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Video gaming as well as e-sports has evolved from a hobby to a professional career option, with Dota2, Fortnite, League of Legends, Counter-Strike, Overwatch, PlayerUnknown's Battlegrounds, and Global Offensive leading the way.
Video games are becoming more popular by each passing year and more gamers are finding their way into new trend called virtual world. As the name suggests, esports (electric sports) turns online gaming into a spectator sport. It mimics the experience of watching a professional sporting event, except instead of watching a physical event, spectators watch video gamers compete against each other. Gaming is no longer just a hobby for many. Professional gamers are finding their way into professional eSports and compete against each other in competitions for sometimes high prize money. Gaming and esports are two completely different things. Esport is defined the playing of video games on a competitive level with teams or individuals facing each other within leagues or in tournaments. It describes the world of competitive, organized video gaming. Competitors from different leagues or teams face off in the same games that are popular with at-home gamers: Fortnite, League of Legends, Counter-Strike, Call of Duty, Overwatch and Madden NFL, to name a few. These gamers are watched and followed by millions of fans all over the world, who attend live events or tune in on TV or online.
According to the research report, “Global Esports Market Outlook, 2028” published by Bonafide Research, the Global Esports market is anticipated to attain market size of USD 4380 Million by 2028, increasing from USD 1684.39 Million in 2022. With over 320 Million fans worldwide, esports is fast becoming a gaming mainstream industry. The eSports industry has seen tremendous growth over the years, both in terms of viewership and revenue. The increasing viewership is what mainly contributed to the revenue growth &n dash; and it's not just because those viewers are generating revenue. Seeing the potential of reaching a large and engaged audience, brands are investing in eSports marketing, both directly and indirectly. This has contributed to rapid revenue growth in the industry, only slowed down by COVID limiting significant public eSports events, although things seem to be returning to normal in 2022. eSports has also experienced growth in several other aspects, with many of them interrelated in one way or another. Dota2, Fortnite, League of Legends, and Counterstrike: Overwatch and Global Offensive are the gaming industry leaders. The video gaming industry has evolved from a hobby to a professional career option. The tournaments are attracting investors, including celebrities and international brands, as sponsors due to the immense engagement of fans for esports tournaments.
Based on the report, the market is segmented into various parts including sponsorship, media rights, merchandise & tickets, publisher fees, digital and streaming. Among them, sponsorship segment leads the market with more than 59% market share in 2022. Sponsorship revenues have been the foundation on which the esports market was built, so its no surprise that it continues to be the highest-grossing revenue stream. The increasing competition in the sponsorship industry has led brands to seek differentiation and authenticity through sponsorships in the esports and gaming industry. Many non-endemic brands chose to enter eSports on the familiar ground through a digital extension of existing traditional sponsorship relationships. ;for example, football with the eSports extension of FIFA. Blockchain companies are boosting sponsorship growth in esports by investing high figures into teams and tournaments to reach the esports audience. Digital and streaming are the two fastest-growing revenue streams for esports. The increasing awareness of digital assets that came with NFTs is likely to boost investment and fan interest in acquiring in-game items of esports IP.
The global esports market is further segmented into various device types including mobile (smartphone, tablet, etc.), PC (laptop, desktop), gaming device (console, handheld devices) and other (VR, smart TV, etc.) Among them, mobile segment is leading the market in 2022 and is expected to continue its dominance during the forecast period due to improvements in game quality and internet usage by millennials. As of April 2022, there were more than five Billion internet users worldwide, which is around 63% of the global population. Furthermore, due to its wireless portability and cost-effective usage, smartphone adoption for playing Esport is significantly increasing among end-users, which adds significantly to the global market's growth. Based on the latest data reveal, the number of mobile users was close to 5.48 Billion in October 2022. On the other hand, the growth of the Esports gaming console segment can be attributed to a variety of benefits provided by these devices, such as high gameplay quality, which results in a better gaming experience. Further, penetration of 5G network, VR and AR technology, smart & connected devices are projected to witness higher market growth during the upcoming timeframe.
