E-Sports Global Market Report 2024

The e-sports market size has grown rapidly in recent years. It will grow from $1.63 billion in 2023 to $1.9 billion in 2024 at a compound annual growth rate (CAGR) of 16.0%. The expansion observed in the historical period can be ascribed to a rise in awareness about esports, an increase in the livestreaming of games, and a boost in the international prize pool for esports.

The e-sports market size is expected to see rapid growth in the next few years. It will grow to $3.48 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%. The anticipated growth in the forecast period can be linked to a broader diversity of game genres, a surge in viewership, the establishment of esports cafes, an increase in internet-accessible devices, growing sponsorships, a rise in mobile gaming, and heightened awareness. Notable trends expected in the forecast period involve a growing inclination towards esports due to COVID-19, the advancement of esports through augmented reality (AR) and virtual reality (VR) technologies, an uptick in mergers and acquisitions (M&A) activities, a proliferation of investments, and the introduction of new esports platforms.

The growing demand for video games and the heightened awareness of E-sports are key factors contributing to the expansion of the E-sports market. With technological advancements expanding video content, products, virtual reality, and video game competitions, video gaming is significantly shaping pop culture and transforming the entertainment consumption habits of young people. According to PwC's latest Global Entertainment & Media Outlook, the video game market in the United States is projected to reach $30 billion by 2023. The global revenue for video games and E-sports stood at $215.6 billion in 2021, with a predicted compound annual growth rate (CAGR) of 8.5%, reaching $323.5 billion by 2026. Hence, the growing demand for video games and increased awareness of E-sports are key drivers of the market's growth in the forecast period.

The expanding reach of the internet is anticipated to propel the growth of the e-sports market. Internet penetration, reflecting the extent to which the internet is utilized by a specific population, region, or demographic group, plays a pivotal role. The internet not only facilitates the participation and viewership of e-sports but also fosters a connected and engaged community around competitive gaming. For instance, as of December 2021, global internet users reached 5.4 billion, according to the Internet World Stats report in January 2023. Therefore, the increasing penetration of the internet is a significant factor driving the growth of the e-sports market.

E-sports enterprises are making strategic investments in cutting-edge platforms to not only increase their revenue and expand their consumer base but also to gain a competitive advantage over their industry counterparts. A case in point is the collaboration between Digital Virgo, a mobile payment specialist based in France, and Etisalat Misr, an Egyptian Telecom company, in 2022. Together, they launched a comprehensive E-sports platform in Egypt, delivering high-quality educational and entertaining content.

Prominent companies in the e-sports market are directing their efforts towards the development of innovative platforms, such as the introduction of the first non-fungible tokens (NFTs) platform for esports, to solidify their market position. Non-fungible tokens (NFTs) represent unique digital assets that validate ownership or authenticity using blockchain technology for specific items or content. As an illustration, Loco, an Indian-based live-streaming application, unveiled an NFT platform for esports in June 2022. The inaugural asset on Loco Legends is NFT esports cards, blending NFTs with free-to-play esports fantasy gaming. Users have the opportunity to acquire NFT trading cards, enabling them to buy, sell, and participate in free-to-play fantasy pools.

In 2022, Savvy Gaming Group, an Esports investment company headquartered in Saudi Arabia, made a significant acquisition by purchasing ESL, a German-based Esports organizer and production company, and FACEIT, a UK-based Esports platform, for $1.5 Billion. This strategic move allows Savvy Gaming Group to integrate ESL's expertise in crafting, broadcasting, and commercializing premium Esports ecosystems, including arena events and festival shows, with FACEIT's proficiency in developing top-tier tools for competitive gaming.

Major companies operating in the e-sports market report are Activision Blizzard Inc., Modern Times Group MTG AB, Tencent, Valve Corporation, Electronic Arts Inc., Nintendo, Team SoloMid (TSM), Cloud9, Take-Two Interactive, Riot Games Inc., Nazara Technology, Jetsynthesys, Nodwin Group, Gaming Monk, Neon Gaming Studio, Viacom 18, Sony, Xbox, BenQ, Electronic Arts, Red Entertainment‎, Sega, OLM, Inc., Gainax, Hamster Corporation, Aristocrat Leisure, Huya, Chushou TV, Panda TV, Wangyuhudong, Aipai, Mars TV, ImbaTV, EDG, FEG, Dexerto, Gameloft, Sky Betting & Gaming, SteelSeries, Team Vitality, Fnatic, Astralis, G2 Esports, Imprezart, Playkey, Mundfish, Winstrike, RAWG, Fibrum, DreamTeam, Respeecher, Ejaw Studio, Hypereight, Team Liquid, FaZe Clan, 100 Thieves, Luminosity Gaming, Enthusiast Gaming, Fandom Sports, Infinity Esports, Xten Esports, Isurus Gaming, PaiN Gaming, Infamous, Immortals Gaming Club (IGC), Webedia Arabia Group, Boss Bunny Games, YaLLa Esports, NASR Esports, NODWIN Gaming, Ekasi Esports, Mettlestate, Clan Connection, The Digital Gaming League, MWEB GameZone, Online Arena, Zombiegamer.

North America was the largest region in the e-sports market in 2023. South America is expected to be the fastest-growing region in the forecast period. The regions covered in the e-sports market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the e-sports market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The primary categories of games in e-sports encompass multiplayer online battle arenas (MOBA), real-time strategy, first-person shooter, fighting, and sports. In the multiplayer online battle arena (MOBA) subgenre, two teams of players compete on a pre-determined battlefield. Each player controls a singular character with a set of unique abilities that progress throughout the game, contributing to the overall strategy of the team. These games are accessible on various platforms such as PC, console, mobile, and others. The revenue sources for e-sports include sponsorship, advertising, merchandise and tickets, publisher fees, and media rights.

The e-sports market research report is one of a series of new reports that provides E-sports market statistics, including E-sports industry global market size, regional shares, competitors with an E-sports market share, detailed E-sports market segments, market trends, and opportunities, and any further data you may need to thrive in the E-sports industry. This E-sports market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The E-sports market includes revenues earned by entities operating E-sports facilities. E-sports 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. E-sports are played by professional gamers that are sponsored by business organizations, or sporting organizations. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.