Esports market is serious business, gathers more spectators than NFL events, revenue all set to surpass USD 7 Bn by 2028 at a CAGR of 25.1%
Acumen Research and Consulting
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As per research conducted by Acumen Research and Consulting, the global Esports market was valued at 1215.6 Mn USD in 2020 and is set to grow at a massive CAGR of 25.1% during the forecast period ranging between 2021 – 2028, and is expected to reach 7131.8 Mn USD.?
The Esports market is all set to rise impressively in the years to come, thanks to growing number of professional gamers and a?robust youth population of Asian countries. Esports or electronic sports is described as video game competitions being played online or offline. It saw a huge rise in popularity due to lockdowns being implemented across countries during Covid-19 pandemic. Top esports events have gathered more crowd than NFL events.?
Market revenue is segmented by advertising, sponsorship, media rights, merchandise and tickets etc.?
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Dynamics and opportunities in this market?
The market growth is being fueled by people especially youth spending high amount of time online, along with smartphones and data becoming quite affordable. The worldwide number of mobile gamers stands at over 2.5 Bn. Facebook, Twitch and YouTube allow streamers to become popular and also help them earn money. Along with high growth in consumer spending are some of the factors driving the market.??
Regional Summary?
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Asia Pacific markets have high youth population in countries like India, China Indonesia etc., along with income disposability. North American and European markets also have dominant position in the esports market. In the years to come, Africa may also see tremendous growth thanks to steadily growing youth population.?
Major Players?
Tencent Holding, Activision Blizzard, Gameloft SE, Nintendo, Nvidia Corp, Sony, Valve Corp, Electronic Art Inc, Modern Times Group.?
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