In 2021, the global eSports market was valued at just over 1.22 billion U.S. dollars and was expected to grow to a value of 1.44 billion in 2022. The market was forecast to reach a value of 5.48 billion in 2029, representing a compound annual growth rate of 21 percent during this period.
The term “eSports” is characterized by regional or international video gaming events in which professional and amateur players compete against each other. Whilst competitions have long since been a component of the video gaming industry, it wasn’t until relatively recently that eSports as a professional form of competitive video game play grew in popularity, with video game developers often organizing and funding many of the most popular eSport tournaments, which involve games such as League of Legends, Dota 2, Counter-Strike, Valorant, Overwatch, Street Fighter, Super Smash Bros., and StarCraft. These tournaments often incorporate either multiplayer online battle arena video game (MOBA), first-person shooter (FPS), combat, card, battle royale, and real-time strategy (RTS) games.
The esports market consists of a variety of different revenue segments, including consumer spending on video games, the sale of physical and digital copies, in-game purchases, and subscription services. Revenue is also generated through sponsorship deals and media rights, and through the merchandise and ticket sales associated with many eSports tournaments held each year. During 2022, sponsorships were expected to generate the greatest revenue at over 837 million U.S. dollars. Media rights constituted the second largest revenue stream with an expected value of 207.8 million U.S. dollars in 2022. When looking at the global distribution of the eSports market revenue, China was anticipated to be the largest eSports market worldwide in 2021, generating an estimated 360.1 million U.S. dollars within the industry, followed by the U.S. with 243 million U.S. dollars.
eSports market size worldwide in 2021, with a forecast for 2022 and 2029
(in billion U.S. dollars)
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GlobeNewswire. (September 15, 2022). eSports market size worldwide in 2021, with a forecast for 2022 and 2029 (in billion U.S. dollars) [Graph]. In Statista. Retrieved December 09, 2022, from https://www.statista.com/statistics/1256162/global-esports-market-size/
GlobeNewswire. "eSports market size worldwide in 2021, with a forecast for 2022 and 2029 (in billion U.S. dollars)." Chart. September 15, 2022. Statista. Accessed December 09, 2022. https://www.statista.com/statistics/1256162/global-esports-market-size/
GlobeNewswire. (2022). eSports market size worldwide in 2021, with a forecast for 2022 and 2029 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: December 09, 2022. https://www.statista.com/statistics/1256162/global-esports-market-size/
GlobeNewswire. "Esports Market Size Worldwide in 2021, with a Forecast for 2022 and 2029 (in Billion U.S. Dollars)." Statista, Statista Inc., 15 Sep 2022, https://www.statista.com/statistics/1256162/global-esports-market-size/
GlobeNewswire, eSports market size worldwide in 2021, with a forecast for 2022 and 2029 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1256162/global-esports-market-size/ (last visited December 09, 2022)