Esports Market 2024-2028: Size and Growing cost of game development; growth driven by the Revenue Stream, Some of key Companies Positioned Strategically

The esports market size by Revenue Stream (Sponsorships, Media rights, Publisher fees, Advertising, and Merchandise and ticket sales), Genre (MOBA, FPS, RTS, and Others), and Geography (APAC, Europe, North America, South America, and Middle East and Africa), is forecast to increase by USD 3467.22 million. The market is expected to grow at a CAGR of   20.5% between 2024 and 2028.

• The escalating consumer expectations for enhanced in-game content quality and innovation have significantly increased game development costs. In 2021, game budgets surpassed USD750 million, a marked increase from the USD50 million spent on developing Call of Duty: Modern Warfare 2 in 2009. Factors contributing to these rising costs include the use of advanced software like SpeedTree for realistic tree creation and the demand for detailed, customized graphics in large-scale games. For instance, Cyberpunk 2077, launched in 2020, required an investment of approximately USD174 million for its development.
• The esports market in the Asia Pacific (APAC) region is projected to experience robust growth, surpassing other regions, during the forecast period. This notable expansion can be primarily attributed to the increasing penetration of global brands and products, the escalating adoption of online gaming, the burgeoning knowledge and recognition of esports among millennials, and the advancement of the gaming industry in APAC. Key contributing nations include China, Japan, South Korea, and India. China, in particular, is the most significant market in APAC due to the expanding disposable income of its population, enabling them to purchase advanced gaming consoles, and the substantial spending by Chinese consumers on gaming equipment.

Access the full report to know who are the other key countries segment-wise forecast and historic data

Some of the Key Companies:

• Activision Blizzard Inc.
• Amazon.com Inc.
• ANT Esports
• Beyond the Summit
• Caffeine
• Electronic Arts Inc.
• Gfinity Plc
• Hi-Rez Studios Inc.
• Intergalactic Gaming Ltd.
• Kabam Games Inc.
• Modern Times Group MTG AB
• Nintendo Co. Ltd.
• Riot Games Inc.
• Rovio Entertainment Corp.
• Starladder Ltd.
• Take Two Interactive Software Inc.
• TaKeTV GmbH
• Tencent Holdings Ltd.
• Valve Corp.
• Wargaming Group Ltd.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/