Major shift toward video games and increase in popularity of e-sports event drive the growth of the global E-sports market. Based on region, Asia-Pacific, followed by North America held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global E-sports market. Moreover, the outbreak of the Covid-19 pandemic positively affected the implementation of Esport.
According to the report published by Allied Market Research, the global E-sports market generated $0.9 billion in 2020, and is projected to reach $4.7 billion by 2030, witnessing a CAGR of 17.5% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Rachita Rake, a Research Analyst, ICT at Allied Market Research, stated, “Asia-Pacific is expected to be the domianting region during the forecast period, owing to strong technological growth along with the ongoing development in the gaming sector, which drives organizations to invest heavily in Esports to sustain growth and improve productivity of online gaming service provider. In addition, factors such as moderately high internet penetration, ongoing improvements in broadband infrastructure, major shift toward digital transformation, rise in cloud deployment and technological advancement in online gaming service provider and ongoing modernization of online gaming such as virtual gaming event drive heavy investment in Esports in emerging economies. Furthermore, key players in Asia-Pacific are focusing on enhancing their operations and increasing their overall efficiency to stay competitive in the market, which is expected to provide lucrative opportunities for the growth of the market during the Esports market forecast period.”
- The outbreak of the Covid-19 pandemic positively affected the implementation of Esport, owing to change in consumers focus toward the E-sport event in order to maintain social distancing norms.
- However, during lockdown, the implementation of Esport is slightly affected due to limited supply of the auxiliary equipment such as joy pad, gaming setup and console sensors and screens
- However, in the post-lockdown scenario, the growth of Esport is expected to increase with the rise in demand for interactive virtual and online gaming.
The report offers detailed segmentation of the global E-sports market based on product type, end user and region.
Based on component, the platform segment held the highest market share in 2020, accounting for more than two-thirds of the global E-sports market, and is estimated to maintain its leadership status throughout the forecast period. However, the services segment is projected to manifest the highest CAGR of 18.6% from 2021 to 2030.
Based on strimming type, the on-demand segment accounted for the largest share in 2020, contributing to three-fifths of the global E-sports market, and is projected to maintain its lead position during the forecast period. Moreover, the live segment is expected to portray the largest CAGR of 19.5% from 2021 to 2030.
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Based on region, Asia-Pacific, followed by North America held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global E-sports market. Moreover, the same region is expected to witness the fastest CAGR of 19.5% from 2021 to 2030. The report also includes North America, LAMEA, and Europe.
Key Market Players:
- Activision Blizzard, Inc.
- CJ Corporation
- Electronic Arts
- Gameloft SE
- Modern Times Group
- NVIDIA Corporation
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.