The eSports market is expected to grow rapidly in the following years. According to GoldenCasinoNews.com, from an estimated $865m in 2018, eSports worldwide revenues are projected to increase to $1.79bn in 2022, meaning it will double in the next three years.
North America as the largest esports market
Compared by size, North America is the largest eSports market in the world, with 37% market share in 2019. During this year, it was projected that the eSports market in China would hold a 19% share of the entire market. South Korea will end 2019 with 6% eSports market share, while the rest of the world holds 38% of the eSports market.
According to the recent GoldenCasinoNews.com research, along with the increasing growth of the entire eSports market, the combined eSports prize pool continues to rise for around $25m per year. For example, the combined prize pool for all eSports events in 2010 was $3,5m in total, and in 2017 it reached $121.1m.
Esports sponsorships to reach $1.2bn by 2020
Over the years, eSports became a profession for many gamers competing for sizeable profit in numerous championships and tournaments. Like in all other sports, the most successful eSports players are offered with large sponsorships. Sports teams, for example, some football clubs in the UK, are also recruiting gamers to help them build their audiences.
According to 2019 data, the total eSports revenue in 2019 amounted to $ 1.1bn, or 26.7% more than a year before. The majority of the global eSports revenue comes from sponsorships, which generated $457m in revenue in 2019, or 34.4% more compared to 2018 data. Esports media rights brought $251.3m profit, advertising $189.2m, while the merchandise and tickets generated $103.7m in earnings.
By estimations, in 2020, brands will spend around $1.2bn on eSports sponsorships and advertising. Compared to 2017 data, the total amount of eSports sponsorships will double in the following years.