This report will provide a macro perspective on the status and trends of the Esports industry in 2024.
eSports is a form of competitive gaming where individuals or teams compete in video game tournaments.
It is evolving beyond being just an extension of gaming, establishing itself as an independent industry through the continuous development and refinement of competitive leagues.
This report will provide a macro perspective on the status and trends of the Esports industry in 2024.
In 2024, the estimated global eSports audience is projected to be 611 million, consisting of 302 million core viewer and 308 million occasional viewers.
Unitil 2025, this figure is expected to achieve an annual growth rate of about 5%, reaching 641.1 million.
The North American esports market remains a significant contributor to the global esports industry, characterized by a robust infrastructure, high internet penetration, and a large audience base.
This region continues to lead in terms of revenue generation and competitive gaming, with the United States and Canada at the forefront.
Popular esports titles such as League of Legends, Fortnite, and Call of Duty draw massive viewership, underpinning the region's strong market presence.
In 2024, the U.S. eSports market is experiencing significant growth, with projected revenues reaching approximately $1.07 billion. This dynamic market holds a leading position in the global eSports industry, particularly in revenue generation.
Over the next few years, the U.S. eSports market is expected to expand at a compound annual growth rate (CAGR) of 15.4%. From 2024 to 2029, the market size is anticipated to reach $1.595 billion. A key driver of this growth is the eSports betting segment, which is projected to generate a market size of $721.2 million in 2024.
Additionally, the user base of the U.S. eSports market is also expanding significantly. By 2029, the number of users is expected to reach 72.5 million, with user penetration increasing from 15.4% in 2024 to 20.7% in 2029. The average revenue per user (ARPU) is projected to be $20.32, reflecting the market's strong potential for revenue generation.
The growing popularity of the U.S. eSports market is evident in the increasing number of professional teams and the expansion of a dedicated fan base. This surge in interest not only drives market expansion but also deepens consumer engagement, positioning the U.S. as a key player in the global eSports industry.
As the market continues to evolve, the U.S. is poised to maintain its leadership through innovation, investment, and a passionate community of players and fans. This promising outlook lays a solid foundation for the future of the U.S. eSports market.
The Canadian esports market is expected to generate revenues of approximately US$138.9 million in 2024, while the esports betting segment stands out as the largest, with an anticipated market volume of US$108.3 million.
The Canadian esports market is projected to grow at a compound annual growth rate (CAGR) of 5.92% from 2024 to 2029, reaching a market volume of US$185.2 million by 2029.
While the United States leads globally with a projected market volume of US$1,070 million in 2024, Canada is establishing its niche with a rapidly expanding user base.
By 2029, the number of esports users in Canada is expected to reach 15.2 million, with user penetration increasing from 32.3% in 2024 to 37.4% by 2029. The average revenue per user (ARPU) is estimated at US$10.98, indicating strong potential for revenue generation.
The Canadian esports market is experiencing rapid growth, driven by increased investments in infrastructure and a rising number of professional teams.
This expansion is part of a broader global trend observed in regions such as China, the United States, Asia, Germany, and France.
As the market continues to evolve, Canada is well-positioned to enhance its role in the global esports industry.
Supported by strategic investments and a passionate community of players and fans, Canada's growth trajectory positions it as a significant player in the international esports landscape.
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In 2024, the European esports market is experiencing robust growth, with projected revenues reaching approximately US$1,440 million.
This positions Europe as a significant player in the global esports arena. The market's expansion is fueled by a diverse range of revenue streams, including sponsorships, media rights, and particularly esports betting, which commands the largest market share with a volume of US$923.5 million.
The European esports ecosystem is characterized by a dynamic landscape of professional teams, leagues, and tournaments.
Countries like Germany and Poland are at the forefront, benefiting from strong governmental support and a burgeoning number of professional teams.
This environment fosters innovation and competitiveness, attracting both regional and international investment.
With a growing fanbase, Europe is seeing increased user engagement, as evidenced by the rising number of esports participants and enthusiasts.
The market is set to continue its upward trajectory, driven by technological advancements, enhanced infrastructure, and strategic partnerships within the industry.
Overall, the European esports market in 2024 is poised for sustained growth and influence on the global stage.
East Asia, particularly South Korea and China, is a powerhouse in the global esports market.
South Korea is known as its highly developed ecosystem that includes dedicated esports arenas, professional leagues, and a strong fan culture.
(Data Source: Statista)
The esports market is projected to generate revenue of US$297.2 million in 2024. With a strong annual growth rate (CAGR) of 6.68% from 2024 to 2029, the market is expected to reach US$410.6 million by 2029.
Within South Korean market, Esports Betting is also anticipated to be the largest segment, with a projected market volume of US$151.7 million in 2024. This segment's prominence underscores the diverse monetization avenues within the esports industry.
By 2029, the number of esports market users in South Korea is expected to reach 12.2 million. The user penetration rate is predicted to increase from 19.7% in 2024 to 23.8% by 2029, reflecting growing engagement and interest in esports.
Furthermore, the average revenue per user (ARPU) is anticipated to be US$29.19, highlighting the market's monetization potential.
In 2024, the LCK (League of Legends Champions Korea) Spring 2024 became the third most-watched professional eSports tournaments globally.
