Esports Market – Expansive Coverage on the Latest Developments in the Market

Increasing Number of Video Games and their Growing Popularity Bolsters Growth in Esports Market

Increase in the number of video games as well as the growing inclination of consumers towards watching live streaming of various tournaments of sports are likely to support the expansion of the global esports market in coming years. Products in the global esports market can be defined as types of rivalry using the video games such as multiplayer and coordinated rivalries between proficient players, both as groups or as individuals. Some of the other major drivers for the global esports market include rising live telecasting of the sports tournaments, expanding crows reaches, imposing speculations, commitment exercises, and expanding the framework for friendly alliance competitions. 

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Some of the major incumbent players operating within the global esports market include Modern Times Group MTG AB, Valve Corp., Gfinity PLC, Blizzard Inc., Tencent Holdings Ltd., Take Two Interactive Software Inc., Epic Games Inc., Electronic Arts Inc., Nintendo Co. Ltd., and Intergalactic Gaming Ltd., among others. The global esports market experiences a highly competitive landscape owing to rising number of joint ventures as well as mergers and acquisitions by industry players. Furthermore, players in the global esports market are also seen investing in advertising strategies and using digital marketing techniques to engage more screens of online organized tournaments. For example, in 2018, Activision Blizzard, Inc. launched ‘Overwatch League’ which provides better infrastructure as well as enhanced monetization opportunities. Furthermore, in 2017, Riot Games launched ‘League of Legends’ in North America and Europe. This provided players with a structured format for hosting online tournaments. 

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Asia Pacific Dominates the Esports Market

Asia Pacific dominated the global esports market, with China emerging as the leading nation with highest share in the regional industry. Key trends motivating the advancement of the global esports market in Asia Pacific include rising popularity of esports among regional youth population and increasing government support for developing sports institutions, organizing esports events and activities, and infrastructural development.