On September 26th, Research & Markets released a new report that analyzes the state of the global esports market. According to this study, the global esports market grew from $1.078 billion last year to $1.146 billion this year. Also, the market is expected to increase to $1.572 billion by 2027, registering a compound annual growth rate (CAGR) of 6.48% over the next five years.
This report considered several factors when analyzing the global esports market. Some of the events that will impact the market from 2022 to 2027 include the COVID-19 Pandemic as well as Russia’s invasion of Ukraine.
Many major companies were also mentioned in the report by name. Companies like Activision-Blizzard, EA, Nintendo, and Tencent appeared several times throughout this survey.
Despite their similarities, the global esports market differs greatly from the global gaming market. This is evident from the recent research done by Newzoo which shows that the global gaming market will generate $103.5 billion this year.
(All information was provided by Business Wire and Newzoo)
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