Global E-Sports Market to Exceed USD 952 Million by 2019, According to Technavio
According to Technavio's latest report, the global e-sports market is expected to grow from USD 199 million in 2014 to USD 952 million by 2019, growing at a CAGR of over 36%.
The market for e-sports is growing in popularity as e-sports creates an environment where the viewer can experience fame and enjoyment. It is considered to be one of the most popular online entertainments in the world.
There is tremendous value for gamers in the market and an increasing number of gamers are aspiring to be professional gamers. Since 2013, e-sports gamers in the US have been given the same visas as professional athletes while representing their country in tournaments abroad.
According to Soumya Mutsuddi, a lead research analyst at Technavio for the gaming industry, "The market is fast paced and genre preferences are changing rapidly, as a result of which interest in e-sports is not likely to decline. Therefore the market growth rate is not likely to stagnate during the forecast period."
In this report, Technavio covers the present scenario and growth prospects of the global e-sports market 2015-2019. The report also presents the vendor landscape and a corresponding detailed analysis of the top six vendors operating in the market. The market is segmented into the following three regions:
Americas: largest market for e-sports
The e-sports market in Americas is expected to exceed USD 405 million by 2019, growing at a CAGR of over 38% during the forecast period. The Americas is the fastest growing region for e-sports. One of the major factors is the rising popularity of e-sports leagues such as major league gaming. The league has huge recognition worldwide with global viewers growing by 100% in 2014.
The popularity of e-sports has been fostered by the ease of viewing e-sports. Channels such as Twitch and YouTube, which are available for free for viewing of e-sports are helping to increase the popularity of the sport in this region. Also e-sport gamers are being given the same visas as professional athletes in the USA, encouraging aspiring gamers to take up the sport professionally.
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APAC: pioneers of e-sports
APAC is globally considered to be the hub of professional gamers. South Korea was the pioneer and the largest market for e-sports however, it has now reached maturity and the growth of the market has stagnated in South Korea.
Even though the market for e-sports is on the decline in South Korea and Japan, penetration of e-sports in developing countries such as Taiwan, Malaysia, and Singapore is growing rapidly. The e-sports market in APAC is expected to reach USD 300 million by 2019, growing at a CAGR of over 34% during the forecast period.
EMEA: fastest growing region for e-sports
The popularity of e-sports is the highest in Europe with a growing number of gamers aspiring to become professional e-sports athletes. The number of viewers of e-sports is the highest in EMEA with 80 million viewers out of a total global figure of 200 million viewers.
One of the main factors that has fostered the growth of e-sports in this region are leagues such as the European gaming league. The league organizes tournaments on prominent games such as Call of Duty, League of Legends, Dota 2, and Counter strike: Global offensive.
"Despite the economic crisis in the Eurozone, the market is expected to grow significantly during the forecast period. The e-sports market in EMEA is expected to exceed USD 247 million by 2019, growing at a CAGR of almost 37% during the forecast period," says Soumya.
- Activision Blizzard
- Epic Games
- Riot Games
- Valve Corporation
Some of the other prominent vendors listed in the report are: EA Sports, Hi-Rez Studios, and Microsoft Studios.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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