According to the report, the global market is segmented into five major regions including North America, Europe, Asia-Pacific, South America and Middle East & Africa. Among them, Asia-Pacific market is anticipated to lead the market with more than 45% of the market share. Countries including China, Japan, and India are anticipated to experience robust demand considering the rapid shift on digital platforms for entertainment through sports events. Based on the country segmentation, China and USA together contributes for around 40% of the global market. China has the highest number of active esports players and tournament viewership thanks to new technologies with mobile devices and live-streaming. According to the research, in 2019 there were more than 5,000 esports teams and clubs in China, with about 100,000 professional esports players and a total of 500,000 people employed in the industry. Both PC games, such as League of Legends, and mobile games, including Wild Rift, Honor of Kings, and Peacekeeper Elite, are very popular in China.
However, with a massive esports audience and an even bigger commercial structure underpinning that audience, a number of notable tournaments and leagues call the US home. This includes both domestic-oriented tournaments, such as North American portions of wider international leagues, as well as playoff tournaments in international circuits. The United States is one of the largest gaming industry markets and has the most extensive library of games available to its citizens. The Asia Pacific is anticipated to dominate the market during the projected period. The growing number of internet users and mobile gaming has fuelled the growth of esports in the region. Younger population influences the shift to a; mentality where the region’s increasing online population and high smartphone penetration contribute significantly to the growth of mobile esports. As infrastructure and internet connectivity continue to improve, it will play a part to enable the growing gaming ecosystem in the region. Asia has always had a huge influence on the development of the hypercompetitive esports world. As an esports powerhouse, APAC owns the highest share of the global gaming market, has the largest gaming communities and the growth of Esports in Asia-Pacific is accelerating. In April 2022, Korean Esports Association (KeSPA) signed a three-year sponsorship deal with SK Telecom.
The global esports market generates revenue through various streams, including sponsorship, media rights, merchandise & tickets, publisher fees, digital platforms, and streaming services. Sponsorship remains a dominant revenue source, with brands actively investing in esports teams, tournaments, and events to reach the highly engaged gaming audience. Media rights are another crucial stream, as traditional and digital broadcasters acquire rights to stream live esports tournaments, driving revenue through licensing agreements. Merchandise and ticket sales contribute significantly, with fans purchasing team apparel, accessories, and event tickets, further boosting market growth. Publisher fees also play a role, as game developers charge tournament organizers and third-party platforms for the rights to feature their games in competitive events. The digital segment, including in-game purchases, downloadable content, and virtual goods, has become increasingly lucrative as esports audiences spend more on enhancing their gaming experience. Streaming platforms like Twitch, YouTube Gaming, and Facebook Gaming generate revenue through ads, subscriptions, and viewer donations, further reinforcing the monetization of esports content. The diversification of revenue streams ensures the long-term growth of the esports industry, as new technologies and consumer engagement strategies continue to evolve.
Esports gaming is accessible across various device types, including mobile, PC, gaming consoles, and emerging technologies like VR and smart TVs. Mobile gaming has witnessed exponential growth, driven by smartphone and tablet advancements, high-speed internet connectivity, and the rise of mobile-friendly esports titles. Popular games in this category, such as battle royales and MOBAs, attract massive audiences and competitive scenes. PC gaming remains a stronghold in esports, with laptops and desktops offering high-performance gaming experiences for professional players. Competitive titles such as first-person shooters (FPS) and strategy games thrive on PC due to precise controls and superior graphics. Gaming consoles, including PlayStation, Xbox, and handheld devices, contribute significantly to esports, with major tournaments dedicated to console-based games. Other devices, including virtual reality (VR) and smart TVs, are emerging as potential platforms for esports engagement, offering immersive experiences and expanding the audience base. The accessibility of esports across multiple devices ensures its widespread appeal, allowing gamers and viewers to participate in competitive gaming in ways that suit their preferences and technological capabilities.
