How fast 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.

Is esports the fastest-growing sport?

One of the fastest-growing sports in the world is eSports. Since entering the mainstream, competitive gaming has skyrocketed in popularity, especially among people under 40.

Is the esports market growing?

Revenue in the eSports market is projected to reach US$1,624.00m in 2023. 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.

How fast is the esports industry 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.

Is esports one of the fastest growing industries?

Despite being a niche subculture, it is one of the fastest-growing industries in the world. Estimated to reach $1.62 billion by 2024, the esports industry has a long history, rising to contemporary prominence as one of the most-watched competitions in history.

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

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.

How popular is esports now?

Esports audience size has grown year-over-year between 2019 and 2021. In 2019, there were an estimated 197 million Esports enthusiasts. And a further 200.8 million occasional Esports viewers. In 2021, these figures grew to 234 million Esports enthusiasts.

How much is the esports industry growing?

In the coming year, the global esports economy will generate revenues of $1.1 billion, a year-on-year growth of +15.7%. Most of these revenues (74.8%) will come from sponsorships and media rights, which will total $822.4 million, a +17.2% increase from last year.

Why esports is a growing industry?

The alignment of entertainment and gaming will influence the growth of the entire sports industry, including online streamers and small and big-budget game developers. The increasing investments from commercial partners and substantial audience growth have resulted in revenue growth in the esports market.

What is the number 1 growing sport in the world?

A hybrid of badminton, pingpong and tennis, it was the fastest-growing sport in the country from 2019 to 2021, according to an industry group that tracks sport participation. Wendy Siegel had never played a sport in her life.

What are the top 10 fastest growing sports?

What is the fastest growing sport ever?

Pickleball is the fastest-growing sport in the U.S., and an increasingly popular way to network. A recent report from the Sports & Fitness Industry Association found that pickleball—the “fastest-growing sport in America”—has attracted 4.8 million players nationwide (a 40% increase since 2020).

How big is esports industry in US?

Revenue in the eSports market is projected to reach US$317.00m in 2023. Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 7.42%, resulting in a projected market volume of US$422.10m by 2027. The market's largest segment is Sponsorship & Advertising with a market volume of US$180.80m in 2023.

What is the future of esports business?

Esports industry insights

The global esports audience will grow to 474 million people in 2021, a year-on-year growth of +8.7%. Esports enthusiasts will make up 234 million of this number, growing +8.7% year on year.

What is the biggest gaming industry?

As of 2022, it is estimated that the United States ranks first among the biggest gaming markets worldwide, with a revenue of 54.9 billion U.S. dollars. The video gaming market in China ranked second, generating an approximate 44 billion U.S. dollars in annual revenues.

Which country is No 1 in eSports?

The United States was the leading eSports country worldwide according to the number of active eSports competition players in 2022. The U.S. led the list with more than 3.7 thousand active competition players, followed by China and Brazil with 1.7 thousand and 1.38 thousand professional eSports players respectively.

What is eSports target market age?

More than six in every ten internet users watching esports are aged between 16 and 35 years old. The average age of traditional sports fan is about 50 – it's 26 for esports.

Why is eSports becoming so popular?

It's more social than regular sports

Simply put, eSports is actually way more social than any other sport out there. While it is true that all of the “real” sports do offer great opportunities for socializing, eSports simply takes things to a whole new level.

Is esports a stable career?

Cut to today, things have changed for the better drastically, and today in India, a career in esports is considered to be one of the most lucrative, fun, and potent career pathways.

Is esports the next big thing?

The esports industry is headed for growth

No matter what your play is, this market is certainly one to watch, with revenue expected to grow by a compound annual growth rate of 21.3 percent to reach US$3.57 billion in 2027.

What is world's future of gaming?

Gaming is now a bigger industry than movies and sports combined. Revenue for gaming reached $184 billion in 2022, and the number of gamers is expected to grow to 3.6 billion by 2025. It's not just kids either: 38 percent of gamers are between the ages of 18 and 34 years, and 16 percent are older than 55.