According to a recent study done by an ESOMAR-certified market research and consulting firm, the eSports & Games Streaming Market is expected to reach US$ 7.2 billion by 2032, up from US$ 2.3 billion in 2022, expanding at a high CAGR of 11.9%. This study explains that the factors such as growing viewership and increasing popularity are expected to accelerate the market growth during the forecast period.
The major factors that are expected to accelerate the growth of the eSports & Games streaming market during the forecast period include Growing popularity of video games, growing awareness of eSports among children, large scale investments and adoption of advanced gaming technologies with growing number of gamers.
Furthermore, growing number of events with large prize pools, increasing investments in more micro transactions in video games and franchise style leagues are some major factors that are expected to create lucrative opportunities for the market in the forthcoming years.
Moreover, mobile game streaming is a recent phenomenon that is expected to flourish in the market exponentially. As per Streamlabs, there were approximately 479 thousand active mobile streamers on Streamlabs in June 2019, which was an increase from 150 thousand active mobile streamers in June 2018 globally. Therefore, factors such as increasing penetration of smartphones and rising mobile streamers, are expected to augment the market growth in the forthcoming years.
Future Market Insights Report: China to dominate the eSports & Games Streaming market with a CAGR of 11.2%
Key Takeaways from the Market Study
- Global eSports & Games Streaming Market was valued at US$ 2.3 Bn by 2022-end
- China to account for the highest value share of US$ 319.1 Mn of global market demand for eSports & Games Streaming Market in 2032
- From 2015 to 2021, eSports & Games Streaming demand expanded at a CAGR of 16.4%
- By Solution, App based constitutes the bulk of eSports & Games Streaming with a CAGR of 11.7%.
“Factors such as increasing penetration of smartphones and rising mobile streamers are anticipated to propel the market growth during the forecast period,” remarks a Senior Research Analyst.
Players in the global eSports & Games Streaming Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:
- In October 2021, FaZe Clan Inc. entered into a definitive merger agreement (the “Merger Agreement”) to combine with B. Riley Principal 150 Merger Corp. (“BRPM”), a special purpose acquisition company sponsored by an affiliate of B. Riley Financial, Inc. (RILY) (“B. Riley Financial”). Through the proposed business combination, FaZe Clan is positioned to become one of the only digitally native, youth-focused lifestyle and media platforms publicly traded on a U.S. national exchange.
- In May 2021, LaLiga, Spain’s premier football association, and Microsoft Corp. announced an expansion of their partnership focused on digitally transforming the sports experience globally. The companies also collaborated on developing technology solutions to the media and entertainment industry through LaLiga’s technology offering, LaLiga Tech.
- In May 2021, Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company, and the National Hockey League (NHL) debuted two new advanced analytics during the 2021 Stanley Cup Playoffs. The new stats, powered by AWS, use cloud technologies such as analytics, serverless compute, and media services to gather data from the ice in real time, analyze it, and visualize it for fans as graphics appearing on the broadcast.
These insights are based on a report on E-Sports and Games Streaming Market by Future Market Insights