Esports encompasses various game types, each attracting different player bases and competitive structures. Shooter games, including first-person shooter (FPS) and third-person shooter (TPS) titles, dominate the esports landscape, with franchises like Call of Duty and Counter-Strike maintaining global appeal. Multiplayer Online Battle Arena (MOBA) games, such as League of Legends and Dota 2, offer strategic, team-based gameplay that draws millions of viewers during major tournaments. Real-time strategy (RTS) games emphasize tactical decision-making, with competitive titles like StarCraft requiring quick reflexes and strategic planning. Fighting games, including franchises like Street Fighter and Tekken, attract a dedicated esports audience, with international tournaments showcasing high-skill matchups. Beyond these, other game genres such as role-playing, racing, simulation, and sports games contribute to the esports ecosystem. Titles like FIFA, Gran Turismo, and The Sims have carved out their niches within competitive gaming, demonstrating the industry's diverse appeal. The broad spectrum of esports game types ensures continued market growth, catering to different player interests and fostering the expansion of competitive gaming worldwide.
According to the research report, “Global Esports Market Outlook, 2028” published by Bonafide Research, the Global Esports market is anticipated to attain market size of USD 4380 Million by 2028, increasing from USD 1684.39 Million in 2022. With over 320 Million fans worldwide, esports is fast becoming a gaming mainstream industry. The eSports industry has seen tremendous growth over the years, both in terms of viewership and revenue. The increasing viewership is what mainly contributed to the revenue growth &n dash; and it's not just because those viewers are generating revenue. Seeing the potential of reaching a large and engaged audience, brands are investing in eSports marketing, both directly and indirectly. This has contributed to rapid revenue growth in the industry, only slowed down by COVID limiting significant public eSports events, although things seem to be returning to normal in 2022. eSports has also experienced growth in several other aspects, with many of them interrelated in one way or another. Dota2, Fortnite, League of Legends, and Counterstrike: Overwatch and Global Offensive are the gaming industry leaders. The video gaming industry has evolved from a hobby to a professional career option. The tournaments are attracting investors, including celebrities and international brands, as sponsors due to the immense engagement of fans for esports tournaments.
Based on the report, the market is segmented into various parts including sponsorship, media rights, merchandise & tickets, publisher fees, digital and streaming. Among them, sponsorship segment leads the market with more than 59% market share in 2022. Sponsorship revenues have been the foundation on which the esports market was built, so its no surprise that it continues to be the highest-grossing revenue stream. The increasing competition in the sponsorship industry has led brands to seek differentiation and authenticity through sponsorships in the esports and gaming industry. Many non-endemic brands chose to enter eSports on the familiar ground through a digital extension of existing traditional sponsorship relationships. ;for example, football with the eSports extension of FIFA. Blockchain companies are boosting sponsorship growth in esports by investing high figures into teams and tournaments to reach the esports audience. Digital and streaming are the two fastest-growing revenue streams for esports. The increasing awareness of digital assets that came with NFTs is likely to boost investment and fan interest in acquiring in-game items of esports IP.
The global esports market is further segmented into various device types including mobile (smartphone, tablet, etc.), PC (laptop, desktop), gaming device (console, handheld devices) and other (VR, smart TV, etc.) Among them, mobile segment is leading the market in 2022 and is expected to continue its dominance during the forecast period due to improvements in game quality and internet usage by millennials. As of April 2022, there were more than five Billion internet users worldwide, which is around 63% of the global population. Furthermore, due to its wireless portability and cost-effective usage, smartphone adoption for playing Esport is significantly increasing among end-users, which adds significantly to the global market's growth. Based on the latest data reveal, the number of mobile users was close to 5.48 Billion in October 2022. On the other hand, the growth of the Esports gaming console segment can be attributed to a variety of benefits provided by these devices, such as high gameplay quality, which results in a better gaming experience. Further, penetration of 5G network, VR and AR technology, smart & connected devices are projected to witness higher market growth during the upcoming timeframe.
According to the report, the global market is segmented into five major regions including North America, Europe, Asia-Pacific, South America and Middle East & Africa. Among them, Asia-Pacific market is anticipated to lead the market with more than 45% of the market share. Countries including China, Japan, and India are anticipated to experience robust demand considering the rapid shift on digital platforms for entertainment through sports events. Based on the country segmentation, China and USA together contributes for around 40% of the global market. China has the highest number of active esports players and tournament viewership thanks to new technologies with mobile devices and live-streaming. According to the research, in 2019 there were more than 5,000 esports teams and clubs in China, with about 100,000 professional esports players and a total of 500,000 people employed in the industry. Both PC games, such as League of Legends, and mobile games, including Wild Rift, Honor of Kings, and Peacekeeper Elite, are very popular in China.
