4.3. Esports Market

Esports, while part of the broader gaming industry, stands out as a distinct sector due to its inherently competitive nature. Distinguished from casual solo or team-based video games, esports has experienced a dynamic evolution in recent years. The COVID-19 pandemic initially catalyzed unprecedented growth and mainstream attention for the sector, leading to a surge in online tournaments and viewership.

Post-pandemic, the esports landscape has undergone a significant transformation. While major events continue to draw substantial audiences and investment, the industry is experiencing a strategic realignment. This shift has led to a consolidation of resources around premier tournaments and leagues, reflecting a maturation of the market. Simultaneously, this presents new opportunities for innovation in grassroots engagement and community-driven initiatives, potentially paving the way for more sustainable and diverse esports ecosystems in the future.

According to the "2023 Esports in Asia and MENA" Report (May 2023) by Niko Partners (5), a game-market analytics firm focusing on MENA and Asia, the global esports market generated $1.3 billion in revenue. Asia and MENA regions claimed the lion's share, accounting for 56% of this revenue. Comparatively, Newzoo's 2024 Global Games Market Report (1) predicts the global esports market to generate $1.8 billion in revenue for 2024, showing continued growth in the sector.

Statista's projections for the esports market align with these figures, forecasting revenue to reach $1.98 billion in 2024. The market is expected to expand to approximately $2.84 billion by 2028, with a compound annual growth rate (CAGR) of 9.42%. These projections underscore the consistent growth trajectory of the esports sector.

Recent market analyses continue to project strong growth for the esports sector. Various industry reports forecast steady increases in esports revenue and audience size over the next few years, with consistent annual growth rates.

Updated figures from Statista (6) estimate that the global esports audience reached approximately 614.6 million in 2024, with projections suggesting it could surpass 725.7 million by 2028.

Despite its rapid expansion, market research indicates that the esports sector is still in a growth phase, with substantial potential for further revenue generation and market penetration in the coming years.

While the esports market represents a smaller portion of Gameness's total target markets, it continues to be a significant driving force in the broader gaming industry. The sector's influence extends beyond direct revenue, potentially impacting user acquisition strategies and marketing costs across the gaming ecosystem.