There has been a significant movement toward online gaming, as well as a rise in esports popularity. The worldwide Esports market has expanded due to an increase in events and tournaments. However, a lack of uniformity in online gaming events, as well as internet risks (such as gambling), are impeding industry expansion.
On the other hand, a surge in the number of tournaments and events with large cash rewards for winning and runner-up teams will provide investment possibilities in the future years.
On-demand streaming accounted for the biggest share in 2020, accounting for three-fifths of the worldwide Esports market, and is expected to continue its lead position over the forecast period. The segment's rise may be ascribed to the several benefits given by streaming systems, such as gaming quality, customizability, and secure gaming IDs. Furthermore, the live category is predicted to increase at the fastest rate of 19.5 percent between 2021 and 2030, given to its low cost of operation and ease of broadcasting.
In terms of 2020 revenue, Asia-Pacific, followed by North America, held the largest market share, accounting for about two-fifths of the worldwide Esports industry. Furthermore, the same area is predicted to see the largest CAGR increase of 19.5 percent from 2021 to 2030, owing mostly to robust technical innovation in the gaming sector. North America, LAMEA, and Europe are also covered in the research.