The Booming Growth of the eSports Industry

The Rise of eSports Industry

The world of sports has drastically changed over the past decade, with the introduction of virtual gaming competitions popularly known as esports. Unlike traditional sports, these competitions do not require physical exertion but a lot of mental and strategic ability in various online games such as League of Legends, Dota 2, Fortnite, PlayerUnknown’s Battlegrounds (PUBG), and many others.

Why has eSports become so popular?

The growth of the esports industry is due to several reasons. Firstly, it has the ability to reach a vast audience from all walks of life, including those who may not typically be inclined to traditional sports. Secondly, the increasing interest in technology and video games among youngster has fuelled the rapid expansion of esports.

Staggering Figures

The eSports industry is growing at an unprecedented rate and the figures show it. According to Newzoo, a global market intelligence firm, the esports industry was worth $194 million in 2014 and is predicted to grow to $1.5 billion by 2020. There are 300 million fans who watch esports globally and in 2019, over $211 million was awarded in esports prizes.

Future of eSports

The future of esports looks bright, with an increasing number of games being developed specifically for competitive play. Additionally, major companies like Coca-Cola, Mastercard, and Adidas have caught on to the trend, investing in esports, and further propelling the industry forward.

The Bottom Line

Esports is soon going to be a force to be reckoned with in the world of sports. As the industry continues to grow, players, organizers and investors cannot help but be optimistic and excited for the future.