The net worth of eSports and game streaming market share was figured out to be around US$ 2,357.1 million in 2022. Over the forecast period from 2023 to 2033, its market is anticipated to grow at an annual average growth rate of 11.9%. The market further estimates the market valuation to reach up to US$ 7,725.9 million by 2033 growing from US$ 2,589.6 million in 2023. The demand for eSports and game streaming services has been spurred by the rising percentage of internet users and mobile gamers.
The main reasons encouraging the market growth include an increase in live streaming of digital games, along with growing audience reach by reducing data costs. Moreover, significant investments in improving engagement activities, and infrastructure for league competitions have also strengthened the market in the last few years. For instance, in 2003, China declared esports to be an official sport that offered the nation’s esports operators some professional jobs.
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Due to the growing popularity of gaming competitions millennials are viewing eSports as a viable alternative for a professional career. The emerging trend of one-to-one sponsorships, streaming earnings, and big international prize pools have also boosted the demand substantially. To foster the development of qualified professionals, many schools and institutions have also begun organizing specialized eSports and game events.
Key Takeaways from the eSports and Game Streaming Market Study Report
- As per the report, the market is going to witness an absolute increment opportunity of US$ 5,136.3 million over the next ten years.
- In 2022, North America captured a sizable revenue share of nearly 37.2%, with the United States contributing almost two-thirds of it. For many years, the country has consistently controlled the market and its global market share in 2022 was 24.3%.
- The sales of eSports and game streaming subscriptions in Europe accounted for nearly 22.4% of the global revenue generated in the year 2022.
- The service providers based in Germany are the leading players in Europe and together contributed 8.7% of the global market revenue.
- Over the forecasted years, the overall market is expected to be dominated by the Asia Pacific countries like China and India. Though the annual CAGR of China is 8.8%, India is surprisingly anticipated to follow a CAGR of 13.8% through 2033.
- Based on different types of solutions, the web-based eSports and game streaming services contributed to an astounding 67.9% of the market revenue in 2022. While, among the different revenue streams of the market, eSports and game streaming services through subscriptions contributed 23.2%.
Competitive Landscape for the eSports and Game Streaming Market Players
Amazon, Douyu TV, YouTube Gaming, Facebook Gaming, and Mixer of Microsoft are some prominent players in the global market. The market players operating in this sector are benefitting from the lucrative prospects made possible by the growing formalization of, gamers, game creators, and event planners.
Korean eSports Association and SK Telecom agreed to sign a three-year sponsorship agreement for eSports and game streaming services in April 2022. After this new arrangement, the SK Telecom Company is now KeSPA’s official sponsor and is also coaching the Korean eSports squad for future Asian tournaments. During the anticipated term, several market-related efforts and innovations are anticipated to fuel additional growth.
Recent Developments:
- In October 2021, FaZe Clan Inc. signed a definitive merger agreement (the Merger Agreement) to combine with B. Riley Principal 150 Merger Corp.(BRPM). A special purpose acquisition company sponsored by an affiliate of B. Riley Financial, Inc. (RILY) (B. Riley Financial). Through the proposed business combination, FaZe Clan is positioned to become one of the only digitally native, youth-focused lifestyle and media platforms publicly traded on a United States national exchange.
- In May 2021, LaLiga, Spain’s premier football association, and Microsoft Corp. announced an expansion of their partnership. It is focused on digitally transforming the sports experience globally. The companies also collaborated on developing technology solutions for the media and entertainment industry through LaLiga’s technology offering, LaLiga Tech.
- In May 2021, Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company, and the National Hockey League (NHL) debuted two new advanced analytics during the 2021 Stanley Cup Playoffs. The new stats, powered by AWS, use cloud technologies such as analytics, server-less computing, and media services to gather data from the ice in real-time. It analyzes and visualizes it for fans as graphics appearing on the broadcast.
Key Players:
- Amazon.com, Inc.
- Douyu TV (Tencent Holdings Limited)
- YouTube Gaming (Alphabet Inc.)
- Facebook Gaming
- Mixer (Microsoft Corporation)
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eSports & Games Streaming Market Segmentation:
By Revenue Streams:
- Media Rights
- Subscriptions
- Online Advertisements
- Tickets and Merchandise
- Sponsorships and Direct Advertisements
- Publisher Fees
By Solutions:
- Web Based
- App Based
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
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