An interesting report by leading market research and consulting firm Cognitive Market Research has reviewed the recent growth in the esports sector, along with device usage stats, regional engagement, the development of cloud gaming services and even mainstream brand engagement with the gaming sector to extrapolate its potential over the next seven years.

Join us as we delve into this in-depth report to highlight some of the critical factors that could see competitive gaming and the esports betting sector triple in size in less than a decade!

What is the Current Esports Benchmark?

According to the study, the global esports sector is worth approximately $1.4 billion, which means that in order to reach the projected $4.47 billion valuation, it needs to grow by 17.8% year on year from 2023 to 2030.

The company presented the following 2022 baseline stats:

• 71.3 % - Live Streaming Type Segment Share
• 69.4 % - Platform Segment Share
• 41.2 % - Smartphone Device Type Segment Share
• 37.5 % - Sponsorship Revenue Stream Segment Share
• 31.9 % - Asia Pacific eSports Market Share

The significant finding of the market as it currently stands was reported as follows:

1. Interest in esports was bolstered by the adoption of smart devices, increased internet penetration, and the period of time people spent at home during the global lockdown.
2. From a fan-base perspective, gaming and esports-related live streams boosted the overall interest and participation in the sector.
3. The mobile gaming segment dominates the competitive esports landscape.
4. Direct brand sponsorships are the primary revenue source for esports organisations.
5. The Asia Pacific market is the most substantial esports region at 31,94% of the overall competitive market.

According to a global report by Market Growth Reports, the esports betting sector is expected to grow by an estimated 10.6% annually. With both segments forecast to show incredible growth over the next seven years, they are set to become marketing leaders in their respective fields.

 An Overview of 2030 Revenue Projections

While it is impressive to imagine the esports sector reaching a $4.47 billion valuation by 2030, there are several adjacent sectors that will be growing alongside it. The report provided several insightful projections by delving into these other markets:

• Global online gambling market to reach $205.23 billion by 2030.
• Global sports betting market to reach $180.14 billion by 2030.
• Global esports software market to hit $4.57 billion by 2030.
• Global daily fantasy games market is projected to reach $16.21 billion by 2030.

Overall, the annual revenue figures for these various market segments all show a year-on-year increase that ranges from 9.2% up to 19.7%.

 Who Are the Biggest Regional Contributors?

Interestingly it is not North America which rules the roost in terms of driving the advancements of esports. The Market Growth Reports study highlighted the importance of the Asia Pacific region, which currently accounts for nearly 32% of the global participants and audience for esports events.

The top three esports markets are:

1. Asia Pacific (APAC)
2. North America
3. Europe

It was interesting to note that these are also three regions with some of the world's highest internet penetration and mobile device usage.

Online gambling is also gaining ground, specifically in North America and Europe, which will see these teams pick up increased investment and gain a wider audience as fans are able to stake their preferred teams and share in the highs and lows of wins and losses during esports competitions.

 Prominent Video Game developers in the Esports Sector

Much like with online casinos, the esports sector's success requires investment and game developers' support. While we are yet to see casino game developers launch esports titles, here are the biggest names in gaming who provide competitive titles:

• Nintendo
• Activision Blizzard, Inc.
• NVIDIA Corporation
• Electronic Arts
• Intel Corporation
• Tencent Holding Limited
• Valve Corporation

The Savvy Gaming Group get an honourable mention in this section as a future big player. The company agreed to purchase the ESL Gaming division of the Modern Times Group for a staggering $1.05 billion.

 Leading Esports Betting Software and Platform Providers

MarketWatch reviewed some of the biggest iGaming names in esports growth and development. Here are five of the most recognisable developers on this list:

1. 888 Holdings
2. Betway
3. Bet365
4. Kindred Group
5. Entain PLC

These gambling software and betting platform providers are also often at the forefront of promoting licensing and regulation, which is excellent for the legitimacy and widespread adoption of esports-related gambling.

These companies are also market leaders in online casinos and live dealers. Please visit our online casino and casino software pages, where we cover the available gambling sites, bonuses and casino games.