LONDON– (BUSINESS WIRE) -#Casinoandgaming–The global export market is expected to post CAGR close to 18% during the period 2019-2023, according to the latest market research report by Technavio. However, the market is expected to decelerate on a year-on-year basis.
Currently, several regional and international players are contributing to the growth of the market by launching new esports platforms. These are the most common sources of revenue. Furthermore, new platforms help to increase market share and offer them competitive edge over their rivals. For instance, in June 2019, Viacom announced the launch of NickX eSports platform, a tournament platform for kids using Nickelodeon gaming content.
Similarly, in May 2019, IKON, a new gaming challenge platform, was launched. This new platform supports the League of Legends and allows players to challenge friends and fans. Therefore, the increasing launch of such platforms is expected to drive the market for sports during the forecast period.
As for Technavio, the evolution of high-tech gaming consoles will have a positive impact on the market and contribute to its growth significantly over the forecast period. this global esports market 2019-2023 research report, which will affect market growth over 2019-2023.
Global Esports Market: Evolution of High-Tech Gaming Consoles
The introduction and popularity of gaming consoles, such as Xbox and PlayStation, have led to the development of the modern export industry. Hence, several companies that offer PCs have improved their device configuration to support gaming. Also, end-users such as individual gamers, are using gaming consoles to improve their gaming experience. Hence, companies that offer gaming consoles are launching versions of their existing consoles with upgraded and advanced features. The introduction of VR headsets for gaming has also immensely contributed to the technology involved in esports. Therefore, evolving technology in the export industry has made the gaming experience better and is driving the global exporting market.
"From the evolution of high-tech gaming consoles, the increase in export betting, and the increasing number of exports that are expected to boost market growth during the forecast period," says a senior analyst at Technavio.
Global Esports Market: Segmentation Analysis
This market research report segments the global export market by revenue stream (sponsorship, media rights, advertising, publisher fees, and merchandise and ticket sales), by game genre (MOBA, FPS, RTS, and others) and geographical regions (North America, APAC, Europe, South America, and MEA).
The North American region led the market in 2018, followed by APAC, Europe, South America, and MEA, respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth two to the increasing number of export competitions in the region.
Looking for more information on this market? Request a free sample report
Technavio's sample reports are free of charge and contain multiple sections of the report, such as the market size and forecasts, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and providing actionable insights to help businesses identify market opportunities and develop effective strategies.
With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market research to identify opportunities in existing markets and to assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.
Media & Marketing Executive
US: + 1 844 364 1100
UK: + 44 203 893 3200