Global esports market value to surpass $5 billion in 2028, says Emergen Research

The global esports market reached $1.17 billion (€0.98 billion) in 2020 and is expected to hit a valuation of $5.2 billion (€4.38 billion) in 2028, according to new predictions from Emergen Research.

A rise in the popularity of video games and rapid growth of live esports coverage platforms are expected to be major factors driving market revenue growth.

Additionally, increases in the popularity of gaming – primarily for amusement – as a result of the COVID pandemic is expected to be a key factor to augment revenue growth of the global esports market during the forecast period.

An increasing number of individuals are said to watch esports videos and tournaments as this has become more accessible due to increasing connectivity and the expansion of reach and coverage.

“Esports broadcasters utilize such sites to broadcast live coverage of competitions and their own games”, reports Emergen, and “as a result, fans can easily attend their favourite tournaments and connect with their favourite esports players. Furthermore, viewership and broadcasters on these platforms have increased significantly in the recent past as a result”.

In less positive news, especially for proponents of esports betting, Emergen expects gaming and betting-related risks, as well as the lack of standardization, to hamper the global esports market “to some extent”, and esports may not be recommended for individuals below a certain age.

“Esports indulgence results in longer screen exposure, and some experts indicate that the aggressive nature of some video games can have psychological effects on gamers of varying age groups”, adds the research company.

Regarding the regions where esports will register the fast growth, Emergen identifies North America as leading the way during the forecast period.