that are sponsored by business organizations, or from sporting organizations.
North America was the largest region in the esports market in 2019. Asia Pacific is expected to be the fastest growing region in the forecast period.
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Esports companies are investing in innovative new esports platform for increasing their revenue and expanding their consumer base and also for gaining a competitive edge over their rivals. For instance, in 2019, in Africa, NickX, an esports platform, launched by Viacom provides children with a tournament platform, using Nickelodeon gaming content. Also for instance, in 2019, IKON, a USA-based gaming platform company launched a new platform that allows players to challenge fans and friends in games, such as League of Legends and PUBG. Also for instance, in 2019, Mobile Premier League (MPL), an India-based mobile esports platform company launched its mobile esports platform in Indonesia.
The esports market covered in this report is segmented by game into multiplayer online battle arena (MOBA); real time strategy; first person shooter; fighting and sports. It is also segmented by platform into PC ; console; mobile; others.
Match-fixing has always been a major challenge in the esports industry. Match-fixing in esports is when a player intentionally loses to win a bet. The esports market will be negatively impacted when viewers start to believe that esport is losing its integrity due to match-fixing. In 2019, in Australia, match-fixing in esports resulted in the arrest of six Australian gamers. Also, in 2018, according to the global Esports Survey 2018, a total of 78% of respondents stated match-fixing as a serious risk to the esports industry, which is expected to reach $1 billion by the end of 2018. Therefore, match-fixing limits the growth of the esports market.
In June 2019, Immortals Gaming Club, a USA-based company specialized in providing esports platform through the development of software such as video game software, acquired Infinite Esports & Entertainment for over $100 million. The acquisition is expected to help Immortals Gaming Club to become a part of franchised esports leagues and to become the world’s largest esports organizations, boosting elite brands such as Immortals, OpTic, MIBR and LA Valiant. Infinite Esports & Entertainment is a USA-based esports and entertainment holdings company that specializes in electronic sports, online media and multi-gaming.
The rising demand for video games and increasing awareness of esports contribute to the growth of the esports market. As technology is expanding so the video content, products, virtual reality, and video game competitions are increasing. Video gaming has become a transforming pop culture and redefining the ways that young people consume entertainment. In 2019, according to PwC’s latest Global Entertainment & Media Outlook, the videogames market in the United States is expected to reach $30 billion by 2023, from $16 billion in 2014 at a CAGR of 18.3%. Also, there has been an immense rise in awareness of the eSports since 2015. The revenue of esports in 2018 reached $1.43 billion and is estimated to reach $1.57 billion by 2019. Therefore, the rising demand for video games and increasing awareness of esports drives the market’s growth in the forecast period.
Major players in the esports market are Modern Times Group MTG AB, Activision Blizzard Inc., Gfinity, PLC, Turner Broadcasting System, Valve Corporation, Tencent, Electronic Arts, Inc., Hi-Rez Studios, Nintendo, and FACEIT.
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