NEW YORK, May 12, 2022 /PRNewswire/ — The “E-Sports Market by Geographic (APAC, Europe, North America, South AmericaMEA, APAC, Europe, North America, South Americaand MEA) – Forecast and Analysis 2021-2025” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has been proudly partnering with more than 100 Fortune 500 companies for over 16 years. The e-sports market potential growth difference will be USD 2058.18 mn between 2020 and 2025 .
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The market is fragmented, and the vendors are deploying growth strategies such as to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Activision Blizzard Inc.
- Electronic Arts Inc.
- Epic Games Inc.
- Gfinity plc
- Intergalactic Gaming Ltd.
- Modern Times Group MTG AB
- Nintendo Co. Ltd.
- Take-Two Interactive Software Inc.
- Tencent Holdings Ltd.
- Valve Corp.
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Geographical Market Analysis
APAC will provide maximum growth opportunities in the e-sports market during the forecast period. According to our research, the region will contribute 43% of the global market growth during the forecast period. The prominent growth of the market in APAC can be mainly attributed to the increased introduction of global brands and products in the market, the rising adoption of online gaming, the growing knowledge and awareness of e-sports and their popularity among millennials, and the development of the gaming industry.
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Key Segment Analysis
The MOBA segment will have significant market share growth during the forecast period. MOBA is a game in which teams of individual players control characters and then compete against another team of individual players. Smite, Heroes of the Storm, and League of Legends are popular MOBA games in the global e-sports market.
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Key Market Drivers & Challenges:
Branding through e-sports is driving the global e-sports market growth. Sponsoring an e-sports event is one of the successful branding techniques. Successful brand promotion can provide new revenue opportunities for e-sports events and, in turn, drive the global e-sports market. HTC Corp, Twitch, Intel, Adidas AG, Vodafone Plc, The Coca-Cola Co., and Mercedes-Benz are some of the top sponsors of e-sports events. For instance, in May 2021Over Active Media entered into a multi-year partnership with the Red Bull Gaming Studio.
The growing cost of game development will challenge the growth of the global e-sports market. The demand for various quality enhancements and innovations in game content has increased the cost of game development. Developers need to hire specialized artists for art designing in games, further augmenting production costs. The increasing game development cost is resulting in the high cost for the game franchise, thus creating a challenge for the global e-sports market.
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