With high inclination of youthful demographic towards gaming and rapid penetration of Internet, adoption of eSports has witnessed an unprecedented growth in the recent years. In the latest market intelligence published by Fact.MR, eSports market in Asia Pacific has been envisaged to be bullish over the assessment period, 2018-2028. Increasing popularity of eSports among gamers along with large prizes and awards in eSports events is expected to directly influence the growth of market in the Asia Pacific region. Moreover, the market players are entering into partnership with sports channels and broadcasting media to enhance their visibility in the Asia Pacific eSports market.
Swift proliferation of smartphone users and incessant growth in mobile game market are expected to be the driving factors of eSports market in Asia pacific. Introduction of eSports as an extracurricular activity in school, colleges, and universities is likely to fuel the market in the coming years. Further, eSports are gaining high popularity in developing countries, with advertisers, sponsors, and other investors increasingly funding in eSports events. This has resulted in robust growth of Asia Pacific eSports market. Conversion of pay-to-play games to free-to-play games and development of esporting venues in Asia Pacific nations are anticipated to create lucrative opportunities for eSports market.
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According to the Fact.MR report, the Asia Pacific eSports market is likely to surpass a value of US$ 1,800Mn by 2028-end in terms of revenue. China is expected to maintain its dominance, with nearly seven folds increase in its revenue growth. The Fact.MR’s study foresees wide expansion of Asia Pacific eSports market in India, exhibiting impressive CAGR of 27% during the forecast period. Professional players have been envisaged to be the most dominant end user of eSports, with occasional viewers complementing the growth of market in the Asia Pacific region. Adoption of eSports is estimated to remain consolidated among 16-25 age group over the forecast period.
The Fact.MR study on eSports market also offers global market analysis and forecast. According to the study, the global eSports market is estimated to be valued over US$ 800 Mn in 2018, expanding at extraordinary CAGR of 22.1% over the period of assessment.
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Being an early adopter of high-tech sports, North America will continue to maintain its dominance, accounting for nearly 28% of the global eSports market revenue in 2018. Rapid adoption in Europe and Asia Pacific will possibly escalate the revenue of global eSports market in the near future.
On the basis of device, high traction of global eSports market is gained from smartphones, which is expected to contribute a value over US$ 1,700 Mn by the end of the forecast period. In addition, PCs and tablets & laptops segments are further likely to grow at a quicker pace.
Although Fact.MR maintains a positive outlook of the global eSports market, major challenges associated with underage gambling is expected to create hindrance in market growth. Gambling done by players and viewers in an eSports event and incidence of players using drugs to get good scores will possibly hamper the growth of global eSports market.
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