Esports

In Lithuania, revenue in the Esports market is projected to reach US$7.8m in 2024.
The revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 3.61%, leading to a projected market volume of US$9.3m by 2029.
The largest market within this market is Esports Betting, which is anticipated to have a market volume of US$4.7m in 2024.
Although most revenue is generated the United States with a projected market volume of US$1.1bn in 2024, in Lithuania is also an emerging player in the Esports market landscape.
Within the Esports market, the number of users in Lithuania is expected to reach 859.3k users by 2029.
User penetration in Lithuania will be 24.8% in 2024 and is expected to increase to 33.3% by 2029.
The average revenue per user (ARPU) in Lithuania is projected to amount to US$11.61.
Lithuania's burgeoning esports scene is increasingly attracting investments, indicating a growing recognition of its potential as a competitive gaming hub in Europe.

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 Lithuania is experiencing minimal growth, influenced by factors such as increasing investment in sponsorship and advertising, the popularity of merchandise and ticketing, and the growth of streaming and media rights. However, the market is hindered by challenges such as limited publisher fees and strict regulations on eSports betting.

Customer preferences: The rising popularity of eSports in Lithuania has led to a shift in consumer preferences towards online gaming and virtual competitions. This trend is driven by the increasing availability of high-speed internet and the growing interest in competitive gaming among the younger demographic. Additionally, the rise of social media and online streaming platforms has created new opportunities for eSports players and teams to gain recognition and sponsorship deals, further fueling the growth of the market.

Trends in the market: In Lithuania, the eSports market has been growing rapidly in recent years, with a significant increase in the number of players, teams, and tournaments. This trend is expected to continue as the country's government has recognized eSports as an official sport and is investing in infrastructure and training facilities. Moreover, there has been a surge in interest and investment from traditional sports organizations, further driving the growth of the industry. This trend is significant for stakeholders as it opens up new opportunities for partnerships, sponsorships, and revenue streams. It also highlights the potential for Lithuania to become a hub for eSports in the region, attracting international events and boosting the country's economy. However, there could be potential challenges, such as the need for regulations and guidelines to ensure fair competition and protect the rights of players. Overall, the trajectory of the eSports market in Lithuania is promising, and stakeholders should continue to monitor and adapt to this evolving landscape.

Local special circumstances: In Lithuania, the eSports market is growing rapidly, driven by the country's high internet penetration and tech-savvy population. The government has also recognized the potential of the industry and has implemented favorable policies, such as tax breaks for eSports organizations. Additionally, the country's strong gaming culture and support for local teams have created a vibrant and competitive eSports scene. This unique combination of factors has contributed to the market's success and sets it apart from other countries in the region.

Underlying macroeconomic factors: The eSports market in Lithuania is largely influenced by macroeconomic factors, including the country's economic health and fiscal policies. With a growing global interest in eSports, Lithuania's strong economic growth and stable fiscal policies have created a favorable environment for market development. Additionally, the country's investment in technological advancements and infrastructure has contributed to the growth of the eSports industry. However, fluctuations in national economic health and regulatory challenges could potentially impact the market's performance. Furthermore, the increasing popularity of eSports among the younger generation and the rise of live streaming platforms have also contributed to the growth of the market in Lithuania.

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.