According to the business intelligence report titled ‘Global Esports Market Size study, by Revenue Source (Sponsorship, Advertising, Merchandise & Tickets, Publisher Fees, Media Rights), and Regional Forecasts 2020-2027’, available with Market Study Report, global esports market accrued USD 1.1 billion in 2019 and is speculated to reach USD 6.31 billion by 2027, growing at a yearly rate of 24.4% between 2020-2027.
 

Expanding audience reach, huge investments from international brands, and increasing generation of opportunities for gamers, event organizers, game developers, and influencers will boost global esports market expansion.
 

For the unversed, esports refers to the field of organized video gaming. In this sphere, gamers and professional players from across the world participate in gaming tournaments online either from their homes or anywhere else. Millions of viewers watch these tournaments live on the internet or television.
 

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A rise in live streaming of gaming events will result in industry growth. Citing an instance, Twitch paid USD 90 million to Overwatch League for exclusive digital broadcasting rights in Korean, French, and English.
 

Introduction of curriculum for esports, coupled with Gen Y viewing esports as a viable career option will also facilate global esports industry proliferation. On the other hand, limited availability of infrastructure, and merely countable contenders in the field will inhibit market growth over the analysis timeframe.
 

The report examines the market space at a granular level and provides market share and growth rate predictions of each segment and region over the forecast duration. Particulars about sales amassed, market share captured, and revenue garnered are also included.
 

Based on revenue source, the market sphere is bifurcated into sponsorship, media rights, advertising, publisher fees, and merchandise & tickets.
 

Regionally speaking, North America held majority of the global esports industry share in the recent past due to involvement of streaming platforms, TV networks, players, franchises, and developers. Meanwhile, Asia Pacific market is projected to grow rapidly between 2020-2027, owing to rising internet usage, and expansion of mobile gaming sector.
 

Key players profiled in the research document are Modern Times Group, Intel Corporation, Valve Corporation, HTC Corporation, Tencent Holdings Ltd., Nintendo Co. Ltd., Activision Blizzard Inc., Electronic Arts Inc., Gameloft SE, and Nvidia Corporation.
 

These companies have taken strategic decisions like partnerships, alliances, product launches, and mergers & acquisitions to maximize profits and hold a significant share in the market sphere.