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Written by Ravinder » Updated on: November 19th, 2024
The latest report by IMARC Group, titled “Esports Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” provides an extensive analysis of the industry, including esports market statistics. The report also covers competitor and regional analysis and the latest advancements in the global market.
The global esports market size reached US$ 1.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 8.2 Billion by 2032, exhibiting a growth rate (CAGR) of 18% during 2024-2032.
Esports Market Overview:
Esports, short for electronic sports, refers to competitive video gaming at a professional level. It involves organized, multiplayer video game competitions between individuals or teams, often in genres such as first-person shooters, real-time strategy games, or multiplayer online battle arenas. Esports has evolved into a global phenomenon with organized leagues, tournaments, and a dedicated fan base. Like traditional athletes, professional esports players compete for prizes and recognition, with some achieving celebrity status. The industry encompasses diverse roles, including players, coaches, commentators, and organizers. Esports events are often live-streamed, attracting millions of viewers worldwide, and the industry continues to grow, driven by technology, increased accessibility, and the passion of the gaming community.
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Global Esports Market Trends:
The global market is majorly driven by the growth of high-speed internet and online streaming platforms. The rise of platforms like Twitch and YouTube Gaming enables fans to spectate matches and tournaments and engage with esports content in real-time. Furthermore, increased investment from mainstream media, tech companies, and traditional sports organizations has injected substantial capital into the industry, elevating production quality, infrastructure, and overall professionalism. Major brands recognize the value of esports audiences, leading to lucrative sponsorship deals and endorsements.
Moreover, the competitive and social nature of gaming resonates with a tech-savvy demographic, particularly among the younger generation, driving sustained interest and participation. Esports' recognition as a legitimate form of entertainment, with professional players attaining celebrity status, has further boosted its mainstream appeal. Additionally, the COVID-19 pandemic accelerated the trend as traditional sports faced disruptions, redirecting attention to esports, which could continue unabated digitally. As these factors intersect, the esports market continues its meteoric rise, evolving from a niche subculture to a global industry with massive economic potential and cultural influence.
Competitive Landscape with Key Players:
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Breakup by Games:
Breakup by Platform:
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Key Highlights of the Report:
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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