What is the growth of esports and gaming?

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.

What is the growth of esports?

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.

What is the growth and future of esports?

The esports market is estimated to grow at a CAGR of 21.81% between 2022 and 2027. The size of the market is expected to increase by $3,515.1 million. This growth for esports is largely dependent on several factors, including branding through esports, an increasing amount of events and new platform launches.

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.

How has esports changed the gaming industry?

Increased Viewership and Engagement

A rise in viewership and engagement is esports' most notable effect on the sports business. Younger sports fans are becoming increasingly interested in esports due to its fast-paced action and entertainment appeal.

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

How is the growth of gaming industry?

Key Reasons for Growth

For example, one major console manufacturer is expected to sell around 18 million units by March 2023, bringing the installed base of gaming consoles to a total of about 37 million units sold since 2020. The increase in next-gen gaming consoles in turn feeds triple-A game development.

When did esports gain popularity?

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.

Why is the video game industry growing so fast?

Technical innovations, expanding market demographics, and an increase in video game-related merchandise have all contributed to the video game industry's new scope.

Is gaming 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.

How has esports impacted the economy?

Last year the global esports market was valued at just over $1.4 billion, and it's forecast to grow to as much as $1.9 billion in 2025. In 2021, the largest share of esports market revenue came from sponsorships and advertising. In total, global esports revenue from sponsorships and advertising reached $641 million.

What are 3 benefits of esports?

Why did esports become popular?

A great source of entertainment. Arguably the most obvious reason why eSports is so popular nowadays is the fact that it's extremely entertaining for everyone involved. No matter if you're just a spectator or an active participant, chances are you won't experience a dull moment.

What is the expected growth of gaming?

Revenue in the Video Games segment is projected to reach US$372.00bn in 2023.

How esports is the future?

Esports is the fastest-growing theme in the gaming sector and is predicted by GlobalData market forecasts to generate an astounding $1.8 billion by 2025.

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.

Is the gaming market growing?

The global gaming market size was USD 203.12 billion in 2020 and is projected to grow from USD 229.16 billion in 2021 to USD 545.98 billion in 2028 at a CAGR of 13.20% during the 2021-2028 period.

Why gaming is the future?

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 competitive gaming growing?

Paid competitive gaming (PCG) has been identified as the fastest growing segment of the gaming sector, growing six times faster than the market as a whole, according to a new report by Newzoo and Mobile Premier League.

Why is gaming more popular?

The 2022 Essential Facts about the Video Game Industry report isn't just about who plays games, but why people play. The popular reasons are that video games bring joy (93%), provide mental stimulation (91%) and stress relief (89%). “One area we were heartened to see is in the area of mental health,” Pierre-Louis says.

How big is esports growing?

KEY MARKET INSIGHTS

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.

What esports audience is biggest?

PGL Major Antwerp 2022 was the most popular CS:GO tournament in 2022 — the Belgian Major's Grand Final between Natus Vincere and FaZe Clan was watched by 2.1 million Peak Viewers. This has become the second highest number in the history of the discipline behind PGL Major Stockholm 2021 (2.7 million PV).

What eSport is most popular in the world?

Popular esports games in 2022 by viewership

From November 2016 to today the Top 5 Esports Games are headed by Counter-Strike: Global Offensive. There are 5 651 active teams playing.

What's the hype about esports?

The respondents consider esports as a good way to pass time and to be entertained. They gain social satisfaction when interacting with likeminded people. In games, they are able to document and show their progress, and to present and share information about themselves in relation to esports.