Esports is an organized form of competitive video gaming. It’s a rapidly growing industry similar to the NFL and NBA. It has health benefits as well. It is growing at a 35.6% CAGR and is growing in popularity throughout Europe. Unlike traditional sports like football and basketball, esports do not require expensive equipment or training sessions.
esports is a form of organized competitive video gaming
Esports, or organized competitive video gaming, has its roots in the 1970s, when arcade game players began competing against each other. In the early 2000s, video game tournaments became more mainstream and began to appear on television and the Internet. By 2005, esports had become so popular that it was being covered in mainstream media, including Madden NFL.
Esports is growing in popularity, and more colleges and universities are starting to offer introductory courses to the sport. Some even offer college-level qualifications in esports, such as the AIM Awards, a college qualification programme. Additionally, esports has proven to be an excellent way to improve teamwork skills, improve communication, and even develop strong friendships.
It is an industry like the NFL or NBA
The popularity of esports has been growing in recent years. Some analysts believe the industry could soon be a billion-dollar enterprise. In the meantime, more organizations and individuals are taking up the challenge. Esports is a lucrative and exciting business model and a great way to boost revenues.
Major sports leagues are heavily dependent on television viewership, and esports have captured a considerable portion of those viewers. In fact, the 2016 League of Legends Season 3 World Championship broadcast attracted more viewers than the 2017 Super Bowl, which was streamed on Fox Now for free. NBA commissioner Adam Silver is sure to have taken note that League of Legends has become a popular form of entertainment.
It is growing at a CAGR of 35.6%
Esports are a rapidly growing industry. According to the Global Entertainment & Media Outlook 2021-2025, the U.S. holds the largest share of the market. However, the market is expected to grow across many other countries as well. The Overwatch League and the League of Legends Championship Series are expected to provide significant growth to the esports industry. Both of these events are expected to attract significant investment.
The popularity of esports has become a major business opportunity for broadcasters. The average viewer spends around 100 minutes watching an esports broadcast. However, only about half of these viewers actually play the video game they are watching. Despite this, fans are willing to travel to watch their favorite players, tournaments, and games.
It is popular in Europe
The market for esports has become incredibly popular in Europe. It’s estimated that by 2020, the European esports audience will reach 92 million viewers. This is a significant increase from the 72 million European viewers who watched esports in 2018. Esports have also gained popularity among women. According to a survey, 48% of women identifying themselves as esport fans said they have spent money on esport-related products in the past year.
The European esports market has grown significantly since 2016. By 2023, it is predicted to hit a market value of EUR600 million. The growth is attributed to the fact that Generation Z are increasingly watching video games than traditional live sports. Many of them also want to be content creators and gaming is one of the easiest ways to do that.
It is growing in Asia
According to the Asian Electronic Sports Federation (AESF), esports in Asia are growing at a fast pace. The region’s esports revenues are expected to reach $543.8 million in 2020, a 4.9% increase from the year before. This number could rise even higher in 2021.
The region is home to many esports fans who are passionate about various games. This has made the esports market in the Asia-Pacific region more attractive to foreign companies. In China, for instance, many foreign companies are investing in and endorsing professional gaming teams. These professional players compete in open-access online arenas with other teams. The Alibaba Group, among other large companies, has invested in esports events in the region. Six cities in mainland China are currently vying to become esports hubs.
