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Over the past few years, professional gaming has become a multi-billion dollar industry. eSports has gained immense popularity, thanks to the increasing number of online viewers, sponsors, and investment opportunities.
What is esports?
ESports is essentially competitive video gaming played by professional athletes, who compete against each other in organized tournaments. These athletes comprise teams that are sponsored by huge corporations and compete against each other for substantial prize pools.
The Popularity of eSports
In 2020, the eSports industry was valued at $1.08 billion, with an expected 27 percent year-over-year growth. The industry is rich in investment opportunities and has attracted several non-endemic sponsors, including car manufacturers, food chains, and much more.
The Future of eSports
As per industry experts, the growth potential of the eSports industry is colossal. It is anticipated that by 2023, the industry’s value will jump to $1.6 billion. The increasing number of gamer viewers and participants indicates that this industry will continue to grow, with multi-billion dollar valuation by this decade’s end.
ESports has become one of the fastest-growing industries in the world. With a rapidly increasing market valuation, investment opportunities, and increasing numbers of followers, there is no doubt about it reaching its full potential.