Internet, Communications & Technology (ICT)
Report Code:
Published Date:

The global esports market is worth 1.98 billion in 2022 and is supposed to rise in the upcoming forecasting period of 2023-2033 by 19%.

The increasing scope and application of esports all over the world is due to technological advancement and wide usage of the internet in the current scenario . The increase in internet usage has also increased people's awareness about various kinds of technology. Esports has bought a new revolution in the virtual gaming field through its advanced applications and high-quality gaming technology.

The companies operating within esports are undergoing mergers, collaboration, acquisition, long-term contracts, and service agreements to increase their global footprint. For instance, Loco has cheaper internet and UPI and an online gaming industry that will be accessible to every Indian citizen. The acquisition was in line with the efforts taken by several other corporations. Furthermore, notable investment towards research and development to launch new and innovative services that support operational integration at multiple levels is also practiced by industry stakeholders.

According to the experts of cloud technology, esports scope will rise over a period of time. Major things that make this market highly versatile and productive are its cost-efficient technology, less requirement of space and storage, and provide a high-quality gaming experience with excellent graphics and seamless procedures involved in the management of the game But still, there are a few drawbacks in the cloud gaming some of them are privacy and security issues which are faced by users usually. Second is the high dependency on internet usage, and without having a proper and stable internet connection, users cannot enjoy esports gaming. Other drawbacks are increasing addiction, gambling, corruption, and other mental health issues. Many companies are merging to cope with these issues, and such collaboration and geopolitical support surge business opportunities within the esports market's European and Middle Eastern regions.

The esports gaming market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In line with the analyzed region, the Asia-Pacific region will witness the highest market share, followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa. Quick adoption of new technologies, support by organizations and regional governments towards integrating high-definition data and risk management, and major industry players within the region are primary factors supporting market potential within the North American region. The major companies operating within the market are Activision Blizzard Inc., Electronics Arts, Game Loft SC, Loco, Modern Times Group, NVIDIA Corporation, Riot Games Inc., Sony Group Corporation, Twitch Interacting Inc., and Tencent Holdings Limited.

Related Reports

No items found.
Dhvanil Dave
Quadrant Market Insights