Ameco Research recently released a report highlighting the growth of the esports industry. Based on this survey, the global esports market will be worth $7.1 billion by 2028, registering a compound annual growth rate (CAGR) of 25% between now and then.
“The esports sector is growing at a breakneck pace and is expected to be worth billions of dollars in the near future,” the report reads. “Companies in the esports industry, teams in the esports industry, and even athletes in the esports industry are all worth millions. Millions of dollars are invested in esports contests. Some claim that the potential value of esports net worth will one day surpass the value of traditional sports such as football, basketball, and boxing. It’s natural for millennials and younger generations to play and be fans of esports, and it’s quite reasonable for people of a certain age to wager on them.”
An increase in esports viewership will be one of the driving forces behind the market’s growth. As of 2019, 1.8 billion people around the world had heard of esports. This figure has likely increased over the last three years.
The Asia-Pacific region is expected to be the largest esports market in the world followed by North America. With 160 million gamers, the United States is home to more than half of the world’s esports athletes. Meanwhile, China will lead the way in terms of esports revenue distribution during the forecast period.
(All information was provided by Xaralite)