The Booming Global Esports Industry

esports

As an increasingly popular and accessible pastime, esports are booming worldwide. This electronic sport has grand prize money and the prestige of being crowned champion. Individual players and teams can win millions of dollars in prize money. Winning teams and players can also earn additional funding from endorsements and sponsorships. Intel, for example, has spearheaded the development of stadium-based tournaments. Intel is among the largest sponsors of esports.

esports is a booming global industry

Esports is a rapidly growing global industry. In 2019 alone, revenues from esports will surpass $1 billion. By 2022, that figure is projected to double to $2 billion. Funding for the esports industry comes mostly from sponsorships and sales of media rights. With so much money at stake, professional eAthletes can earn as much as those in physical sports. The best players can earn millions. Eventually, esports will expand globally and culturally to reach a global audience.

It’s an electronic sport

An eSport is a competitive video game in which players compete in a certain game. These games require a certain set of skills, and teams compete in official international competitions. This form of gaming has also gained popularity in the social sciences and other areas. The most popular eSports are League of Legends and Dota 2.

It’s accessible

Gaming, and esports in particular, are embracing more accessibility as an option for people with disabilities. In order to bring these people into the mainstream, more disability-friendly esports competitions have been held in the past. The industry has also made adaptive gaming equipment available to participants who need it. With this change, the industry is now much more inclusive, and disabled gamers have had an easier time breaking into the competitive world.

It’s growing at a CAGR of 35.6%

While the sport is still relatively young, many companies are becoming interested in esports, and a number of non-endemic brands have begun investing in the industry. Companies such as Volkswagen Group and Daimler AG, which owns Mercedes Benz, have partnered with esports organizations. Other non-endemic brands are Nike Inc. and Vivo Communication Technology Co. Ltd., as well as media and technology companies. According to research and market reports, the market for esports has surpassed $2 billion annually.

It’s popular in Europe

While it has long been a favorite among European players, esports are rapidly gaining popularity in many other countries. The Netherlands is the birthplace of the team Liquid, which recently extended its partnership with Marvel. In the UK, esports player Sergio Aguero launched a new organisation. In Ireland, the first eSailing Championship is being held, with the winner playing alongside tour pros.

It’s underdeveloped in Japan

One of the most significant reasons esports is underdeveloped in Japan is the country’s anti-gambling laws. This prohibits professional gamers from holding paid gaming tournaments in Japan. Organizers cannot offer more than 100,000 yen in prize money, and spectators are not allowed to bet on games. Additionally, tournaments cannot be held in private facilities without the permission of the venue. This means that there is a severe shortage of space in Japan for esports.