eSports 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. 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 to get recognized and obtain funding for their business. The competitions are either held online or a WAN and is viewed wide across the globe.
Electronic sports are a form of mind sports in which players contest in video gaming competitions in-game arenas organized on a large scale. The competitions are mainly multiplayer. Common examples include RTS, FPS, and MOBA games are some of the prominent video games played worldwide. The platform for content streaming is YouTube 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 higher-level competition. For instance, games like League of Legends, StarCraft II have been designed and coded in such a way that it is suitable for any sport competition.
The major driving force of the global eSports market includes growth in several eSports tournaments owing to the increasing popularity of 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 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.
Based on the type of end-user, the global eSports market size spans regular viewers/participants, occasional viewers/participants, and regular viewers. Based on revenue generation, the global eSports market size spans sponsorships, media rights, and advertisements, prize pools, merchandise, and tickets. Based on market share, the global eSports market size spans the prize pool offered and by tournaments. Based on geographic segmentation, the global eSports market size spans North America, Asia-Pacific, Europe, the Middle East, and Africa.
North America and Korea are dominant players in the global market size owing to the nascent market stage. The 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 are 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.
Research Support Specialist, USA
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