E-sports Market Surges as Organizations Combat Rising Threats | Growing at CAGR of 17.5%
As per global Esports market trends, North America is further anticipated to dominate the Esports market in the upcoming years,
PORTLAND, PORTLAND, OR, UNITED STATES, May 23, 2023 /EINPresswire.com/ — According to the report, the global Esports industry garnered $0.94 billion in 2020, and is expected to generate $4.75 billion by 2030, witnessing a CAGR of 17.5% from 2021 to 2030.
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Increasing inclination toward video games and rise in popularity of e-sports event drive the growth of the global Esports market. On the other hand, lack of standardization in online gaming event and online threats such as gambling impede the growth to some extent. However, rise in number of tournaments & events and with long term investment opportunities have been beneficial for the market growth.
Covid-19 Scenario
• The outbreak of the pandemic affected the implementation of Esports, especially during the initial phase.
• Nevertheless, rise in demand for interactive virtual and online gaming is expected to help the market recoup soon.
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On the basis of components, the platform segment accounted for the highest market share in 2020, generating more than two-thirds of the global Esports industry. This is owing to a surge in the adoption of Esports among developing as well as developed countries to gain strategic as well as competitive advantage over their competitors. On the other hand, the services segment is anticipated to cite the fastest CAGR of 18.6% from 2021 to 2030, owing to growing preference for online gaming.
On the basis of streaming type, the on-demand segment generated the highest share in 2020, holding three-fifths of the global Esports market. This is attributed to numerous benefits provided by streaming type segment such as top-end quality of gaming, easy customization, high security of gaming ID, and others. However, the live segment is expected to cite the fastest CAGR of 19.5% from 2021 to 2030. Rise in adoption of real-time streaming of Esports fuels the growth of the segment.
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On the basis of region, Asia-Pacific, followed by North America contributed to the major market share in terms of revenue 2020, holding nearly two-fifths of the global Esports industry. The same region is also projected to cite the fastest CAGR of 19.5% from 2021 to 2030. This is due to high-end technological growth along with the ongoing development in the gaming industry. The report also discusses other regions such as North America, Europe, and LAMEA.
The key Esports industry players profiled in the report are Activision Blizzard, Inc., CJ Corporation, Electronic Arts, FACEIT, Gameloft SE, Gfinity, Kabam, Modern Times Group, Nintendo, NVIDIA Corporation. This study includes market trends, Esports market analysis, and future estimations to determine the
imminent investment pockets.
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Key Benefits For Stakeholders:
• The study provides an in-depth analysis of the Esports market along with the current trends and future estimations to elucidate the imminent investment pockets.
• Information about key drivers, restraints, and opportunities and their impact analysis on the Esports market size is provided.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the Esports market.
• The quantitative analysis of the Esports market from 2020 to 2030 is provided to determine the Esports market potential.
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