Virtual horse racing: the value of the esports market could reach $5 billion in 2029

Esports has been a fast-growing industry for many years. The latest analytical report by Arizton suggests that the esports market will be worth several billion dollars in a couple of years.

Here's What We Know

Over the next five years, the global esports market will be worth more than $5 billion.

This growth is driven by a huge compound annual growth rate (CAGR) of 17.48%, making esports one of the fastest growing and most profitable industries in the world.

For example, the American football industry boasts an average annual growth rate of around 6.9%, and the global music market is estimated to grow by 7.8% by 2029.

The esports market is currently worth approximately $2 billion.

Source: insider-gaming