Esports Market Size, Share, Growth Analysis, By Device Type(Smart Phone, Smart TV), By Revenue Model(Sponsorship, Advertising), By Type(Multiplayer Online Battle Arena (Moba), First-person Shooter (Fps)), By Streaming Platform(Twitch, Youtube), By Audience(Tournament Organizers, Alliances) - Industry Forecast 2024-2031

Esports Market Driver

• Numerous factors such as a surge in awareness of video games and the rise in popularity of Esport drive the growth of the esports market worldwide. Long-term investment initiatives are taken by big companies and an increase in the number of tournaments with huge prize create rewarding occasions in the market during the forecast period.
• The increasing use of smartphones across the world’s developing economies is due to numerous factors such as an increase in per capita income, cost of affordability, multiple low price options with significant features, and many more. There are over two billion gamers across the globe. This is just 26% of the whole population and it is still increasing. As the demand for esports events is increasing it will create lucrative opportunities for the Esport industry worldwide.

Esports Market Restraint

• The lack of proper gambling policy and lack of standardization, such as betting and gambling limit the market growth for this sector.
• As the esports business is still in its early stages, both organizations and players confront a number of challenges. Many tournament participants and gamers have difficulty determining the legitimacy of tournaments. Along with the growing number of tournaments, the number of scams and fraudsters is also growing, posing challenges for genuine and legitimate esports tournament organizers. The lack of standardization in the esports industry also reflects the ongoing challenges that players, tournaments, teams, and their advertising, sponsorships, or contracts confront.