The demand for eSports and game streaming services has been spurred by the rising percentage of internet users and mobile gamers.
The net worth of eSports and game streaming market share was figured out to be around US$ 2,357.1 million in 2022. Over the forecast period from 2023 to 2033, its market is anticipated to grow at an annual average growth rate of 11.9%. The market further estimates the market valuation to reach up to US$ 7,725.9 million by 2033 growing from US$ 2,589.6 million in 2023.
The main reasons encouraging the market growth include an increase in live streaming of digital games, along with growing audience reach by reducing data costs. Moreover, significant investments in improving engagement activities, and infrastructure for league competitions have also strengthened the market in the last few years. For instance, in 2003, China declared esports to be an official sport that offered the nation’s esports operators some professional jobs.
The eSports and Games Streaming Market is a rapidly growing sector that encompasses competitive gaming events and platforms where gamers stream their gameplay to audiences worldwide. With the rise of online gaming and platforms like Twitch, YouTube Gaming, and Facebook Gaming, eSports has become a multi-billion dollar industry, attracting millions of viewers and participants. This market continues to expand with increasing investments, sponsorships, and technological advancements, shaping the future of entertainment and competitive gaming.
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Due to the growing popularity of gaming competitions millennials are viewing eSports as a viable alternative for a professional career. The emerging trend of one-to-one sponsorships, streaming earnings, and big international prize pools have also boosted the demand substantially. To foster the development of qualified professionals, many schools and institutions have also begun organizing specialized eSports and game events.
Key Takeaways from the eSports and Game Streaming Market Study Report
Competitive Landscape for the eSports and Game Streaming Market Players
Amazon, Douyu TV, YouTube Gaming, Facebook Gaming, and Mixer of Microsoft are some prominent players in the global market. The market players operating in this sector are benefitting from the lucrative prospects made possible by the growing formalization of, gamers, game creators, and event planners.
Korean eSports Association and SK Telecom agreed to sign a three-year sponsorship agreement for eSports and game streaming services in April 2022. After this new arrangement, the SK Telecom Company is now KeSPA’s official sponsor and is also coaching the Korean eSports squad for future Asian tournaments. During the anticipated term, several market-related efforts and innovations are anticipated to fuel additional growth.
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eSports & Games Streaming Market Segmentation:
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Feb 14, 2024