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Esports Market Surpass $ 7131.8 Mn by 2028 Says Acumen Research and Consulting Experts

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Global Esports Market size is estimated to grow a CAGR above 25.1% over the forecast timeframe and reach a market value of around USD 7131.8 Mn by 2028.

Esports is a burgeoning global industry in which skilled video gamers compete. Globally, time spent on mobile devices has officially surpassed time spent on television, with users spending eight minutes more per day on their mobile devices. By 2021, this figure had risen to more than 30 minutes. Over 380 million people watch esports worldwide both online and in person.

Covid-19 impact on Esports Market

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Despite widespread economic disruption caused by the coronavirus, the global video game industry is thriving. The coronavirus is not immune to gaming. Esports, with its reliance on live events, was one of the first sectors to be affected. The majority of esports events have been cancelled or postponed, though some are still taking place without spectators. However, today the industry is performing outstanding driven by increasing number of global tournaments, growth in number of regional events, etc.

Global Esports Market Dynamics

The growing youth population and changing lifestyles have both contributed to an increase in demand for video games and online video games over the years. Growing audience reach and engagement activities, significant investments, rising live streaming of games, and expanding infrastructure for league tournaments are key factors driving the market growth. Global online platforms such as Facebook, YouTube, and Twitch, which allow streamers to gain popularity and impressive earnings, have contributed to the esports market share’s increased growth. Increased smartphone penetration and improved internet connectivity have resulted in a rapid increase in the number of gamers.

However, certain constraints and challenges are likely to impede the overall growth of the Esports Market. The fraudulent betting that is leading to game piracy poses a threat to the market. Additionally, the market’s growth has been hampered by a lack of tournament infrastructure and a small number of organizations. The video game industry is rapidly evolving from a casual hobby to a professional career opportunity, which is also a global esports market trend. Moreover, large-scale esports investments are expected to fuel the esports industry’s growth. Furthermore, the increasing adoption of advanced gaming technologies increased smartphone penetration, and improved internet connectivity has increased the number of gamers, positively influencing the market growth.

Sponsorship accumulated for the impressive shares in the global esports market scenario

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In 2020, the sponsorship segment acquired the largest shares. The well-known gaming/tech esports sponsors are increasing their involvement as the industry intensifies. Sponsorships are important in the esports industry because an increasing number of companies are investing in them. Furthermore, with rising player wages and an expanding esports market, the introduction of new sponsors is critical for esports’ long-term commercial success. To increase their brand value gaming as well as non-gaming sectors are also investing in the esports industry.

On the other hand, the media rights segment is anticipated to witness the fastest CAGR throughout the forecast period 2021 – 2028. Media companies pay exorbitant fees to win the exclusive right to broadcast the live streaming of major sporting events. Esports is made up of thousands of individual leagues, and events, and the media rights deal, thus the media rights segment is likely to register the fastest growth in the esports industry.

Esports Regional Stance

The global classification of the esports market includes North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Among all the regions, North America conquered the global market with the largest shares in 2020. The growing number of investments and technological expansions are the key aspects that continue with the franchising North America League of Legends Championship Series (NA LCS) and Overwatch League are fueling the North American esports market. However, the Asia-Pacific esports industry is expected to dominate the market in the coming years. Due to the COVID-19 outbreak, Asian gaming behemoths such as Nintendo and Tencent saw increased sales in the first quarter of 2020. This trend is expected to continue, as an increasing number of gaming companies collaborate with sports organizations to provide virtual tournaments to sports fans. Furthermore, Asia-Pacific is also expected to register significant growth.

Major Players

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The esports market is consolidated with a large number of players. The prominent players presented in the report include Activision Blizzard, Inc., Valve Corporation, Tencent Holding Limited, Modern Times Group, Faceit, Electronic Arts Inc., Gameloft SE, Nintendo of America Inc., NVIDIA Corporation, Wargaming Public, and others.

For instance, on September 29, 2021 – Electronic Arts Inc. and FIFA have announced the launch of a new EA SPORTS FIFA 22 esports program that is expected to attract millions of players and viewers. In 1v1 and 2v2 competitions, players will characterize themselves, globally recognized e-sports organizations, real-world football clubs, and their country in a series of FIFA esports events.

Moreover, in November 2017 – Electronic Arts and FIFA collaborated to launch an esports tournament series for the Electronics Arts FIFA video game franchise.

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GIANTX unveils its team for the Spanish Superliga of League of Legends

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The global esports organization GIANTX has officially presented the roster for its League of Legends Superliga team, the most prestigious esports competition in Spain, organized by the LVP. The roster includes Feisty (midlaner) and Aetinoth (ADC), who continue for another year after establishing themselves as key players for the organization, and newcomers Badlulu (toplaner), Ferret (jungler), and Lospa (support).

The team, known as GIANTX Pride, will be led by Fearless, a veteran coach who has already won three Superliga titles with GIANTX. After previous stints with teams like Guasones and Rebels, Fearless returns to lead this young and promising roster as they pursue the organization’s long-awaited eighth Superliga trophy, with the season set to begin in January 2025.

The roster was revealed during an event at the Home of GIANTX in Málaga, attended by over 150 fans and supported by Opel, the team’s main partner in the Superliga. The event featured activities, giveaways, and a showmatch against Barça Esports, where fans got a first glimpse of the team in action.

