The global esports market was valued at USD 2,008.4 million in 2021. It is expected to expand at a compound annual growth rate (CAGR) of 21.9% from 2022 to 2030. Increasing live streaming of games, formidable investments, rising audience reach, engagement activities, and infrastructure for league tournaments are the factors influencing the market growth. The profitable opportunities created by increasing professionalization in the industry for influencers, gamers, event organizers, and game developers benefit the market.
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Millennials consider esports a professional career option, owing to the increasing popularity of gaming tournaments, one-to-one sponsorships, streaming revenues, and impressive international prize pools. Additionally, colleges and universities have started providing dedicated esports programs to develop skilled professionals.