As a regional and seasonal domestic league, achieving such high viewership numbers highlights the popularity of eSports in South Korea and the global influence of Korean eSports.
China, on the other hand, is one of the largest esports markets in the world, driven by a massive player base and investment from tech giants like Tencent and NetEase.
China's esports market is on the cusp of significant expansion, with revenue projected to reach an impressive US$497.6 million by 2024.
This growth trajectory is expected to continue steadily, with a compound annual growth rate (CAGR) of 4.61% from 2024 to 2029, ultimately resulting in a market volume of US$623.5 million by 2029.
(Data Source: Statista)
A key driver of this growth is the Sponsorship & Advertising segment, which stands out as the largest market component, anticipated to achieve a substantial volume of US$288.9 million in 2024.
In addition to revenue growth, the Chinese esports market is set to see a significant increase in user numbers, projected to reach 245.6 million by 2029.
This rise is reflected in user penetration rates, which are expected to climb from 14.5% in 2024 to 17.3% by 2029, indicating a deeper engagement with esports among the population.
Moreover, the average revenue per user (ARPU) is forecasted to be US$2.40, underscoring the market's monetization potential.
Overall, China's esports market is booming, fueled by a massive fan base, substantial investments, and a strong professional league system.
The esports market in Southeast Asia is projected to reach $79.7 million in revenue by 2024, with esports betting expected to dominate the market share.
This growth is part of a broader trend, with the industry experiencing a compound annual growth rate (CAGR) of 20.8% from 2019 to 2024.
Key markets such as Indonesia, Malaysia, Thailand, Vietnam, and Singapore are driving this expansion, supported by substantial fanbases.
The growth trajectory highlights Southeast Asia's increasing prominence in the global esports landscape, presenting significant opportunities for stakeholders within the industry.
The Middle East are emerging markets for esports, with significant potential for growth.
Saudi Arabia is investing a lot on this market opportunity and intends to rise its international influence by eSports.
It held Esports World Cup in 2024, which is becoming one of the world's largest comprehensive esports events, featuring 22 popular eSports games and attracting competitive teams from all over the world.
Several companies are leading the rapidly growing eSports industry. Below is a summary of the top ten largest eSports companies globally:
Tencent: Based in China, Tencent is a major player in the eSports industry. It owns Riot Games, the creator of the popular game League of Legends, and has stakes in other major companies like Epic Games and Activision Blizzard.
Modern Times Group (MTG): A Swedish digital entertainment company, MTG owns ESL and DreamHack, two of the largest eSports companies in Europe.
Activision Blizzard: The American company behind popular games like Call of Duty and Overwatch, Activision Blizzard has a significant presence in the eSports industry.
Electronic Arts (EA): Known for games like FIFA and Madden NFL, EA has a strong eSports division that organizes tournaments around the world.
Nintendo: A Japanese company famous for franchises like Super Mario and The Legend of Zelda, Nintendo has been increasing its focus on eSports in recent years.
Sony Interactive Entertainment (SIE): Sony, known for the PlayStation brand, is also involved in eSports, mainly through its PlayStation League.
NetEase: Another major Chinese company, NetEase collaborates with Blizzard to publish several popular games in China and runs its own eSports tournaments.
Take-Two Interactive: The American company behind the NBA 2K series, Take-Two Interactive has a strong presence in eSports, particularly with its NBA 2K League.
Gfinity: Based in the UK, Gfinity organizes and hosts eSports events for games like Rocket League, Street Fighter, and Fortnite.
FACEIT: A UK-based company, FACEIT is a leading platform for online multiplayer PvP gamers, hosting millions of game sessions monthly.
These companies represent the forefront of the eSports industry, each contributing to the sector's growth and development in unique ways. As the industry continues to expand, their influence and impact are likely to increase.
League of Legends
Valorant
Counter-Strike 2
Dota 2
Brawl Stars
In July 2024, the International Olympic Committee (IOC) has announced the launch of the Olympic Esports Games, with the first edition scheduled for 2025 in Saudi Arabia.
Esports World Cup was announced to return in the summer of 2025, and will be held in Riyadh, the capital of Saudi Arabia.
Some media outlets speculate that Valorant may join the EWC in 2025. However, this information has not yet been officially confirmed by Riot Games.
As the 33rd SEA Games, 2025 Southeast Asian Games scheduled to be held from 9 to 20 December 2025 in Thailand.
eSports is now a sports program that officially admitted by SEA Games.
The global esports market in 2024 demonstrates its potential as an independent and rapidly growing industry.
Esports has evolved beyond merely an extension of gaming, establishing its significant role in global entertainment and sports through mature competitive leagues, substantial investments, and an expanding global audience.
Markets worldwide are experiencing significant growth, driven by technological advancements, extensive audience engagement, and investments from traditional sports and corporate sectors.
Key esports companies like Tencent, Activision Blizzard, and Electronic Arts play crucial roles in the industry's expansion, while popular games such as "League of Legends" and "Valorant" continue to dominate the market.
In the coming years, with events like the Olympic Esports Week and other major tournaments, esports will further integrate into mainstream culture, attracting a broader audience and creating more business opportunities.
Overall, the esports industry in 2024 is vibrant and innovative, indicating sustained growth and influence on a global scale.
>>> Global eSports Market Report (2023)
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