How fast did eSports grow?

The global eSports market size was valued at USD 1.22 billion in 2021 and is projected to grow from USD 1.44 billion in 2022 to USD 5.48 billion by 2029, exhibiting a CAGR of 21.0% during the forecast period.

How fast are eSports growing?

As competitive video games continue to integrate into popular culture, global investors, brands, and media outlets are all paying attention. Consumers are as well. In fact, Insider Intelligence estimates esports viewers in the US will total 29.8 million in 2022—eventually climbing to 34.8 million in 2026.

When did eSports start growing?

As the 2000's rolled around, Esports gained serious momentum. Tournament hosts such as the World Cyber Games and the Electronic Sports World Cup debuted, followed by the launch of Major League Gaming (MLG) in 2002. Today, MLG is considered one of the world's most prominent hosts in Esports.

What caused eSports to grow so fast?

The social aspect of live streaming and gameplay is a major reason why eSports have reached such heights. Fans can interact directly with players and teams through video game-specific streaming services like Twitch and YouTube Gaming, while more widely used social networks have fostered these relationships.

Is eSports one of the fastest growing industries?

While the gaming industry has been around since Pong, the term esports wasn't introduced until the 1990s and didn't start gaining traction until the early 2000s. Despite being a niche subculture, it is one of the fastest-growing industries in the world.

Esports is growing into a $1 billion industry | CNBC Sports

How much has eSports grown since 2016?

The global esports market is expected to grow 43 percent from $325 million in 2015 to $463 million in 2016, according to a new report by market researcher Newzoo. By 2019, esports are expected to grow to $1.1 billion.

What is the projected growth of the eSports industry?

Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 8.31%, resulting in a projected market volume of US$2,235.00m by 2027. The market's largest segment is Sponsorship & Advertising with a market volume of US$894.60m in 2023.

Will esports be bigger than sports?

It's estimated that the global sports industry will grow to a value of around $350 billion by 2031. By the same time, the esports industry is expected to be worth around $3.5 billion, suggesting immediately that the esports vertical is worth a mere 10% of the value of the sports industry.

How much will the esports industry be worth in 2030?

Global Esports Market Report 2023-2030: A $1.39 Billion.

Is the eSports market growing?

The global eSports market size was valued at USD 1.22 billion in 2021 and is projected to grow from USD 1.44 billion in 2022 to USD 5.48 billion by 2029, exhibiting a CAGR of 21.0% during the forecast period.

How big is eSports in USA?

In the eSports market, the number of users is expected to amount to 41.36m users by 2027. User penetration will be 9.1% in 2023 and is expected to hit 12.0% by 2027. The average revenue per user (ARPU) is expected to amount to US$10.39.

What is the fastest growing eSports game?

Valorant is one of the fastest-growing eSports games on the planet. It was only released back in 2020, but in just a few years it has already become a regular in the eSports betting world.

Does esports have a future?

The Indian gaming and esports sector has witnessed tremendous growth over the past few years, and there is no doubt that this growth will skyrocket even more in the years to come. Industry estimates predict that the number of online gaming users in India is poised to grow from 481 Mn in 2022 to over 657 Mn by 2025.

What is the biggest esport right now?

1st place — League of Legends

The title of the most popular esports discipline in 2022 goes to League of Legends. Tournaments in the iconic MOBA by Riot Games accumulated 617K Hours Watched, 7% fewer from 2021.

What popularized esports?

The fighting game Street Fighter II (1991) popularized the concept of direct, tournament-level competition between two players.

Why esports is not profitable?

Esports still garner millions of fans, but it is hard to monetize. The most popular esports games are owned by big companies that receive most of the profits, so investors aren't getting the money they want, causing them to put the money elsewhere.

Who popularized esports?

With Space Invaders, Atari laid the foundation for the world's first major eSports tournament in 1978. The early gaming classic was played at the 1980 Space Invaders Championships by over 10,000 gamers competing to win a version of Asteroids.

Who is the oldest active esports?

Hamako Mori (born 18 February 1930), better known by her online alias Gamer Grandma, is a Japanese video game YouTuber and esports player. She is known to have been playing video and esports games since 1981.

Why esports become popular?

The massive revenue in the esports market is one reason why, in 2022, 532 million people worldwide watched esports, and in 2025, this number will likely skyrocket to over 640 million audience members. Another reason behind the popularity of esports is how Millennials and Gen Z view the practice.

How old is the average esports gamer?

The demographic of gamers that follow esports is between 18 and 34 years old. The average esports fan is a young adult - either a young Millennial, or an older member of Generation Z.

What will video gaming be like in 2050?

One feature that did come up a lot was removing the need for a console in 2050. Instead, gamers would just need a holographic HUD or dashboard that they can turn on with just a button and choose what they want to play. This would remove the need for making space for consoles, or even choosing which console to buy.

What is eSports life span?

How long is an eSports gamer's career length? Retiring in the mid-20s is the norm in eSports and this has been the routine for some time. That means an eSports player has just about six to eight years in the game, and that's if such player recognized and join a professional team at an early age.

What is the future of a gamer?

The future of gaming looks bright, with the emergence of new technologies such as virtual reality and the increased prevalence of mobile gaming. Virtual reality (VR) has the potential to revolutionize the gaming industry by immersing players in a fully interactive and realistic digital world.

Is esports viewership declining?

The competition's audience numbers have remained steady since, with the season 14 finals in 2021 delivering 758,000 viewers, while the season 15 and season 16 finals last year were watched by a peak audience of 413,000 and 509,000, respectively.