Global E-Sports Market Forecast To Beat $4 Billion By 2027
The global e-sports market is forecast to beat revenues of $4.12 billion by 2027, up from $823.29 million in 2018, with key propelling factors including growing video game popularity.
According to latest numbers from Research and Markets, the global e-sports market is forecast to grow at a CAGR of 19.6% until 2027, seemingly despite the COVID19 pandemic.
Hampering factors for e-sports revenue growth could include the risk of e-sports gambling and betting.
E-sports events have also contributed to rising popularity and demand, pitting electronic gaming players against each other in competitive tournaments alongside multi-million dollar deals. Commentators expect audiences to go online in pursuit of virtual, than in-person, events.
Income is generated via sponsorships and product endorsements, advertisements, ticket sales merchandise and media rights.
A plethora of electronics manufacturers – from Logitech to HyperX – have all tapped esports champions and players to represent their products, seeking a hike in end-user sales.
Revenue streams prompt by esports are also tipped to grow at significant levels, with brand owners using the tournaments as opportunities to directly reach game fans.
Concerning geography, the Asia Pacific region is predicted to hold “considerable market share” until 2027 due to an escalating number of esports competitions slated for the region.
Research and Markets asserts the Asia Pacific region has always been an outstanding market for the gaming industry, due to ease of entry and willingness of Western countries to invest in the \ region.
The news comes as gaming continues to gain speed in 2020, with home-bound consumers during the coronavirus pandemic seeking additional entertainment options.
Key players in the esports market include the likes of Nintendo, Electronic Arts, Activision Blizzard, Wargaming and Valve Corporation.