Esports industry to reach USD 3 billion by 2025Posted on: Jul 15, 2019 By smartlaunch in News and trends,
According to ResearchandMarkets.com, esports is expected to grow with a 20% compound annual growth rate between 2019 and 2025.
The global esports market is likely to exceed a total revenue of over USD 1 billion for the first time this year, as it’s experiencing year-on-year growth of over 25%. According to Statista, the market generated USD 865 million in 2018.
Broadcasting rights have become a key source of revenue in esports with television networks like ESPN and ABC airing esports events alongside social media platforms like Twitch and YouTube.
The growth has also extended to sponsorships. The field is by far esports’ strongest revenue stream, as it contributes to almost half of the total market revenue.
Asia Pacific is one of the fastest-growing markets, with esports flourishing in China, Japan, South Korea, and Australia. North America is also generating a major share of revenue to the global esports market.
The vast majority of esports’ audience is male viewers aged 20-35.
However, ResearchandMarkets.com states that esports’ growth is mainly driven by cloud gaming and mobile gaming. This makes matters a bit cloudy in regards to how much of that USD 3 billion is actually being funneled towards esports organizations, players, and tournament organizers.
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