LONDON, June 30, 2021 (GLOBE NEWSWIRE) – According to The Business Research Company’s esports market research report, esports popularity has grown rapidly in the wake of the COVID-19 pandemic as people research alternative entertainment due to cancellations of sporting events around the world. This growing recognition of esports fills a social void and helps bring entertainment into many homes. This allows people to connect with each other even when locked out.
According to the 2020 Esports Survey report conducted by Foley & Lardner LLP and The Esports Observer, nearly 61% of respondents said the driving force behind this trend is continued social distancing which drives engagement with esports. Another 61% cited that the growth of online streaming platforms has boosted the market, and 52% of those polled said the increased movement of big brands towards esports sponsorships.
The size of the global esports market is expected to grow by $ 0.97 billion in 2020 to $ 1.28 billion in 2021 at a compound annual growth rate (CAGR) of 32%. The growth is mainly due to companies resuming operations and adjusting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, the remote work and closure of business activities which resulted in operational challenges. The market is expected to reach $ 2.89 billion in 2025 at a CAGR of 23%.
The Business Research Company report titled E-Sports Global Market Report 2021: COVID 19 Growth And Change to 2030 covers major esports companies, esports market share by company, esports manufacturers, market size esports market and esports market forecast. The report also covers the global esports market and its segments.
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The global esports market is fragmented, with a large number of small players. the the ten best competitors on the market composed of 69% of the total market in 2020. This may be due to the existence of a number of local market players serving customers in particular geographic areas. Activision Blizzard Inc. was the biggest competitor with 21.85% market share, followed by Modern Times Group MTG AB with 14.15%, Tencent with 11.04%, Valve Corporation with 8.03%, Electronic Arts Inc . with 3.78%, Nintendo with 2.82%, Team SoloMid (TSM) with 2.10%, Cloud9 with 1.96%, Take-Two Interactive with 1.87% and Riot Games Inc. with 1.40 %.
The esports market is experiencing an increase in mergers and acquisitions as market competitors seek to deepen and strengthen their product portfolio. This allows businesses to establish category leadership and potentially increase revenue. For example, in 2021, Niantic, an American software development company, acquired Mayhem, a San Francisco-based company that builds social gaming community platforms. Additionally, according to the Quantum Tech Partners report, M&A activity in the esports market grew to 50 deals valued at $ 658 million in 2020, up from 33 deals valued at $ 475 million in 2019.
North America was the largest region of the esports market in 2020, grew from $ 178.0 million in 2015 to $ 354.0 million in 2020 at a compound annual growth rate (CAGR) of 14.7%. The market is expected to reach $ 657.6 million in 2025 at a compound annual growth rate (CAGR) of 13.2%, and to reach $ 1,134.0 million in 2030 at a compound annual growth rate 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 compound annual growth rate (CAGR) of 17.9%.
Global Esports Market Report 2021: COVID 19 Growth And Change to 2030 is part of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast the market size and growth for the overall market, segments and geographies, trends, drivers, restraints, revenues, profiles and market shares of major competitors in over 1,000 industry reports, covering over 2,500 market segments and 60 geographic areas. The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are backed by 150,000 datasets, in-depth secondary research and proprietary information from interviews with industry leaders. A team of highly experienced and expert analysts and modelers provide market analysis and forecast. The reports identify major countries and segments for opportunities and strategies based on market trends and approaches of major competitors.
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