Esports

In Serbia, revenue in the Esports market is projected to reach US$5.7m in 2024.
This revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 4.40%, leading to a projected market volume of US$7.0m by 2029.
The largest market within this market in Serbia is Esports Betting, which is anticipated to have a market volume of US$3.3m in 2024.
While most revenue is generated the United States, in Serbia is also experiencing growth with a projected market volume of US$1.1bn in 2024.
In the Esports market in Serbia, the number of users is expected to reach 1.9m users by 2029.
User penetration in Serbia will be 21.6% in 2024 and is forecasted to increase to 27.1% by 2029.
The average revenue per user (ARPU) in Serbia is expected to amount to US$3.71.
Serbia's esports market is rapidly evolving, with increasing youth engagement and a burgeoning community of local tournaments and professional teams.

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 Serbia is witnessing steady growth, driven by factors such as increasing popularity of digital platforms, rising awareness among consumers, and the convenience of online services. However, the market's growth rate is minimal due to challenges such as lack of mainstream recognition, limited resources, and regulatory barriers.

Customer preferences: The rise of online gaming communities and virtual tournaments has led to a growing demand for advanced gaming equipment and high-speed internet services in Serbia. This trend is driven by the younger demographic, who prioritize gaming as a form of entertainment and social interaction. Additionally, the increasing availability of mobile devices has made it easier for individuals to access and participate in eSports events, further fueling the growth of the industry.

Trends in the market: In Serbia, the eSports market is experiencing a surge in online gaming and live streaming events, with a growing number of players and viewers. This trend is expected to continue, fueled by the increasing availability of high-speed internet and the rise of professional eSports teams. This trajectory presents significant opportunities for industry stakeholders, such as game developers, advertisers, and tournament organizers, to tap into this growing market. It also has potential implications for traditional sports, as eSports continues to gain mainstream recognition and compete for viewership and sponsorship. As the trend towards online gaming and eSports intensifies, it is essential for industry players to adapt and innovate to stay competitive in this dynamic market.

Local special circumstances: In Serbia, the eSports market has been steadily growing due to the country's increasing internet penetration and the younger generation's interest in gaming. The country's unique geographical location, situated between Eastern and Western Europe, has also played a role in its eSports market development, with access to both Western and Eastern game titles. Additionally, Serbia's cultural inclination towards technology and innovation has further fueled the growth of the eSports market. Furthermore, the country's favorable regulatory environment has attracted international eSports tournaments, making it a popular destination for professional gamers and enthusiasts alike.

Underlying macroeconomic factors: The eSports market in Serbia is heavily influenced by macroeconomic factors such as the country's overall economic health, government fiscal policies, and global economic trends. A stable and growing economy, coupled with favorable government policies and investments in the gaming industry, has contributed to the rapid growth of the eSports market in Serbia. Additionally, the increasing popularity of gaming and technological advancements in the country have also played a significant role in driving the demand for eSports and related industries. As the Serbian economy continues to thrive and attract foreign investments, the eSports market is expected to experience further growth and development.

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.