Esports Market Grow at a CAGR of around 25% during 2021-2027

The increasing smartphone penetration and better internet connectivity have led to rise in the number of gamers at a rapid pace. It imitates the experience of viewing a professional sports event, where audiences watch video gamers compete against each other. Esports events comprise competitive leagues and tournaments. Further, with increasing player wages and expanding Esports market, the introduction of new sponsors is critical for the future commercial success of Esports.

Some of the major players operating in the market include Activision Blizzard, Inc., CJ Corporation, Electronic Arts, FACEIT, Gameloft SE, Gfinity, Kabam, Modern Times Group, Nintendo, NVIDIA Corporation, etc. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.

The large share of the streaming type segment can be attributed to the growing youth population and changing lifestyles have both contributed to an increase in demand for video games and online video games over the years. Growing audience reach and engagement activities, significant investments, rising live streaming of games, and expanding infrastructure for league tournaments are key factors driving the market growth.

Smartphone holds the highest share in the Esports market. The constant technological advancements across the world have compelled people to depend on smartphones, several high-tech gadgets, and the internet. The growth of the segment is attributed to numerous benefits provided by this device type such as high quality of gamming, which results in much better gaming experience, high security, and others. However, the smartphone segment is expected to witness highest growth in the upcoming years.

North America dominated the market in 2020. The high and growing adoption of advanced gaming technologies, changing entertainment preferences among consumers, rising income levels, and growing demand for mobile gaming all contribute to the North American region’s big proportion. The United States is also home to the great majority of worldwide players, making it a hotbed of innovation in the Esports business.

Read More: https://www.giiresearch.com/report/umi1063037-esports-market-current-analysis-forecast.html