What Is The Target Market For Esports?
Contents
A target market is a group of people defined by common characteristics such as age, location, income, hobbies, and interests. The target market for esports is people who are interested in video games and playing video games competitively.
Introduction
The esports industry is still in its infancy, but it is already generating a lot of buzz and excitement. Competitive gaming has been around for years, but only recently has it started to break into the mainstream consciousness. With millions of dollars being invested in professional teams and tournaments, esports is slowly becoming a fixture in the world of sports.
But what exactly is esports, and who is the target market for this new industry? In this article, we will attempt to answer these questions and give you a better understanding of the esports landscape.
##What Is Esports?
Esports is a term used to describe organized competitive gaming. Just like traditional sports, esports teams consist of professional players who compete against each other in various tournaments and leagues. However, instead of playing physical games such as football or basketball, esports athletes compete in video games.
The most popular games in the esports world are first-person shooters (FPS) such as Counter-Strike: Global Offensive and Overwatch, multiplayer online battle arena (MOBA) games like Dota 2 and League of Legends, and real-time strategy (RTS) titles such as Starcraft II.
While professional gaming has been around for more than two decades, it was only in the past few years that it started to gain mainstream traction. Thanks to the rise of live streaming platforms such as Twitch and YouTube Gaming, more people are now aware of competitive gaming and are tuning in to watch tournaments online.
As the industry continues to grow, there are plans to launch dedicated esports channels on TV networks around the world. In 2018, ESPN even launched an exclusive website covering all things esports. With more people taking notice of competitive gaming, it’s only a matter of time before esportswill be considered a major player in the world of sports entertainment.
##Who Is The Target Market For Esports?
With its growing popularity, you might think that esportswould be aimed at a young audience – and you would be correct for the most part. According to research firm Newzoo, 42% of all global esports viewers are between the ages of 21 and 35. This is followed by 36% who are between the ages of 36 and 50, while only 22% are aged 18 or below.
This data comes as no surprise when you consider that most popular esportstitles are rated “M” for Mature (17+) by the Entertainment Software Rating Board (ESRB). These types of games typically feature violence, gore, and other mature themes which would not be suitable for younger audiences.
The global esports market
The global esports market is expected to grow from $194.9 million in 2016 to $696.4 million in 2022, according to a report by Newzoo. This growth is being driven by the increasing popularity of online and mobile gaming, as well as the growing number of professional esports leagues and tournaments.
The global esports audience
The global esports audience is estimated to be around 335 million people in 2017, with projections suggesting that this will grow to over 500 million by 2020. Esports fans are typically young, male and highly engaged with the gaming industry.
They are also increasingly being drawn from a wider range of countries and cultures, as the popularity of esports grows around the world. This is reflected in the increasing diversity of top esports stars, with players from all over the world competing at the highest levels.
As the esports market continues to grow, it is important to understand the key demographics of its audience. This will enable brands and marketers to better target their efforts and ensure that they are reaching the right people with their message.
The global esports economy
The global esports market was valued at US$194.9 million in 2018 and is expected to grow at a CAGR of 26.7% from 2019 to 2025 to reach US$1,479.3 million by 2025. The growth of the esports industry is driven by several factors, such as the growing popularity of video games among millennials, the expansion of live streaming platforms, and increasing investment in esports.
Esports is a form of competition that is facilitated by electronic systems, particularly video games; the input of players and teams as well as the output of the esports system are mediated by human-computer interfaces. Esports often takes the form of organized, multiplayer video game competitions, particularly between professional players, individually or as teams. The most common video game genres associated with esports are real-time strategy, first-person shooter (FPS), fighting, and multiplayer online battle arena (MOBA). Tournaments such as The International, Blizzard’s Overwatch World Cup, and Riot Games’ League of Legends World Championship are among the largest in terms of both prize money and popularity.
The global esports market is segmented on the basis of Type, Platform, End User, and Geography. Based on type, the market is divided into online and offline. On the basis of platform, it is classified into PC/laptop/notebook gaming console gaming & mobile gaming . On the basis end user ,the market comprises professional gamers & amateur gamers .Based on geography it analyzed across North America , Europe ,Asia Pacific , rest)
The North American esports market
The North American esports audience
Research firm Newzoo reports that the North American esports market is expected to generate $1.4 billion in revenue in 2020, up from $Property734 million in 2017. The majority of this revenue will come from media rights, sponsorship, and advertising, with ticket and merchandise sales also contributing.
The North American audience for esports is predominantly male (65%), aged 21-35 (42%), and earns an average yearly salary of $61,000 (Newzoo). However, the audience is constantly expanding as the popularity of esports grows. Women now make up 35% of the audience, and there are increasing numbers of younger and older viewers tuning in.
With such a large and rapidly growing market, there are numerous opportunities for brands to get involved in the world of esports. Sponsorship is one of the most popular ways to reach the esports audience, with companies such as Intel, Red Bull, and T-Mobile all backing professional teams or events. Advertising during live broadcasts is another effective way to reach viewers, while many brands also host their own tournaments or create content featuring famous gamers.
The North American esports economy
The North American esports economy will grow to $1.65 billion in 2020, up nearly 10% from 2019, according to a report by Wintergreen Research.
The global esports economy is expected to grow to $2.96 billion by 2022, up from $1.65 billion in 2020, according to a report by Wintergreen Research.
The report, “eSports Market: Global Opportunity Analysis and Industry Forecast, 2019-2026” says that the Asia-Pacific region will lead the global esports market due to the presence of a large number of gaming companies and a huge player base in the region. The region is expected to generate $1.48 billion in revenue by 2026.
North America is expected to be the second-largest market for esports due to the growing popularity of gaming and esports events in the region. The region is expected to generate $1.65 billion in revenue by 2020 and $2.96 billion by 2022.
The European esports market
Europe is the largest esports market in the world, with a revenue of $409 million in 2019. This is followed by North America, which generated $226 million. The majority of these revenues come from sponsorships and advertising.
The European esports audience
The European esports audience is primarily young, male and highly engaged.
According to the latest figures from Newzoo, 43% of European esports fans are aged 18-34, and male fans make up 72% of the total.
European esports fans are also highly engaged with the genre, with 61% watching more than 3 hours of esports content per week.
This compares favorably with traditional sports audiences in Europe, which have an average age of 40 and are 60% male. However, traditional sports fans only watch an average of 2.7 hours of sports content per week.
The European esports market is currently worth $265 million, and is projected to grow to $1.79 billion by 2022. This growth will be driven by a number of factors, including the continued expansion of the global esports industry, the growing popularity of live streaming platforms such as Twitch, and the increasing amount of investment coming into the space from brands and advertisers.
The European esports economy
The European esports economy will be worth $1.4 billion in 2019, up from $694 million in 2016, according to a new report from research firm Newzoo.
The report notes that the European esports market is “poised for strong growth” thanks to a number of factors, including the increasing visibility of esports, the growing interest from traditional sports organizations, and the influx of investment from venture capitalists.
Newzoo estimates that there are now 32 million “esports enthusiasts” in Europe, and that number is expected to grow to 38 million by 2020. The majority of those enthusiasts are between the ages of 21 and 35.
Conclusion
The esports target market is young, male gamers who are passionate about gaming and engaged with the gaming community. This group is highly sought after by brands and sponsors looking to reach a youthful demographic. While the esports audience is mostly male, there is a growing number of female gamers and spectators who are getting involved in the scene. As the esports industry continues to grow, it will be important to keep an eye on these demographic trends to better understand the ever-changing landscape.
