Esports - Norway

Norway

In Norway, revenue in the Esports market is projected to reach €29.1m in 2024.
Revenue in this sector is expected to show an annual growth rate (CAGR 2024-2029) of 6.78%, leading to a projected market volume of €40.4m by 2029.
The largest market within the Esports market in Norway is Esports Betting, which is anticipated to have a market volume of €17.7m in 2024.
Most revenue in the Esports market is generated the United States, with a projected market volume of €982.1m in 2024.
By 2029, the number of users in the Esports market in Norway is expected to reach 1,636.0k users.
User penetration in Norway will be 22.9% in 2024 and is forecasted to increase to 28.6% by 2029.
Additionally, the average revenue per user (ARPU) is expected to amount to €23.04.
Norway's burgeoning Esports scene is increasingly attracting investment and fostering local talent, reflecting the country's growing enthusiasm for competitive gaming.

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

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Analyst Opinion

The eSports market in Norway is experiencing subdued growth due to factors such as limited sponsorship and advertising opportunities, low merchandise and ticket sales, and strict regulations on eSports betting. However, the market is expected to pick up as media rights and streaming platforms continue to gain popularity, and publishers introduce new fees for tournaments. This growth is also driven by the increasing awareness and participation in eSports among consumers in Norway.

Customer preferences: As the popularity of eSports continues to rise in Norway, there has been a notable shift in consumer preferences towards virtual events and tournaments. This trend is driven by the younger demographic, who are more comfortable with online interactions and are looking for convenient and accessible ways to engage with their favorite games and players. This has also led to an increase in demand for high-quality streaming platforms and virtual merchandise, creating a new avenue for revenue generation in the eSports market.

Trends in the market: In Norway, the eSports market is experiencing a surge in online streaming and viewing platforms, with increased investment in infrastructure and technology to support this trend. Additionally, there is a growing interest in competitive gaming among younger demographics, leading to the development of youth leagues and tournaments. These trends indicate a shift towards online and virtual forms of entertainment, with implications for traditional sports and media industries. Industry stakeholders must adapt to these changes and capitalize on the growing popularity of eSports to remain competitive in the market.

Local special circumstances: In Norway, the eSports market is experiencing rapid growth due to the country's highly developed digital infrastructure and tech-savvy population. Additionally, the popularity of gaming culture and high disposable income among Norwegians has fueled the demand for eSports events and tournaments. Moreover, the country's supportive government policies and regulations towards the eSports industry have created a favorable environment for its growth. This unique combination of factors has contributed to the flourishing of the Norwegian eSports market, making it a key player in the global industry.

Underlying macroeconomic factors: The eSports market in Norway is also impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. With a strong economy and favorable regulatory environment, Norway has seen significant growth in the eSports market. Additionally, the increasing popularity of eSports among the younger population and the country's high internet penetration rate have also contributed to the market's growth. Furthermore, government initiatives and investments in technology and infrastructure have created a supportive ecosystem for the eSports industry, driving its expansion in Norway.

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.