According to Straits Research, the global esports market was worth almost $1.18 billion last year. Since this organization is reporting that the market is expected to be worth $5.74 billion by 2030, this industry will reportedly register a compound annual growth rate of 21.9% from 2022 to 2030.
Based on revenue models, the global esports market will be divided into numerous segments like advertising and sponsorships, media rights, and merchandising and tickets. During the aforementioned forecast period, the advertising and sponsorship segment of the market will grow at a CAGR of 22% by 2030, meaning it will hold the largest share of the industry.
The report was also broken up by streaming platforms, which include, Twitch, YouTube Gaming, and so on. Unsurprisingly, Twitch will hold the largest share of the market by 2030, registering a CAGR of 21.4% over the next eight years.
The APAC region will command the largest share of the market by 2030 (21.92% CAGR). Meanwhile, the North American sector will register a CAGR of 21.2% over this period, meaning it will be worth $1.12 billion in eight years.
(All information was provided by GlobeNewswire)