Samsung has signed a sponsorship deal with Guild Esports – the esports company co-owned by David Beckham, former English footballer. This is Samsung’s first deal with a British esports team. The total amount of the deal is not revealed, however, half of it is expected to be paid in cash and the other half as value in kind by providing monitors for the company. Guild Esports was listed on the London Stock Exchange in October last year. The e-sports industry is receiving quite a lot of attraction from big players in several other sectors. Recently, Ralph Lauren had announced partnership with the leading esports company G2 Esports. This interest in the esports industry was imminent, given significant growth forecasts for the esports market according to the latest report by The Business Research Company.
As per data on the Global Market Model, the global esports market size is expected grow from $0.97 billion in 2020 to $1.28 billion in 2021 at a compound annual growth rate (CAGR) of 32%. The market is expected to reach $2.89 billion in 2025 at a CAGR of 23%. North America was the largest region in the esports market in 2020, having grown from $178.0 million in 2015 to $354.0 million in 2020 at a CAGR of 14.7%. The North American market is expected to grow to $657.6 million in 2025 at a CAGR of 13.2%, and to $1,134.0 million in 2030 at a CAGR of 11.5%. Asia Pacific was the second largest region, growing from $149.8 million in 2015 to $340.6 million in 2020 at a CAGR of 17.9%.
Some of the key esports market drivers include increased awareness in esports, rise in the live streaming of games that generated interest in esports, and an increase in the international prize pool for esports. However, lack of standardization is still limiting the growth of the market. Rising penetration of mobile, tablet and other electronics and the emergence of affordable internet in developing countries, along with the increase in sponsorships, are also expected to drive the esports market.
Sponsorship is the largest revenue generating source for the esports market followed by media rights, publisher fee, merchandise and tickets, and advertising. With the kind of action happening in the industry around sponsorships and other partnerships, this is expected to remain the largest revenue generating segment. By type of games, multiplayer online battle arena (MOBA) is the largest revenue generating segment in the market followed by fighting and sports, first person shooter, and real time strategy games.
Companies in the esports market are making big investments in new innovative platforms to drive income generation, grow customer base, and gain a competitive edge in the market. The COVID-19 pandemic had an impact on the launch of new hardware in the market as hardware production facilities were closed at several locations across the globe to restrain the spread of the virus. Apart from the restrained hardware production, many software games launches were also deferred, affecting the entire future pipeline. For instance, in 2020, the Riot, a California-based video game developer, publisher, and esports tournament organizer, delayed the release of its awaited game Wild Rift stating the global lockdowns.
The Esports Global Market Report is one of a series of new reports from The Business Research Company that provides esports market overviews, analyzes and forecasts esports market size, share, esports market players, esports market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.
About The Author
Moïn has over a decade of experience in market research, analysis, and consulting. He has worked with some prominent market intelligence firms in India including Progressive Digital Media, Ovum, and GlobalData. At TBRC, he is involved in reporting insights on technology and media sectors, along with market data and trend analysis, and understanding competition dynamics. His project experience includes a market strategy study for an AI-based marketing software for telecom companies. He has worked for several clients including Amazon, Sony, Flytxt, Fujitsu, and several tech companies. He has a bachelor’s degree in Biotechnology and a postgraduate degree in management from IMI Belgium.
About The Global Market Model
The Global Market Model is the world’s most comprehensive database of integrated market information available. The ten-year forecasts in the Global Market Model are updated in real time to reflect the latest market realities, which is a huge advantage over static, report-based platforms.
Here Are A Few Reports Related To The Esports Market From The Business Research Company –
Interested To Know More About The Business Research Company?
The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology. The Global Market Model is The Business Research Company’s flagship product.
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Follow us on LinkedIn: https://in.linkedin.com/company/the-business-research-company
Follow us on Twitter: https://twitter.com/tbrc_info
Check out our Blog: https://blog.tbrc.info/