Key regions: United States, Sweden, Asia, Europe, Germany
The eSports market in Singapore has been seeing considerable growth, fueled by factors such as increasing media rights deals and rising popularity of online gaming. This growth rate is driven by the country's strong digital infrastructure and growing interest in eSports among the younger generation.
Customer preferences: The eSports market in Singapore has seen a significant increase in demand for digital streaming services, as more consumers prefer to watch tournaments and matches online rather than on traditional television. This shift can be attributed to the growing popularity of eSports among younger demographics and the convenience of accessing content on multiple devices. Additionally, the rise of virtual and augmented reality technology has also led to an increase in demand for immersive viewing experiences, further driving the growth of digital media rights in the eSports market.
Trends in the market: In Singapore, the eSports market has seen a significant increase in media rights deals, with major organizations like ONE Championship and Riot Games partnering with local broadcasters to air eSports tournaments. This trend is expected to continue as the market for eSports in Singapore grows, with more players, teams, and tournaments emerging. This presents opportunities for media companies to tap into the lucrative eSports audience and for brands to reach a highly engaged and niche demographic. However, it also raises concerns about the sustainability of these partnerships and the potential for oversaturation in the media rights market. As the market matures, industry stakeholders will need to carefully consider the balance between demand and supply, as well as the long-term viability of these partnerships.
Local special circumstances: In Singapore, the eSports market is thriving due to the country's high internet penetration rate and tech-savvy population. This has led to a strong demand for eSports media rights, especially among the younger demographic. Additionally, the country's strict regulations on gambling and censorship have created a safe and stable environment for eSports events and content. This unique regulatory landscape has also attracted international investors and sponsors, further driving the growth of the media rights market in Singapore.
Underlying macroeconomic factors: The Media Rights Market within the eSports Market in Singapore is heavily influenced by macroeconomic factors such as the country's overall economic health, government policies, and global economic trends. With a strong economy and supportive government policies, Singapore has become a hub for the eSports market, attracting investments and driving market growth. Additionally, the growing popularity of eSports among the younger population and the increasing digitalization of media consumption have also contributed to the growth of the Media Rights Market in Singapore. These factors have created a conducive environment for the market to thrive and are expected to continue driving its growth in the future.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the Media Rights market, which comprises revenues from ownership rights of media agencies. These include payments to industry stakeholders to secure the rights to show Esports content on a channel, payments from streaming platforms (e.g., Twitch) to organizers to broadcast their content, payments from foreign broadcasters to secure the rights to show content in their region, or the copyright costs for showing video/image content of an Esports competition. 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.
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