Esports - Sweden

Sweden

In Sweden, revenue in the Esports market is projected to reach €65.4m in 2024.
The revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 6.91%, which will lead to a projected market volume of €91.3m by 2029.
Within this market, Esports Betting is anticipated to be the largest market, with a market volume of €40.8m in 2024.
While most revenue is generated the United States, it is notable that in Sweden is also an active participant in the Esports market landscape.
The number of users in the Esports market in Sweden is expected to reach 1.9m users by 2029.
User penetration in Sweden will be 14.2% in 2024 and is projected to increase to 17.2% by 2029.
Furthermore, the average revenue per user (ARPU) in Sweden is expected to amount to €43.29.
Sweden's vibrant gaming culture continues to drive innovation in the Esports market, fostering a strong community and attracting global talent and investment.

Key regions: China, United States, Asia, Germany, France

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Analyst Opinion

The eSports market in Sweden is experiencing gradual growth, influenced by factors such as increasing popularity of digital entertainment, rising interest in competitive gaming, and the convenience of online platforms. However, subdued growth is observed due to challenges in securing sponsorships, limited merchandise availability, and regulations surrounding eSports betting.

Customer preferences: In Sweden, the growing popularity of eSports has led to a rise in demand for live streaming platforms and online gaming communities. This trend is driven by a cultural shift towards virtual socialization and the desire for convenient and accessible forms of entertainment. Additionally, the rise of mobile gaming and the emergence of virtual reality technology have further expanded the reach and appeal of the eSports industry. This shift in consumer preferences highlights the increasing importance of digital platforms and virtual experiences in modern society.

Trends in the market: In Sweden, the eSports market is experiencing a surge in popularity, with more players and viewers than ever before. This trend is expected to continue as the country's government has recognized eSports as an official sport and invested in infrastructure to support its growth. Additionally, there is a growing trend of incorporating eSports into traditional sports events, bridging the gap between the two industries. This has significant implications for stakeholders, as it opens up new opportunities for partnerships and sponsorships, and also highlights the potential for eSports to become a mainstream form of entertainment in the country. Furthermore, the increasing presence of Swedish players in international eSports competitions has put a spotlight on the country's talent and could attract more investment and opportunities for growth in the industry.

Local special circumstances: In Sweden, the eSports market is thriving due to the country's strong technology infrastructure and widespread access to high-speed internet. Additionally, Sweden's supportive government policies and progressive attitudes towards gaming have created a favorable environment for esports growth. The country's long history and success in traditional sports have also contributed to the development of a competitive esports scene. Furthermore, Sweden's emphasis on work-life balance and the popularity of gaming culture have led to a large community of dedicated esports fans and players.

Underlying macroeconomic factors: The eSports market in Sweden is heavily influenced by macroeconomic factors, such as the country's strong economy and supportive government policies. With high levels of technological advancement and a robust digital infrastructure, Sweden is well-positioned for growth in the eSports industry. Additionally, the country's investment in education and training has led to a highly skilled workforce, making it a desirable location for eSports companies to establish a presence. Furthermore, the increasing popularity of eSports globally, combined with Sweden's strong gaming culture and high internet penetration rate, is driving the demand for eSports in the country.

Methodology

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.