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.
The Global Esports Market is expected to grow from USD 1.09 billion in 2019 and to USD 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 USD 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.
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 USD 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 USD 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
USD 30 billion by 2023, from USD 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 USD 1.43 billion and is estimated to reach
USD 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.
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