Esports Market Witness Tremendous Growth during 2020-2027 as the Technology in Gaming increases

Electronic sports, commonly referred to as eSports, egames, or electronic sports, is a kind of organised competitive video gaming. It primarily consists of teams playing in tournaments for a monetary award. It works in the same way as traditional sports in terms of functionality. Athletes at the highest levels are always striving for the top ranks in their chosen sport or game.

The global esports market is expected to reach a value of US$ 3.73 Bn by 2027 at a CAGR of 20.3% between 2020 and 2027. Beginning in the 1990s, gaming evolved from a casual pastime to a professionally sanctioned sport. Today, competitive professional gaming, often known as eSports, is a soon-to-be $1 billion industry, with tens of millions of players watching tournaments live and a potential Olympic appearance on the horizon. The eSports Market is a modern-day gold rush, with significant annual growth. Esports events are televised on ESPN, TBS, SyFy, and Telemundo, while traditional sports leagues such as the NHL and the NBA have created tournaments and leagues, with NBA and NFL franchise owners taking ownership holdings in esports teams.



The field of competitive, organised video gaming is referred to as eSports. In popular at-home games like Fortnite, League of Legends, Counter-Strike, Call of Duty, Overwatch, and Madden NFL, players from different leagues or teams compete against each other. Millions of fans watch and follow these gamers from all around the world, whether they attend live events or watch them on TV or online. Viewers may watch their favourite gamers play in real time on streaming platforms like Twitch, and this is often where popular players grow their fan bases.

Gamers are competitive by nature. They aspire to be the finest in the world. Winning has been at the centre of what playing video games is all about since 1972, when the winner of the first eSports event won a yearlong subscription to Rolling Stone magazine, to today, when prize pools can reach tens of millions of dollars. eSports Market are also available widely. A traditional sport may require bringing people together in the same physical area, however gaming allows you to play with individuals from all over the world instantly from the comfort of your own home using an internet connection.

As difficult as it may be for fans of traditional sports leagues like the NFL or the NBA to believe, eSports operates in a similar manner at its highest levels. In reality, the NBA staged a draught in April to kick off its new eSports league, which is based on the basketball-themed NBA 2K game series. 102 professional eSports players were selected during the draught, which had all of the pomp and circumstance generally reserved for players on the court.

Mobile gaming has created a huge opportunity for esports Market players, particularly in rising markets like India, China, Vietnam, and Indonesia. In the aforementioned countries, mobile games like PUBG and Garena Free Fire have become extremely popular. According to Sensor Tower data, Garena Free Fire will earn over US$ 300 million in 2020, while PUBG will earn over US$ 3 billion, with India topping the download chart.

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