Growing young populations and changing lifestyles have led to increased demand for video games over the past couple of years. In addition, growing engagement activities, formidable investments, increased live streaming of games, and expanding infrastructure for league competitions are major factors driving the esports industry’s growth. The number of esports viewers is expected to increase 11.5% year-over-year to 29.6 million in 2022.
Furthermore, virtual reality products and consumer spending on video content are witnessing rapid growth worldwide. The global esports market is projected to reach $7.13 billion by 2028, registering a CAGR of $25.1%.
