Global E-sports Market 2019-2023| Evolution of High-tech Gaming Consoles to Boost the Market Growth| Technavio
LONDON--(BUSINESS WIRE)--Nov 4, 2019--
The global e-sports market size is expected to grow by USD 1.15 billion during 2019-2023 according to the latest market research report by Technavio. However, the market is expected to decelerate on a year-on-year basis. Request a free sample report
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Technavio has announced its latest market research report titled global e-sports market 2019-2023 (Graphic: Business Wire)
New platform launches are driving the e-sports market growth during the forecast period. Currently, several regional and international players are contributing to the growth of the market by launching new e-sports platforms. These new platforms are thus expected to accelerate the growth of the vendors operating in the global market by increasing their revenue flow and expanding their consumer base. Furthermore, new platforms help to increase the market share of the players and offer them a competitive edge over their rivals.
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As per Technavio, the evolution of high-tech gaming consoles will have a positive impact on market growth over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2019-2023.
E-sports Market: Evolution of High-tech Gaming Consoles
The introduction and popularity of gaming consoles, such as Xbox and PlayStation, have led to the development of the modern e-sports industry. Hence, several companies offering PCs have improved their device configuration to support gaming. Also, end-users such as individual gamers, are also using gaming consoles to improve their gaming experience. Hence, companies that offer gaming consoles are launching updated versions of their existing consoles with upgraded and advanced features. The introduction of VR headsets for gaming has also immensely contributed to the technology involved in e-sports. Therefore, evolving technology in the e-sports industry has made the gaming experience better and is driving the global esports market.
“Apart from the evolution of high-tech gaming consoles, other factors such as new partnerships, increase in e-sports betting, new platform launches, rising number of e-sports events, and branding through e-sports are expected to boost the e-sports market growth during the forecast period, ” says a senior analyst at Technavio.
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E-sports Market: Segmentation Analysis
This market research report segments the e-sports market by revenue stream (sponsorships, media rights, advertising, publisher fees, and merchandise and ticket sales), by game genre (multiplayer online battle arena (MOBA), first-person shooter (FPS), real-time strategy (RTS), and others) and geographical regions (North America, APAC, Europe, South America, and MEA).
The North American region led the market in 2018, followed by APAC, Europe, South America, and MEA, respectively. Easy availability of gaming consoles and several new product launches are the key driving factors supporting the increasing interest of youngsters for video games. The growing presence of key players and the rising number of game fans have made North America one of the key regions with a strong potential for esports.
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Some of the key topics covered in the report include:
Five Forces Analysis
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