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

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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

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

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

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.

eSports

BEA to Open an Esports Performance and Education Campus at Riverside Sunderland

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The British Esports Association (BEA) has announced that it will open an esports performance and education campus at Riverside Sunderland, which will nurture and support the next generation of talent, as interest and engagement in esports grows in the UK.

BEA has made a multi-million-pound commitment to the city of Sunderland, having acquired former retail premises adjacent to the Stadium of Light, where it will establish its National Esports Performance Campus (NEPC).

The NEPC will become a centre of excellence, providing access to state-of-the-art equipment, training and investment that will support Sunderland, the North East and the UK to become a globally-recognised esports hub capable of attracting and developing the world’s best esports talent.

The campus will offer educational and coaching courses for players and all other roles within the esports industry and feature dedicated esports classrooms, performance rooms, streaming booths for shoutcaster skills and an arena space. It will also play host to regular esports events, community tournaments, summer camps and be used as a training base for the Great Britain esports team, which recently took part in the Global Esports Games in Singapore.

Chester King, chief executive officer at BEA, said: “The UK is Europe’s second-biggest video game market and ranked 6th globally – this speaks to the potential of esports which will capitalise on gaming’s popularity, with talented competitors emerging and a growing audience keen to spectate and enjoy esports as a leisure activity. This is a market that we know will explode in the UK and we want to support its growth.”

“Sunderland is a hugely ambitious and future-focused city and that aligns very much to BEA and esports, which has vast growth potential and ties into Sunderland’s strengths in gaming, digital and sport. The campus will be an inspirational site, a place for players and coaches to work, learn and develop. This is a much-needed facility and through my team’s experiences we understand its importance.”

Patrick Melia, chief executive of Sunderland City Council, said: “Esports has been a phenomenal global success, and it is a huge growth market in the UK, that will be realised over the coming years. BEA’s move puts Sunderland at the beating heart of that, and we couldn’t be more pleased.”

Councillor Graeme Miller, leader of Sunderland City Council, said: “This is a truly game-changing development for Sunderland, and we could not be more excited about having BEA choose the city for its NEPC.”

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eSports

BLAST Premier Extends its Partnership with CS.MONEY

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Leading esports tournament organiser BLAST Premier has extended its partnership with skin trading platform CS.MONEY, taking the collaboration to four years.

The partnership will be centred around educating and engaging esports and Counter-Strike fans on the wide spectrum of skins available to trade and purchase online.

The deal is the first in a number of commercial deals that BLAST will be renewing for 2022, as the company continues to increase the value of its global partnership portfolio in line with its renewed commercial development and future growth plans.

The partnership will see BLAST and CS.MONEY collaborate on a series of premium, player-led content pieces throughout the year along with owning the broadcast segment “Play of the Day”. CS.MONEY will have access to a number of physical and digital branding assets across BLAST Premier’s seven events in 2022, which typically reaches a global audience of over 150 territories in 18 different languages.

Over the last few years the partnership has become famous for its much-loved CS:GO skin content that features the world’s best players taking part in a number of challenges and games that highlight their knowledge and love for skins.

“Extending the sponsorship into a fourth year is testament to the belief and satisfaction CS.MONEY have shown in this partnership, that we’ve built up from 2019. The result of this hard work is shown by their skin trading platform becoming synonymous with our Counter-Strike tournament and we hope to build on this further in 2022. Four years is a long time in esports and we’re really proud of the content and activations we’ve delivered during this period,” Oliver Clarke, Head of Brand Partnerships for BLAST, said.

“Skins have been for a long time a natural part of Counter-Strike ecosystem along with esports. This is why it is so important for us to support the CS:GO community by allowing them to trade skins safely and comfortably and by supporting events like BLAST Premier as well. We want Counter-Strike fans to have more emotions not only from having a new skin in their favourite game but from watching spectacular games. And I am sure that our partnership with BLAST will play a major role in that,” Artsiom Rabtsau, Chief Marketing Officer at CS.Money, said.

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Yesports Closes $2.25M Round to Launch Esports Metaverse Platform

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Yesports, the world’s first eSports engagement platform, has raised $2.25m during its round of seed funding.

The list of investors includes Polygon Studios, Alphabit, Cosmos, Kernel Ventures, Mozaik Capital and NGC Ventures. The fund raised will be used for the development of its NFT-based esports marketplace and esports-focused metaverse.

Yesports represents the first cross-chain metaverse engagement platform (MEP) designed to enable more than 500 million eSports fans worldwide to engage fully with their favourite teams in custom-built metaverse experiences.

The Yesports platform will provide access to exclusive content, community initiatives, merchandise, and more by acquiring or holding NFTs.

The raise follows an initial grant from the $100m gaming-centred NFT fund Polygon Studios founded in July.

Via the Yesports marketplace, fans can trade eSports NFTs across a range of ecosystems, including Moonbeam, Ethereum, Polygon, Binance Smart Chain (BSC), and other EVM-compatible layer-1 blockchains.

Yesports will also collaborate with teams to provide fans with a private metaverse experience, allowing them to vote using DAO tokens and access clubhouses and private team NFT marketplaces.

CEO and Founder of Yesports, Sebastian Quinn, explained Web3 and the emerging metaverse allow for much greater fan participation, engagement and ownership.

“Yesports is the Web3 upgrade the eSports sector has been waiting for and will serve as a portal for eSports fans to participate in this new paradigm,” he said.

“We can’t wait to get building with teams all over the world.”

Steven Bryson-Haynes, VP of Business Development, NFT & Gaming at Polygon Studios, said: “The team at Yesports are building something extremely valuable to the rapidly developing Web3 landscape”.

“The eSporting sector’s fan base and viewing figures are expanding all the time and Yesports will galvanize this by enabling an outlet for fan engagement,” he added.

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