BANGALORE, India, Feb. 24, 2021 /PRNewswire/ -- The Esports Market is Segmented by Type (Multiplayer Online Battle Arena (MOBA), First-Person Shooter (FPS), Real-Time Strategy (RTS), Other), Application (Professional, Amateur): Global Opportunity Analysis and Industry Forecast, 2021-2026. This report is published on Valuates Reports in the Computer & Video Games Category.
The global Esports market size is projected to reach USD 1860.2 Million by 2026, from USD 691.6 Million in 2019, at a CAGR of 15.1% during the forecast period 2021-2026.
Major factors driving the growth of global esports market size are the increasing popularity of video games, formidable investments, rising live streaming of games, and increasing infrastructure for the league tournaments.
In recent years, esports has exploded into the mainstream, moving from a niche to a central form of entertainment across the globe, and ticket sales are shifting from the arena to the internet. While esports may have once stood for a subset of sporting culture, it has become a complete industry in its own right with the current developments.
The report offers a comprehensive analysis and accurate statistics on revenue by the player for the period 2016-2021. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by players for the period 2016-2021.
TRENDS INFLUENCING THE GROWTH OF ESPORTS MARKET SIZE
The increasing popularity of video games is expected to drive the esports market size. The online gaming market is growing at a healthy pace due to factors such as increasing acceptance of advanced gaming technology, evolving customer entertainment preferences, rising income levels, and increasing demand for mobile gaming. Furthermore, the growing mobile penetration and increased internet access are expected to fuel the esports market size.
Millennials see esports as a competitive occupation due to the growing popularity of gaming tournaments, impressive international prize pools, streaming revenues, and one-to-one sponsorships. In addition, universities and colleges are starting a dedicated sports program to cultivate qualified professionals. These factors are in turn expected to increase the growth of the esports market size.
The rising investment and sponsorship are expected to increase the growth of the esports market size. Increasing investment in the last two years is creating new avenues for development in the esports market. Investments in this sector have made considerable progress in recent years as the ecosystem provides a number of investment opportunities across a wide range of subsectors. According to a recent forecast, the esports ecosystem is on track to cross $1 billion in sales for the first time this year. Money flows into esports through broadcast rights, live event ticket sales, merchandise sales, and in-game transactions, but most of the revenue comes from sponsorships and advertising.
The MOBA (Multiplayer Online Battle Arena) segment is expected to hold the largest esports market share during the forecast period.
The availability of different elements of MOBA games, such as collecting items, obtaining goods, leveling up, and battling with computer-generated units, is driving the growth of the segment in this market.
Based on region, the APAC is expected to hold the largest esports market share during the forecast period.
The rising penetration of mobile gaming and internet use in the area has intensified the growth of esports. In 2003, China declared esports to be an official sport, and after 13 years, it was declared a national industry providing sports operators and professionals' jobs in the country. South Korea is also a renowned country for sports space, offering facilities to gamers, including their gaming houses, coaches, and analysts.
North America is also expected to hold a significant esports market share during the forecast period.
With the North America League of Legends Championship Series (NA LCS) and the Overwatch League, investment and development are expected to continue during the forecast period. Esports is a multi-million dollar industry in the U.S. involving game creators, teams, leagues, TV networks, and streaming services.
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