According to a recent report, the global esports market was valued at $940 million in 2020. Additionally, this number is expected to grow to $4.75 billion by 2030, meaning the industry will register a compound annual growth rate of 17.5% during that period.
The platform sector of the industry accounted for more than two-thirds of the global esports market in 2020. The platform segment is expected to remain the most dominating force in the industry between 2021 and 2030.
The esports services market is going to register a CAGR of 18.6% over the next nine years. This is due to the increased adoption of online and virtual gaming tournaments.
The live gaming market will register the largest compound annual growth rate during the aforementioned forecast period. The report indicates that the cost-effectiveness and accessibility of live streaming will cause this growth.
(All information was provided by EIN News)