Esports has exploded in popularity over the past few years. Thanks to technological advances, more gamers have access to high-quality gaming technology, allowing them to pursue professional esports careers. This has resulted in an increasingly competitive industry with big prize pools and huge fan bases.
How Esports Industry Evolved?
The growth of esports has been remarkable. According to Newzoo, the global esports market was estimated at $906 million in 2018 and is expected to reach $1.6 billion by 2021. This figure includes not only prize money from tournaments but also revenue from advertising, sponsorship deals, media rights, merchandise sales and other sources.
The number of esports viewers have also grown steadily over the years. In 2018, there were an estimated 380 million viewers worldwide, and that number is expected to grow to 557 million by 2021. This growth has been fuelled by streaming platforms such as Twitch and YouTube Gaming, which give players a way to show off their skills and engage with fans.
The professional esports scene has also grown significantly in recent years. The number of professional players has increased from 200,000 in 2016 to an estimated 500,000 in 2019 and is expected to reach 700,000 by 2021. This means that more people are taking part in professionally organized tournaments and events around the world.
Esports has also become much more mainstream in recent years, with major brands and traditional sports organizations getting involved. The NBA and NFL have both launched official esports leagues, while popular brands such as Coca-Cola, Red Bull and Intel have all become sponsors of various teams or tournaments. This influx of money has allowed for larger prize pools, bigger events and greater exposure for the players.
As more people gain access to high-end gaming technology, the esports industry is likely to continue growing in the years ahead. Whether you’re a fan of watching tournaments or competing yourself, it’s clear that esports is here to stay.
Have Look on Esports Stats:
To get a better sense of just how much bigger esports is becoming, let’s have a look at some of the statistics. According to Newzoo’s 2020 Global Esports Market Report, the esports market was worth $950 million in 2018 and is projected to grow to over $1.8 billion by 2022. This means that it has more than doubled in size since 2017 when it was valued at just $660 million.
The report also notes that there are currently over 454 million esports fans worldwide and this number is expected to exceed 645 million by 2023. This means that the fan base will have grown by an impressive 42% in just 5 years.
On top of that, the industry’s average revenue per fan has grown from $1.46 to $2.83 between 2018 and 2020, highlighting the fact that esports fans are not only more numerous, but more engaged than ever before.
As we can see, the sheer size of the esports industry is growing at an impressive rate and shows no signs of slowing down any time soon. It’s no wonder that more and more people are starting to take notice of this exciting industry.
If you’re interested in learning more about esports, be sure to check out our other articles. We cover everything from the latest news and updates to pro player profiles and tournament previews. So dive in and get ready to join the world of esports!
We hope this article has given you a better understanding of just how big the esports industry is becoming. With an ever-growing fan base and more opportunities for professional gamers, it’s an exciting time to be involved in the industry. So keep your eyes peeled and stay tuned for what’s next. Who knows, you might even be the next big esports star!