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Feisty (South Korea, 2003) and Aetinoth (Turkey, 2005) return for another year, having gained recognition as rising talents with potential for the LEC, Europe’s premier competition in which GIANTX also competes. Badlulu (France, 2002), with prior experience in the Superliga at CASE Esports, joins as the toplaner. Ferret (Turkey, 2001), a promising jungler from the Turkish scene, comes from FUT, while Lospa (South Korea, 2002), a former Iberian Cup champion, joins as support after training in Gen.G Academy.

GIANTX Pride is the most decorated organization in Superliga LVP history, with seven titles to its name. The last victory came in the summer of 2021, and the team is determined to add the elusive eighth trophy to its collection. The Superliga for 2025 will feature ten teams, including Barça Esports, Guasones, Los Heretics, LUA Gaming, Movistar KOI, Ramboot Club, UCAM Esports, VENI VIDI VICI, and ZETA, competing across three splits—winter, spring, and summer.

The LVP, part of Grupo Mediapro, has introduced changes to the Superliga’s format for 2025. The updated calendar will be released soon, setting the stage for another thrilling season.

The post GIANTX unveils its team for the Spanish Superliga of League of Legends appeared first on European Gaming Industry News.

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GRID Joins IBIA as an Associate Member, Strengthening Esports Integrity

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GRID, an esports data platform, has officially joined the International Betting Integrity Association (IBIA) as a first esports-focused Associate Member. This collaboration signifies a pivotal moment for esports integrity, aligning GRID with IBIA and its globally recognized integrity-focused members, who monitor over $300bn in sports bets per annum and have a growing focus on esports betting.

With this partnership, GRID and IBIA are committed to collaboratively addressing any integrity issues in esports, fostering trust across stakeholders, and setting a benchmark for excellence in the ecosystem. GRID has been a certified member of IBIA’s Data Standards program since 2022, actively contributing to the development of tailored esports integrity protocols. This membership further underscores GRID’s dedication to transparency and collaboration in combating betting-related corruption within esports.

Since 2018, GRID has operated an internal integrity department pioneering official data-driven solutions for esports. This makes GRID one of the first companies to monitor tournament and data integrity in the competitive sports sector and actively flag and report suspicious behavior, enabling it to collect a large database of integrity reports and insights.

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IBIA is a not-for-profit body that protects regulated sports betting markets from match-fixing. It represents over 50 of the world’s leading betting companies which operate over 125 sports betting brands. IBIA’s global monitoring network is a highly effective anti-corruption tool, detecting and reporting suspicious activity in regulated betting markets using transactional activity linked to individual customer accounts.

Under the partnership, GRID and IBIA will share information relating to suspicious esports betting and potential match manipulation from their respective monitoring and intelligence platforms. IBIA members will also benefit from free access to wider integrity-focused resources supplied by GRID.

Moritz Maurer, CEO of GRID, commented: “Integrity is at the heart of GRID’s mission. By joining IBIA as an Associate Member, we are taking a definitive step toward establishing esports as a trusted and credible industry. This partnership enables us to further our efforts in promoting transparency, reducing risks associated with esports betting, and strengthening operational practices across the ecosystem.’’

Khalid Ali, CEO of IBIA, said: “We are delighted to welcome GRID as an Associate Member of IBIA. This partnership is a landmark for the esports sector and reflects our commitment to expanding our integrity initiatives into new markets. GRID’s expertise in esports data monitoring and integrity standards is an invaluable asset in our shared mission to combat betting corruption globally.”

 

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ComeOn Group and Astralis unite to drive esports engagement in the Nordics

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ComeOn Group announced a sponsorship partnership between its flagship brand ComeOn! and Denmark based Astralis, one of the most esteemed esports organisations globally. As a global leader in esports, Astralis is providing a vibrant and engaging esports experience that is aligned with ComeOn!’s brand experience and is further enhanced by its focus in providing a leading esports betting destination.

As the official sponsor of Astralis, ComeOn! will be prominently featured across all of their platforms, including social media, team events, and competitive gaming content, boosting their brand exposure in key global markets with a focus on the Nordics. ComeOn! is already known as a vibrant brand in the Nordics and with the increased brand visibility it will be put at the heart of the fast-growing esports scene.

ComeOn Group continues to invest in its Sportsbook product experience that is powered by its proprietary sportsbook platform, where esports holds an important strategic market opportunity with its ever growing demand.

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Juergen Reutter, Chief Executive Officer at ComeOn Group, said: “We are very excited to team up with Astralis as this collaboration not only allows us to showcase our innovative Sportsbook platform but also strengthens our ties to the esports community. This partnership is very much in the heart of one of the fastest growing betting markets globally. Esports has seen great demand by our audiences, and we want to provide the best betting experience for our customers. This partnership is also a testament to our localisation and personalisation focus and by working together with Astralis, we can deliver unique experiences that resonate with our players and elevate the entertainment experience around competitive gaming.”

Mads Rasmussen, Commercial Director at Astralis, said: ”We are proud to present ComeOn Group as our new global partner. This partnership holds great significance for Astralis both as an organization and as a business, and we look forward to bringing the agreement to life, benefiting the vast majority of our fanbase – who are adults. We have undergone a long and very positive process with ComeOn, and the fact that they are European-based with licenses in all our key markets, including Denmark, has been a decisive factor in our decision. Astralis fans, both in Denmark and internationally, can look forward to an innovative new digital activation, which promises to deliver an exciting and engaging experience.”

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