Major shift toward video games and increase in popularity of e-sports event drive the growth of the global Esports Market. However, lack of standardization in online gaming event and online threats such as gambling hinder the market growth. On the other hand, increase in number of tournament & event with huge prize for winners and runner-up team along with long term investment opportunity in the e-sport event present new opportunities in the coming years.
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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. This is attributed to increase in adoption of Esports among the developed country to gain strategic as well as competitive advantage over their competitors. However, services segment is projected to manifest the highest CAGR of 18.6% from 2021 to 2030, owing to surge in adoption of online gaming and virtual tournament of the Esport industry event.
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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. The growth of the segment is attributed to numerous benefits provided by streaming type segment such as high quality of gaming, ease to customize as per the requirement of players and high security of gaming ID, and others. Moreover, the live segment is expected to portray the largest CAGR of 19.5% from 2021 to 2030, owing to rise in adoption of real-time streaming of Esport game due to its cost-effective and easy to broadcast operation.
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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 Esports industry. Moreover, the same region is expected to witness the fastest CAGR of 19.5% from 2021 to 2030, owing to strong technological growth along with the ongoing development in the gaming sector. The report also includes North America, LAMEA, and Europe.
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Covid-19 Scenario
- The outbreak of the Covid-19 pandemic had slightly affected the implementation of Esport.
- 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.
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