Bolting Forward: Market Analysis of E-Motorsport in the United States

According to a new report published by Allied Market Research, titled, "U.S. E-motorsport Market by Component, Deployment mode, Function, and Industry Vertical: Opportunity Analysis and Industry Forecast, 2021-2031,". The U.S. E-motorsport market was valued at $285.12 million in 2021, and is projected to reach at $1,064.45 million by 2031, growing at a CAGR of 14.3% from 2022 to 2031.

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E-motorsports is an online gaming platform, that includes F1 Formula racing, car racing, and electronic motorsports game. E-motorsports gaming platform provides users with the ability to enter various online races and championships suited to their location and skill level. E-motorsports games usually consist of skilled or professional gamers competing against one another for a cash prize. E-motorsports is a customer-centric business offering a mix of professional products, turnkey solutions, and a world class esports racing league.

Factors such as major shift toward digital transformation, rise in cloud-based services, technological advancement in e-motorsports gaming platform and ongoing modernization of digital gaming such as augmented & virtual (AR/VR) gaming event that drive heavy investment in e-motorsports in U.S., which in turn, foster the growth of the market. In addition, increase in use of smartphones and internet penetration drive the growth of the U.S. e-motorsports.

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E-motorsports market forecast has increased in the U.S. in the last few years due to adoption of new cutting-edge technologies in various organizations and rise in competition to create new milestone in gaming and online sports sector. In addition, surge in demand for next generation online gaming service among enterprises fuels the growth of the market.

Furthermore, increase in awareness of video games and growth in popularity of e-motorsports in U.S. drive the growth of the market. However, lack of standardization and threats such as betting and Staking may restrict the market expansion. Furthermore, long-term investment initiatives taken by the key players and surge in number of tournament & event with huge prize are expected to create lucrative opportunity for the U.S. e-motorsports market during the forecast period.

The live segment is expected to experience fastest growth in the coming years, owing to rise in the adoption of real-time streaming of e-motorsports due to its cost-effective and easy-to-broadcast operation. The live e-motorsports game event provides real-time game and tournament broadcasting for audience such as traditional gaming and sports.

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Based on components, the platform segment dominated the overall U.S. e-motorsports market share in 2021 and is expected to continue this trend during the forecast period. This is attributed to increase in adoption of e-motorsports in the U.S. to gain strategic as well as competitive advantage over their competitors. In addition, the e-motorsports platform providing well-programed software and gaming console for e-motorsports tournament and matches and increase in demand for online sport drive the growth of the market.

However, the service segment is expected to witness highest growth, as the service segment provides various services such as managed service, professional service, training, and maintenance for the U.S. e-motorsports. Growth in adoption of online gaming and virtual tournament of the e-motorsports event in U.S. have increased demand for managed service, which is expected to further fuel the growth of the market.

Depending on streaming type, the on-demand segment dominated the U.S. e-motorsports market size in 2021 and is expected to continue this trend during the forecast period. The growth of the segment is attributed to numerous benefits provided by streaming type segment such as high quality of gaming, ease of customizing sports as per the requirement of players, and high security of gaming ID.

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However, the live segment is expected to witness highest growth in the U.S. e-motorsports market, owing to rise in adoption of real-time streaming of e-motorsports due to its cost-effective and easy to broadcast operation. The live e-motorsports game event provides real-time game and tournament broadcasting for audience such as traditional gaming and sports. Such factors are anticipated to fuel the growth of the e-motorsports market across the U.S.

This report gives an in-depth profile of some key market players in the U.S. E-motorsport industry include AMR GP Limited, Competition Company GMBH, Formula One World Championship Limited, IRacing.com Motorsport Simulations, LLC., Logitech, McLaren Group, Motorsport Games, Red Bull Racing Ltd, Team Redline, and Veloce Ltd. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which propel growth of the U.S. E-motorsport market analysis.

Key Benefits For Stakeholders:

• The study provides an in-depth analysis of the U.S. E-motorsport market along with the current trends and future estimations to elucidate the imminent investment pockets.

• Information about key drivers, restrains, and opportunities and their impact analysis on the U.S. E-motorsport market size is provided in the report.
• Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the U.S. E-motorsport industry.

• The quantitative analysis of the U.S. E-motorsport market for the period 2021-2031 is provided to determine the U.S. E-motorsport market potential.

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