The worldwide esports market is anticipated to develop throughout the course of the projected period as video game popularity rises. With the release of cutting-edge products from manufacturers of video game consoles like Microsoft, Sony Interactive Entertainment, Nintendo, and others, video games have become immensely popular throughout the years. The video game industry is quickly transitioning from a casual pastime to a professional job field. In actuality, esports has experienced comparable growth and fixation as traditional sports. International corporations are making sizable investments and providing lucrative sponsors for the worldwide organisation of massive esports competitions. Additionally, a lot of famous people support these competitions, with live streaming serving as the primary viewing option. Because of this, interest in esports and related items is rising quickly. As a result, during the time of forecasting, these variables are anticipated to fuel market growth for esports worldwide. Over the projected period, academic gaming courses offered by colleges are anticipated to drive the growth of the global esports market. Although playing video games was once thought of as a casual hobby, many aspiring gamers now see it as a viable alternative for a professional career.
According to Coherent Market Insights, The global Esports Market is anticipated to grow at a CAGR of 20.3% from 2020 to 2027, reaching a value of US$ 3.73 billion.
Major Players in the Esports Industry:
1. Activision Blizzard, Inc.
The company was started in 2008 and is based in Santa Monica, California, United States. The company's products span a variety of game genres, such as strategy, first-person action, sports, racing, role-playing, and music-based games. Global customer service is provided by Activision Blizzard. To power innovative player experiences, Activision Blizzard, Inc. and Google Inc. engaged into a multi-year strategic alliance in January 2020.
2. NVIDIA Corporation
The business was founded in 1993 and is based in Santa Clara, California, United States. The NVIDIA Corporation creates, develops, and sells 3D graphics chips and associated software. The business sells products that give the mainstream personal computer market interactive 3D graphics. Nvidia reportedly intended to establish a new research facility in Yerevan, Armenia, in April 2022. Nvidia's Drive Thor, a new generation automotive-grade semiconductor, was introduced in September 2022.
3. Valve Corporation
The company was started in 1996 and is located in Bellevue, Washington, United States. A software firm is Valve Corporation. The business creates and releases video games. A VR game called Half-Life: Alyx was launched by Valve in March 2020. It was praised and dubbed the first killer app for VR.
4. Riot Games, Inc.
The company was founded in 2006 and is located in West Los Angeles, California, United States. The provider of games provides action, adventure, casual, and multiplayer options. Hypixel Studios, which Riot had been funding in over the past 18 months to help them produce Hytale, a voxel-based sandbox game, was acquired by Riot in April 2020.
5. Epic Games, Inc.
The business was founded in 1991 and is based in Cary, North Carolina, United States. High-end action video games for consoles, personal computers, and mobile devices are created, produced, and sold by the company. The Tonic Games Group, which is made up of the publishers Mediatonic and Fortitude Games, was confirmed by Epic to be up for sale in March 2021. RAD Game Tools was purchased by Epic in January 2021.
6. Tencent Holding Limited
The company was started in 1998 and is based in Shenzhen, China. A provider of online services and platforms is Tencent Holdings Ltd. In Kuala Lumpur, Malaysia, Tencent purchased the video-on-demand provider iflix on June 29, 2020. Tencent chose Singapore as its base in Asia in September 2020, joining rivals ByteDance and Alibaba in the drive to strengthen their local footprint in the wake of issues in India and the US.
7. Gameloft SE
The company was founded in 1999 and is based in Paris, France. Gameloft S.E. is a company that creates video games. For smartphones, tablets, and computers, the company creates action, card, puzzle, adventure, and racing games.
Definition: Video game sports competitions are called esports, often known as e-sports. The same game has competitors from many teams. Many popular video games, including Fortnite, Counter-Strike, League of Legends, Call of Duty, and others, feature competitive play between opposing teams.
