SPONSOR: Enthusiast Gaming Holdings Inc. (TSX-V: EGLX) Uniting gaming communities with 80 owned and affiliated websites, currently reaching over 75 million monthly visitors. The company partial 2018 reported revenue of $7.4 million representing a 625% increase over the same period in 2017.
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Video Game Competitions on a Rise; Companies Spot Lucrative Opportunities in North America, says FMI Study
- The global Esports market is expected to exhibit a significant growth owing to various factors such as the continued deployment of eSports in leading universities and the increasing number of eSports initiatives driven by the growing consumer preference shift.
- The younger generation is increasingly attracted to virtual gaming thereby strengthening the future scope of the eSports market.
- “Media companies are giving greater preference to the coverage of eSports, thereby contributing to its increasing awareness amongst consumers. This is expected to create greater demand for eSports among consumersâ€, Senior Analyst, Future Market Insights.
The global video game competitions market has reflected a significant growth over the recent years. The visible growth exhibited by the video game industry has contributed to an increase in the number of video game competitions and tournaments. This is further fostered by the expanding technology that acts as a catalyst to the expansion of video content, virtual reality, products, special eSports events, and most prominently video game competitions and tournaments. Future Market Insights (FMI) in its recent market intelligence report pertaining to the video game competitions market provides a holistic overview of the key trends shaping the fortune of businesses conducting video game competitions through eSports programs.
According to the FMI study, the popularity of video game competitions is expected to witness a significant rise as the millennials are opting for virtual gaming compared to the conventional sports formats. Various colleges and institutions are looking forward to initiating video game competitions for their students. An addition in this line is the Alma College that stated that it would add team video game competitions to its offerings of intercollegiate athletics. The college would be able to attract top students with the help of such team video game competitions while providing innovative ways for students to excel professionally and academically.
FMI unveils that the video game competitions landscape is expected to register considerable growth with the various eSports programs being launched across the globe. The eSports market has witnessed major profitability owing to the increasing proliferation of video game competitions.
ESports Audience Continue to Grow Steadily as Companies Focus on Prominent Coverage of such Events
The global Esports market is expected to exhibit a significant growth owing to various factors such as the continued deployment of eSports in leading universities and the increasing number of eSports initiatives driven by the growing consumer preference shift. The younger generation is increasingly attracted to virtual gaming thereby strengthening the future scope of the eSports market. The extensive research study on the eSports landscape presented by Future Market Insights (FMI), covers the major developments witnessed in the eSports landscape.
“Media companies are giving greater preference to the coverage of eSports, thereby contributing to its increasing awareness amongst consumers. This is expected to create greater demand for eSports among consumersâ€, Senior Analyst, Future Market Insights.
For instance, a recognized eSports organizer and producer, ESL entered into a partnership with broadcast companies in China, Huomao and Huya, wherein the companies would gain an equal share of media rights of the ESL events that would be conducted in 2019.
Recognized companies are sighting notable opportunities in the eSports market, such as NASCAR which is preparing for its new eSports league called the eNASCAR Heat Pro League, and several others including NFL, NBA, MLS’ and NHL, have also moved into the eSports business. FMI study, therefore, asserts that eSports would remain a profitable business for companies.
The research study uncovers various opportunistic avenues offered by the eSports market, where emerging players could undertake key strategies to attain greater market presence.
Source: http://www.keepfacts.com/technology/344/video-game-competitions-on-a-rise-companies-spot-lucrative-opportunities-in-north-america-says-fmi-study-2/