How much is the Esports industry worth in 2023?

The Esports industry is projected to reach a revenue of US$3.8bn in 2023, showing an annual growth rate of 9.54% from 2023 to 2027, resulting in a projected market volume of US$5.4bn by 2027. The global market revenue of the Esports sector is expected to surpass $1.62 billion in 2024, with Asia and North America representing the major Esports businesses, and China contributing to nearly a quarter of the sector.

Introduction to Esports Industry

The Esports industry has experienced rapid growth in recent years, with increasing popularity and revenue. To provide a comprehensive understanding of the industry, we have compiled a list of frequently asked questions (FAQs) that offer valuable insights into the world of Esports.

FAQs about Esports Industry

Esports Revenue and Growth

1. What is the revenue of Esports in 2024?: The global market revenue of the Esports sector is supposed to surpass $1.62 billion in 2024.
2. How much is the Esports industry worth?: In 2022, the global Esports industry was valued at nearly $1.4 billion US Dollars, and it is forecasted to grow to more than $1.866 billion by 2025.
3. How big is the Esports market in 2023?: Revenue in the Esports market is projected to reach US$3.75bn in 2023, with an annual growth rate of 9.54% from 2023 to 2027.

Esports Viewership and Streaming

4. How many people watch Esports in 2023?: In 2023, 31.6 million people in the US will watch Esports at least once per month.
5. What is the future of Esports viewership?: The number of Esports viewers is expected to continue growing, with 84 million viewers projected in the US, surpassing MLB and NBA viewers.

Esports Industry Comparison

6. Is Esports dying?: No, the Esports industry is growing rapidly, with increasing revenue and viewership.
7. Is Esports bigger than Hollywood?: The video game industry is much bigger than the movie industry in terms of revenue, making more money than the movie and music industry combined.
8. Is Esports bigger than basketball?: The Esports industry is expected to have more viewers than MLB and NBA, but still lags behind the NFL.

Gaming Market and Esports

9. How big is the gaming market in 2023?: Revenue in the Video Games market is projected to reach US$334.00bn in 2023, with an annual growth rate of 8.74% from 2023 to 2027.
10. What will Esports look like in 10 years?: The global Esports market is expected to reach USD 33.38 billion by 2032, growing at a CAGR of 22.47% throughout the projection period.

Esports in the US and India

11. How big is Esports in the USA?: The largest market is Esports Betting with a market volume of US$554.00m in 2023, with most revenue generated in the United States.
12. Does Esports have a future in India?: Yes, Esports is a rapidly growing industry in India, driven by the popularity of mobile gaming and increasing number of tournaments and leagues.

Career and Profitability in Esports

13. Is Esports a good career?: Many individuals are choosing a career in Esports due to its booming industry, exciting work atmosphere, and occupations with transferable skills.
14. Will Esports ever be profitable?: Yes, the growth in Esports has generated interest from investors and could have the potential for significant profits, with an audience of over 530 million in 2022.

Future of Gaming and Esports

15. What is the future of gaming in 2050?: The main influence on video games in 2050 will be virtual reality and game streaming, with game streaming expected to be widely accessible due to improved internet infrastructure.