28 Dec, 2021
Recently, the American analytical company Acumen Research and Consulting (ARC) published a study, according to which the global sports market will reach more than 7 billion dollars by 2028, if the current annual growth rate of more than 25% is maintained.
The eSports market is growing rapidly thanks to the dramatic increase in the number of online players. The spread of the COVID-19 pandemic in 2020 had a significant impact on this: the game quickly became one of the most popular forms of entertainment, and the global export market amounted to 1,215,600,000 USD.
The results of the study showed that the growth of the eSports market worldwide was due to the growing popularity of online video games and streaming, as well as the popularity of smartphones and the strong interest in online games.
As of 2020, there were 2.69 billion mobile gamers worldwide. Global online platforms - Facebook, Youtube and Twitch, which allow interested parties to gain additional followers and increase income - have contributed to the growth of the market.
Consumers also started spending more on online games, which led to a sharp growth in the gaming business industry. The development and refinement of the market has created great opportunities and growth prospects for new streamers, game developers and event organizers.
Experts believe that increased investment in the industry in the period 2021-2028 will further develop the market: for example, last year, the world leader in online games, Tencent, invested $ 90 million in Pocket Gems in 126 million Glu Mobile.
In terms of profitability, analysts say sponsorships will dominate 2020, with tech giants such as Nvidia and Intel signing sponsorship deals with eSports leagues and teams.
Due to the huge popularity of mobile games, Apple, One Plus and Samsung entered the market to sponsor both small and large scale events. This trend is likely to continue in the coming years.
Notably, North America leads the way in sports, with the survey showing that the United States is home to the largest share of gamers and video game enthusiasts. In addition, the launch of new technologies and the production of the games themselves mainly take place in this continent, which also stimulates the growth of the regional market.
Nevertheless, the number of eSports competitions in China, India and other Southeast Asian countries is increasing, and analysts recommend focusing on the Asia-Pacific region in the coming years. Experts believe that in 2021-2028, the Asia-Pacific region will be dominant, where the gaming industry will grow at a rapid pace.