However, with a massive esports audience and an even bigger commercial structure underpinning that audience, a number of notable tournaments and leagues call the US home. This includes both domestic-oriented tournaments, such as North American portions of wider international leagues, as well as playoff tournaments in international circuits. The United States is one of the largest gaming industry markets and has the most extensive library of games available to its citizens. The Asia Pacific is anticipated to dominate the market during the projected period. The growing number of internet users and mobile gaming has fuelled the growth of esports in the region. Younger population influences the shift to a; mentality where the region’s increasing online population and high smartphone penetration contribute significantly to the growth of mobile esports. As infrastructure and internet connectivity continue to improve, it will play a part to enable the growing gaming ecosystem in the region. Asia has always had a huge influence on the development of the hypercompetitive esports world. As an esports powerhouse, APAC owns the highest share of the global gaming market, has the largest gaming communities and the growth of Esports in Asia-Pacific is accelerating. In April 2022, Korean Esports Association (KeSPA) signed a three-year sponsorship deal with SK Telecom.
The global esports market generates revenue through various streams, including sponsorship, media rights, merchandise & tickets, publisher fees, digital platforms, and streaming services. Sponsorship remains a dominant revenue source, with brands actively investing in esports teams, tournaments, and events to reach the highly engaged gaming audience. Media rights are another crucial stream, as traditional and digital broadcasters acquire rights to stream live esports tournaments, driving revenue through licensing agreements. Merchandise and ticket sales contribute significantly, with fans purchasing team apparel, accessories, and event tickets, further boosting market growth. Publisher fees also play a role, as game developers charge tournament organizers and third-party platforms for the rights to feature their games in competitive events. The digital segment, including in-game purchases, downloadable content, and virtual goods, has become increasingly lucrative as esports audiences spend more on enhancing their gaming experience. Streaming platforms like Twitch, YouTube Gaming, and Facebook Gaming generate revenue through ads, subscriptions, and viewer donations, further reinforcing the monetization of esports content. The diversification of revenue streams ensures the long-term growth of the esports industry, as new technologies and consumer engagement strategies continue to evolve.
Esports gaming is accessible across various device types, including mobile, PC, gaming consoles, and emerging technologies like VR and smart TVs. Mobile gaming has witnessed exponential growth, driven by smartphone and tablet advancements, high-speed internet connectivity, and the rise of mobile-friendly esports titles. Popular games in this category, such as battle royales and MOBAs, attract massive audiences and competitive scenes. PC gaming remains a stronghold in esports, with laptops and desktops offering high-performance gaming experiences for professional players. Competitive titles such as first-person shooters (FPS) and strategy games thrive on PC due to precise controls and superior graphics. Gaming consoles, including PlayStation, Xbox, and handheld devices, contribute significantly to esports, with major tournaments dedicated to console-based games. Other devices, including virtual reality (VR) and smart TVs, are emerging as potential platforms for esports engagement, offering immersive experiences and expanding the audience base. The accessibility of esports across multiple devices ensures its widespread appeal, allowing gamers and viewers to participate in competitive gaming in ways that suit their preferences and technological capabilities.
Esports encompasses various game types, each attracting different player bases and competitive structures. Shooter games, including first-person shooter (FPS) and third-person shooter (TPS) titles, dominate the esports landscape, with franchises like Call of Duty and Counter-Strike maintaining global appeal. Multiplayer Online Battle Arena (MOBA) games, such as League of Legends and Dota 2, offer strategic, team-based gameplay that draws millions of viewers during major tournaments. Real-time strategy (RTS) games emphasize tactical decision-making, with competitive titles like StarCraft requiring quick reflexes and strategic planning. Fighting games, including franchises like Street Fighter and Tekken, attract a dedicated esports audience, with international tournaments showcasing high-skill matchups. Beyond these, other game genres such as role-playing, racing, simulation, and sports games contribute to the esports ecosystem. Titles like FIFA, Gran Turismo, and The Sims have carved out their niches within competitive gaming, demonstrating the industry's diverse appeal. The broad spectrum of esports game types ensures continued market growth, catering to different player interests and fostering the expansion of competitive gaming worldwide.
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