E-Sports Global Market Report 2023
NEW YORK, Feb. 9, 2023 /PRNewswire/ — In 2022, Savvy Gaming Group, a Saudi Arabia-based Esports investment company, acquired ESL, a German-based Esports organizer and production company, and FACEIT, a UK-based Esports platform for $1.5 Billion. Through this acquisition, Savvy Gaming Group will integrate ESL’s expertise in creating, broadcasting, and commercializing premium Esports ecosystems, including arena events and festival shows, with FACEIT’s ability to develop top-notch tools for competitive games.
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Major players in the E-sports 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, FACEIT, CJ Corporation, Kabam, Wargaming Public, Rovio Entertainment, GungHo Online Entertainment, Riot Games Inc., Epic Games, Alisports, Total Entertainment Network, King Digital Entertainment PLC, Zynga Inc., Gamevil Inc., Cloud9, Team SoloMid, Team Liquid, Echo Fox, Fnatic, Gen.G E-sports, 100 Thieves, G2 E-sports and Immortals.
The global e-sports market will grow from $1.41 billion in 2022 to $1.63 billion in 2023 at a compound annual growth rate (CAGR) of 16.1%. The Russia–Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The e-sports market is expected to grow from $2.98 billion in 2027 at a CAGR of 16.2%.
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.
E-sports refer to a type of electronic game in which contestants compete using video games in a multiplayer environment that resembles a real or imagined sport.
North America was the largest region in the e-sports market in 2022.South America is expected to be the fastest-growing region in the forecast period.
The regions covered in the E-sports market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types of games in e-sports are multiplayer online battle arenas (MOBA), real-time strategy, first-person shooter, fighting, and sports.Multiplayer online battle arena (MOBA) is a strategy video game subgenre in which two teams of players engage on a predetermined battlefield.
Each player controls a single character with a set of distinct abilities that level up throughout the game and contribute to the overall strategy of the team. The various platform includes PC, console, mobile, and others and the different revenue sources are sponsorship, advertising, merchandise & tickets, publisher fees, and media rights.
The rising demand for video games and increasing awareness of E-sports contribute to the growth of the E-sports market.As technology is expanding so 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.According to PwC’s latest Global Entertainment & Media Outlook, the videogames market in the United States is expected to reach $30 billion by 2023.
The global revenue for video games and E-sports was $215.6 billion in 2021, and it is predicted to grow at a CAGR of 8.5% to $323.5 billion by 2026. Therefore, the rising demand for video games and increasing awareness of E-sports drives the market’s growth in the forecast period.
Match-fixing has always been a major challenge in the E-sports industry.Match-fixing in E-sports is when a player intentionally loses to win a bet.
The E-sports market will be negatively impacted when viewers start to believe that esports is losing their integrity due to match-fixing.In 2021, in Australia, match-fixing in E-sports resulted in the arrest of two Australian gamers .
The number of suspected match-fixing cases in E-sports has more than doubled in 2020, amid concerns that COVID-19 has contributed to an increase in misconduct in competitive video gaming.The number of suspicious betting cases discovered by the E-sports Integrity Commission, the industry authority in charge of anti-corruption efforts, has increased to 117 in the first 11 months of 2020, from 46 in 2019.
Therefore, match-fixing limits the growth of the E-sports market.
E-sports companies are investing in innovative new E-sports platforms for increasing their revenue and expanding their consumer base and also for gaining a competitive edge over their rivals.For instance, in 2022, in India, Loco, a live-streaming platform, launched Loco Legends, which is the first non-fungible token platform for esport.
Also, for instance, in 2020, E-sports One, a USA-based E-sports data, and analytics company launched a new fantasy sports platform that is an all-in-one fantasy E-sports platform, that utilized a proprietary player performance database and computer vision to create real-time predictive data. Also, for instance, in 2022, Digital Virgo, a France-based specialist in mobile payment with Etisalat Misr, and the Egyptian Telecom company launched a full-service E-sports platform for delivering top-tier educational and entertaining content in Egypt.
The countries covered in the Esports market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
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.
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