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Impact of COVID-19 on Electronic sports (eSports) Market to 2023 – Featuring Rovio Entertainment, Nintendo, Electronic Arts, and Alisports Among Others

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Impact of COVID-19 on Electronic sports (eSports) Market to 2023 – Featuring Rovio Entertainment, Nintendo, Electronic Arts, and Alisports Among Others

May 06
13:18 2020
Impact of COVID-19 on Electronic sports (eSports) Market to 2023 - Featuring Rovio Entertainment, Nintendo, Electronic Arts, and Alisports Among Others
The “Global Esports Market – Industry Analysis, Size, Share, Growth, Trends, Opportunity and Forecast 2020- 2023” report has been added to Reportocean.com’s offering.

The Global eSports Market is estimated to grow at a CAGR of 17.72% during the forecast period 2020-2023. As per the market studies, the global eSports Market was valued $694.2 million in the year 2017 and is estimated to reach $2,174.8 million by the end of the year 2023.

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Electronics sports (eSports) are competitive sports tournaments that are organized for video game players. eSports events also consist of tournaments and competitive leagues. The revenue generated in the eSports tournaments are through media rights, merchandise, tickets, advertisements and sponsorships. In this, sponsorships play a major role in the esports business. eSports events are remotely operated and controlled through virtual presence of organizers, team players, referees, audience and others. Some of the major eSports events are ESL Pro League, Overwatch League, PUBG Mobile World League among others.

The global eSports industry is driven by increasing number of companies that are investing in eSports market. Also, the easy penetration of new sponsors, and increasing player wages act as a major growth factors for the global eSports market. Analysing the broad aspect of the media industry, e-sports market led the market by leveraging live-production, virtualized and cloud-based workflows to host competition in different locations between players. However, companies are required to focus on providing stable internet connections amongst observers, technical directors and producers. Hence, latency can hamper the smooth market growth of the online games, which can be resolved by offering low latency video streaming solutions.

The eSports industry is generating huge revenues considering the rising trend of eSports amongst various age-groups. Considering the impact of COVID-19 pandemic, the industry witnessed a whole new spin from the demand viewpoint and revenue generation. The transition to online only events and temporary stoppage of offline activities impact the revenue generation from ticket sales and merchandise in negative manner.

Although, the eSports market is witnessing a positive support from various established and government-owned organizations from around the world through strategic collaborations and partnerships. For instance, the Global Esports Federation has partnered with the Commonwealth Games Federation. The strategic partnership is majorly focused upon to develop a pathway for the young players and the entire Commonwealth. Both organizations will work together within Transformation 2022—a plan by the Commonwealth Sport Movement.

Segmentation Overview of the Global eSports Market

The global eSports market is studied on the basis of revenue stream. The market segment is sub-segmented into:

  • Media Rights
    • Online Advertisements
    • Subscriptions
  • Publisher Fees
  • Sponsorships and Direct Advertisements
  • Tickets and Merchandise

As per the market study, the media rights segment accounted to hold majority of the market share and is expected to grow at the highest CAGR during the forecast period. The segment is estimated to contribute highly in the global market with easy access to a communication technology. The segment dominance is due to the exclusive rights paid by media organizations to broadcast the live streaming of top esports events.  

Geographical Overview of the Global eSports Market

The geographical segmentation of the global eSport Market include:

  • Asia Pacific (China, Japan, South Korea, Australia, Malaysia, Taiwan, Philippines and Rest of APAC)
  • North America (US, Canada and Mexico)
  • Europe (UK, Germany, France, Sweden, Spain, Italy, Poland, Denmark and Rest of Europe)
  • Rest of the World (RoW) (South America and Middle East and Africa)

As per the market analysis, the Asia-Pacific Market is estimated to dominate the global eSports market with highest market share during the forecast period. The region accounted for ~1/3rd of the overall market share in the year 2017. The regional growth is attributed to increasing number of esports competitions in the APAC region. The APAC region is an opportunistic region considering the growth of the gaming industry. Moreover, the region has ease of entry for the market players with high number of eSports brands, sponsors and spectators. The increasing internet penetration in India offers some lucrative opportunities for the regional eSports market. For instance, Asus ROG (Republic of Gamers), the Game division of Asus India is holding an e-Gaming Tournament under the title ‘ROG Showdown with Counter Strike: Global Offensive’.

Key Players Insights

Alisports, Gungho Online Entertainment, Rovio Entertainment, Wargaming Public, Kabum, Hi Rez Studios, Gfinity, Faceit, Turner Broadcasting System, Nintendo, Electronic Arts, CJ Corporation, Valve Corporation, Activision Blizzard and Modern Times Group are some major players included in the research study of the global eSports market. The company profiling section of the research study include various sub-sections such as Company Overview, Products Portfolio, Financial Performance, SWOT Analysis and Recent Key Developments.

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