Juniper Research has published a new report which states that the global esports and games streaming market will be worth $3.5 billion by 2025. Currently, the number stands at $2.1 billion. In 4 years, it is predicted to grow by 70%.
The esports industry has witnessed a surge in the audience in the last couple of years thanks to live streaming of popular multiplayer games like CS:GO, DOTA2, and Valorant on platforms like Twitch and YouTube. Casual gameplay, as well as professional esports tournaments, have increased engagement and kept fans glued to their screens.
Market value will be driven by #subscription spend to streaming platforms and advertising spend over streams.
— Juniper Research (@juniperresearch) March 8, 2021
Fuelling the growth of esports
Today, thousands of people tune in to watch their favourite streamer play or to support their favourite team in an esports match. As of 2021, esports and games streaming feature over half-a-billion viewers and according to Juniper Research’s report, that number is estimated to cross 1 billion by 2025. The report states that the Asia Pacific region will contribute to 50% of these viewers.
It’s not just PC games that are contributing to the growth of the esports industry. There has been significant growth in the mobile gaming industry as well. Popular mobile games like Call of Duty: Mobile, PUBG Mobile, League of Legends: Wild Rift and Free Fire boast a large player base globally and also feature tournaments with prize pools in millions. We can already see other industries stepping into esports either as content partners or sponsors.
Streaming platforms play a massive role in the growth of the esports industry. Saidat Giwa-Osagie, co-author of the report said ‘Successful streaming platforms will be those that can cater for the differences in geographical regions, by including locally popular streamers and games titles into eSports events.’