The Global eSports Market Will Grow to USD $1617.7 Million by 2024, at a CAGR of 11.1% - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "eSports Market Research Worldwide 2021 Report" report has been added to ResearchAndMarkets.com's offering.

In 2021, the global eSports market was expected to generate $1084.1 million in annual revenues, representing year-on-year growth of 14.5%.

It is believed that China will generate more than a third of worldwide eSports revenues. Looking further forward to 2024, eSports revenues will reach $1617.7 million, showing a Compound Annual Growth Rate (CAGR) of 11.1% from 2019-2024. The growth of this market is attributed to the increasing popularity of video games and growing awareness about eSports.

While certain segments of eSports revenues took a hit due to the pandemic, such as the decline in ticket and merchandise revenues due to the cancelation of in-person events, other segments are expected to perform well. It is estimated that more than three-quarters of the total 2021 eSports market revenues or $833.6M will come from media rights and sponsorships.

In 2021, the global eSports audience will grow +6.7% year-on-year to reach 465.1 million. The eSports enthusiast group will account for 229.6 million, with occasional viewers making up the remaining 235.5 million.

By 2024, Newzoo estimates the eSports audience will reach 577.8 million. There are several factors to support this audience growth including growth in the global gaming audience as well as the increasing prize pools of eSports, which is expected to continue to build interest among players and fans. More and more traditional football clubs are getting involved in eSports, mainly maintaining a FIFA team. Some of the FCs even have their separate eSports division and new partners that sponsor their eSports teams only.

The report highlights the following current and future trends:

• market growth bolsters with engaging gaming competitions during COVID-19 pandemic
• virtual eSports programs build large and reliable Gaming Ecosystems
• eSports courses help teach students ways to run any eSports company
• considerable demand for gaming leads to long-term investment opportunity
• eSport market provides a competitive landscape for many investors
• eSports companies are looking for cost-effective ways through partnerships
• eSports teams will continue to diversify
• mobile eSports enter the upper echelon
• China is the next eSports region to look out for
• non-gaming content becomes even bigger on streaming platforms

Revenue opportunities for eSports teams are still fairly limited. The revenues of top eSports organizations range from $4 million to $25 million.

There are three main revenue sources for an eSports team:

sponsorships, merchandise sales, and revenue share from participation in leagues and championship events. Total costs of an eSports team typically include the costs of participating in live events and video production for streams, coaching and staff salaries, business overheads, marketing, a game house or other, and most importantly player salaries.

One of the most common concerns leveraged against investing in eSports is the risk of rapid turnover for specific games. Most video games struggle to retain a large player base for more than five years. However, many cases of long-term and "expensive" partnerships between eSports teams and their sponsor companies can be a proof of sustainable optimistic attitude towards the eSports industry.

eSports teams today are more considered as tech startups than as sports teams, which is why they are not trying to be profitable in the short-term period but rather reinvest their revenue in the company to scale and grow, as the industry is booming, and the growth rates are quite promising.

Key Topics Covered:

1. Executive Summary

2. Market Overview

3. Audience

4. Sports Leagues Are Investing in Esports

5. Traditional Football Clubs and Esports

6. Venture Investments in Esports

7. Trends

8. Esports Teams: Valuation, Revenue, And Costs

9. Revenue Streams

10. Costs

11. Assumptions And Calculations

Companies Mentioned

• Cloud9
• TSM
• Team Liquid
• FaZe Clan
• 100 Thieves
• Gen.G
• Enthuiast Gaming
• G2 eSports
• NRG Esports
• T1

For more information about this report visit https://www.researchandmarkets.com/r/cic1eu