Reports and Insights (R&I) has published a new report titled, “Esports Market: Opportunity Analysis and Future Assessment 2020-2028”
Global Esports Market, By revenue streams (Media Rights (Subscriptions, Online Advertisements), Tickets and Merchandise, Sponsorships and Direct Advertisements, Publisher Fees), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global Esports market is estimated to reach at a value of US$ 1,070.3 Mn by the end of 2020 and expected to reach at a value of US$ 3,538.6 Mn by 2028 with a significant CAGR of 16.2%.
Esports and competitive video gaming industry, in the present day and age, is thriving expeditiously and has successfully led its way to the mainstream in recent few years, converting the industry from a vivid niche market to the central form of entertainment.
Basically esports or electronic sports can be perceived as a nature of sports where the fundamental respects of the sport are assisted by electronic systems, the output of the esports system along with the input of players and teams are interceded by the human-computer interfaces. The ultimate outcome is that esports has evolved from its roots in arcade gaming to the complicated digital ecosystem it is in the present times.
The expeditiously rising awareness as well as popularity of electronic and video gaming, especially in young children and adults, is one of the major factors that is propelling the growth of the global esports market.
The leading market players are also aiming their focusing on invariably introducing novel technologies and offering the best experience of gaming to consumers all across the world. For instance, Electronics Arts partnered with FIFA, in november 2017, in order to initiate an esports tournament series for the Electronics Arts FIFA video game franchise. Such factors are further projected to play a positive role in boosting the growth of the global esports market in the years to come.
With the same token, numerous acquisitions and partnerships happened in order to promote and popularize the concept of esports among the population around the world, which positively fueled the demand of esports worldwide.
However, the rising popularity of esports also brought increasing incidence of esport betting/gambling which is likely to act as a threat for the future growth of the global esports market. In addition to that, the narrow and restricted infrastructure for esports around the world is further estimated to slow down the growth of the global esports market over the forecast period.
Nevertheless, the escalating investments in more and more franchise style tournaments and leagues as well as microtransactions in video games, in current times, is expected to fuel the growth of the global esports market over the coming years.
R&I Study identifies some of the key participating players in the esports market globally are Modern Times Group, Activision Blizzard, FACEIT, Nintendo, Gfinity, Turner Broadcasting System, CJ Corporation, Valve Corporation, Tencent, and Electronic Arts (EA), among others.
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