Dublin, July 27, 2023 (GLOBE NEWSWIRE) -- The "Global eSports Market 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global esports market is expected to grow at a rapid pace, with a projected CAGR of 18.6% during the forecast period.
This growth is primarily driven by factors such as the increasing popularity of live streaming, growing audience engagement, infrastructure development for esports tournaments, and the rise of professional opportunities in the industry for influencers, gamers, event organizers, and game developers. Millennials see esports as a viable career option due to the surge in gaming tournaments, sponsorships, streaming revenues, and substantial international prize pools. Educational institutions are also offering dedicated esports programs and scholarships to nurture skilled professionals in the field.
The market is segmented based on streaming type, platform, revenue model, and gaming genre. Among these, sponsorships stand out as a dominant revenue model, enabling brands to reach potential customers through creative advertising methods and targeting. Media rights are also expected to play a significant role in generating revenue, given the abundance of esports content broadcast on various platforms like Twitch.
Geographically, North America and the Asia-Pacific region are the key growth markets for esports. In North America, the popularity of video games, increased media coverage, and investments from major companies contribute to the market's expansion. In the Asia-Pacific, China and South Korea are significant players, with China leading due to its strong esports culture and game development. South Korea boasts a robust esports infrastructure and associations that fuel the industry's growth.
Major players in the esports market include Activision Blizzard, Inc., Epic Games, Inc., Gfinity PLC, and Modern Times Group. These companies employ various strategies like mergers, acquisitions, partnerships, and new product launches to stay competitive and drive market growth.
Report Coverage:
- Market value data analysis of 2022 and forecast to 2030
- Annualized market revenues ($ million) for each market segment
- Country-wise analysis of major geographical regions
- Key companies operating in the global esports market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future
- Analysis of market-entry and market expansion strategies
- Competitive strategies by identifying 'who-stands-where' in the market
Key Topics Covered
1. Report Summary
2. Market Overview and Insights
3. Competitive Landscape
4. Market Segmentation
5. Regional Analysis
6. Company Profiles
- Alphabet Inc.
- DLive Entertainment Pte. Ltd.
- Electronic Arts Inc.
- HTC Corp.
- Intel Corp.
- Meta Platforms Inc.
- Microsoft Corp.
- Nintendo Co. Ltd.
- NVIDIA Corp.
- Riot Games, Inc.
- Sony Group Corp.
- Tencent Holdings Ltd.
- Twitch Interactive, Inc.
- Valve Corp.
- X1 Esports and Entertainment Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/gcufic
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