The eSports market involves electronic sports which comprises of video game tournaments. It involves multi-player video games played competitively for spectators. Some of the popular genres of eSports include first-person shooter games, multiplayer online battle arena games, real-time strategy games and fighting games. With the increasing popularity and spectatorship, tournaments are offering large prize money to winners. For instance, the International tournament winner received $18.2 million in 2021. The involvement of sponsors and investors have increased the prize money substantially over the years thereby attracting more participants to the eSports industry.

The Global eSports Market is estimated to be valued at US$ 2123.48 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 To 2031.

Key Takeaways
Key players operating in the eSports market are Saipem, Subsea 7 S.A., McDermott International, and TechnipFMC plc. These players are focusing on partnerships and collaborations to enhance their offerings in the market. For instance, in 2022, Subsea 7 partnered with Anthropic to develop autonomous underwater vehicles for inspection activities.
The demand for eSports is growing significantly with the increasing popularity of video games and spectatorship of gaming tournaments. Many traditional sports organizations are also entering into partnerships with eSports leagues to leverage the fan engagement opportunities.

Technological advancements such as virtual and augmented reality solutions are being explored by market players to improve the experience of spectators. Startups are working on applications of VR and AR to provide an immersive viewing experience of Esports Market Demand.

Market Trends
Growing sponsorship revenue - With increasing fan engagement, eSports leagues and tournaments are attracting large sponsorships from consumer brands. It is emerging as an important avenue of marketing spends.
League expansion plans - Major eSports leagues are exploring opportunities to expand into new geographies and countries. Regional leagues are being planned with local broadcast partnerships and content in local languages.

Get more insights on eSports market