Esports

In Belgium, revenue in the Esports market is projected to reach US$37.9m in 2024.
Revenue in this sector is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 6.00%, which will result in a projected market volume of US$50.7m by 2029.
The largest market within this market in Belgium is Esports Betting, with an expected market volume of US$25.2m in 2024.
While most revenue is generated the United States with a projected market volume of US$1.1bn in 2024, Belgium's participation remains significant.
In the Esports market, the number of users in Belgium is expected to amount to 3.4m users by 2029.
User penetration in Belgium will be 25.1% in 2024 and is projected to increase to 29.0% by 2029.
The average revenue per user (ARPU) in Belgium is expected to amount to US$12.91.
Belgium's esports market is rapidly evolving, with increasing government support fostering local talent and boosting the competitive gaming landscape.

Definition:

Esports, short for electronic sports, refers to competitive video gaming where professional players or teams compete in various multiplayer video games. These competitions are often organized into leagues, tournaments, and events, attracting both online and offline audiences. Esports has grown into a global industry, with players, sponsors, and spectators contributing to its popularity and economic significance.

Structure:

The Esports market can be divided into 6 different parts. First, Sponsorship & Advertising, which refers to revenues made from sponsorship deals and advertising for events and tournaments. Merchandise & Ticketing refers to the revenues generated mainly from tournament tickets and the merchandise that comes with it. Additionally, Streaming, Media Rights and Publisher Fees, which all refers to the revenue that is associated with broadcasting Esports events accross various channels. Lastly, Esports Betting includes the betting on outcomes of Esport events.

Additional information:

The market comprises revenues, ad spendings, users, average revenue per user, and penetration rates. Revenues are generated through advertising spending and consumer spending. Sales channel data shows both online and offline revenues. Information on Esports betting can also be found in the Digital Market Insights. All monetary figures refer to the annual gross revenue.
Key players of the market include companies or teams such as FaZe, Cloud9 or TSM.
For more information on the data displayed, use the info button right next to the boxes.

Professional and semi-professional gaming competitions, such as Semi-Pro League
Tournaments and leagues, such as Dota 2 The International
Sponsorship deals and advertising, such as FaZe and Steelseries
Merchandise and ticketing for Esport tournaments
Streaming of tournaments, such as streaming on Twitch

Amateur competitions, such as Amateur Esports League
Streaming revenues of non-organized competitive gaming, such as casual gaming on Twitch
Digital and physical sales from video games, such as sales of Call of Duty
Digital tools associated with revenues from Esports, such as Teamspeak or Discord

The eSports market in Belgium is seeing moderate growth, as the sub-markets of Sponsorship & Advertising, Merchandise & Ticketing, Streaming, Media Rights, Publisher Fees, and Esports Betting continue to gain traction. Factors such as increasing popularity of online gaming, growing interest in competitive gaming, and the convenience of online streaming services are driving this growth. However, challenges such as limited mainstream recognition and regulatory hurdles are impacting the market's growth rate.

Customer preferences: As the popularity of eSports continues to grow in Belgium, there has been a noticeable shift in consumer preferences towards mobile gaming and streaming platforms. This trend is largely influenced by the younger demographic, who are more likely to consume media on their smartphones and tablets. As a result, there has been an increase in demand for mobile-friendly eSports games and streaming services. Additionally, the rise of social media has also played a significant role in driving this trend, as it allows for easy sharing and engagement among fans and players. This shift towards mobile gaming and streaming highlights the importance of catering to the evolving lifestyle and digital preferences of consumers in the eSports market.

Trends in the market: In Belgium, the eSports market is experiencing a surge in popularity, with major events and tournaments drawing in large audiences and generating significant revenue. This trend is expected to continue as more organizations and companies invest in the industry, leading to the development of new technologies and services. Additionally, there is a growing trend of incorporating eSports into traditional sports, creating a hybrid market with potential for growth and innovation. This presents opportunities for stakeholders to capitalize on the growing demand for eSports and expand their reach to a wider global audience.

Local special circumstances: In Belgium, the eSports market is seeing significant growth due to the country's strong internet infrastructure and high level of digital adoption. Additionally, the country's progressive attitude towards gaming and technology has created a supportive environment for eSports, with government support and investments in eSports events and teams. Unlike other markets, Belgium has a strong focus on local and regional tournaments, catering to the diverse gaming communities in different parts of the country. This local approach has also led to the development of unique gaming cultures and communities, further fueling the growth of the eSports market in Belgium.

Underlying macroeconomic factors: The eSports market in Belgium is impacted by macroeconomic factors such as technological advancements, government support, and investment in infrastructure. Countries with favorable regulatory environments and strong investment in eSports technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing popularity of eSports worldwide and the growing interest from major corporations are driving the demand for eSports events and competitions, contributing to the market's growth. The country's stable economic health and government initiatives to promote the gaming industry also play a significant role in sustaining the market's growth.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Esports market, which comprises revenues from and users of professional competitive gaming content. This includes any professional and semiprofessional gaming competitions within tournaments or leagues that offer a championship title or prize money. All figures are based on net revenues and exclude agency commissions, rebates, and production costs.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

The rapidly growing phenomenon surrounding eSports continues to gather steam. The intersection of gaming and sports offers an innovative wave of branding opportunities, engaging content and activations for millions across the world. It therefore comes as no surprise that the size of the global eSports market is expected to increase more than fivefold between 2023 and 2032, reaching a value of over 10 billion U.S. dollars within the next ten years.