The Growth And Future Of eSports
The growth and future of eSports is one of the trends at the for in technology for the future. Read on to see how eSports is growing and how you can earn from eSports.
The Growth And Future Of eSports
E-Sports have experienced massive growth in the past years, and of course, the growth and future of esports have been a bigger concern of the world. A deeper look into some of its current growth can help us guess what its future will be like:
Viewers and Reach
The eSports sector is always ready to accept more people; it will keep getting larger. There are currently over 810 million eSports fans worldwide. By 2023, the industry should generate sales of over $1.5 billion! To prove that this is feasible, between 2016 and 2019 the UK’s eSports market generated over £111.5 million for the country’s economy (eSports News).
E-Sports in Education
In 2020, British eSports and Pearson collaborated to launch the very first eSports BTEC qualification; this has been a huge success. Currently, over 1,800 students are already studying the BTEC in 70 locations throughout the UK. There are only a few courses available, but as the business becomes more popular, more courses will become available.
Why is E-Sports so Popular?
The Live coverage of eSports is aired daily on YouTube, Facebook, and other internet platforms for free. The fans can even communicate with their favorite players while the games are on. Another factor is brand advertisements on eSports. Businesses have begun to market their brands during games to attract a growing number of viewers. This, in turn, is aiding its growth. Some athletes are sponsored by businesses.
The profit from eSports is also another factor. The people who design video games earn a lot of money, and careers boom where there is money. For instance, EA Madden Franchise has sold more than 130 million copies of its video game since it first came out more than 30 years ago, and they have made more than 4 billion USD!
COVID-19 and eSports
The number of viewers increased during the epidemic on all live-streaming websites increased. During the lockdown, people spent a lot of time at home doing nothing, so they used live streaming to pass the time.
How Many People Play E-sports?
Using the standards of Newzoo, there was a 12.3% growth from 2018 to 2019 on an annual basis. According to Newzoo’s 2019 statistics, there were 197 million eSports fans and 200.8 million occasional watchers, making a total of 397.8 million. However, by 2020, it had increased to 220.5 million infrequent viewers and 215.4 million fans, making a combined audience of 435.9 million.
According to Newzoo, the Compound Annual Growth Rate (CAGR) for fans of ESports from 2019 to 2024 is predicted to be about 7.7%. They anticipate a rise in occasional viewers to 291.6 million. In addition, there will be 285.7 million eSports fans, bringing the viewership size to 577.2 million. The rising markets are mainly in the Middle East, Africa, Asia-Pacific, and Latin America. The demand has also grown in nations like Brazil and India.
What is the Future of E-sports In India?
According to estimates, there are more than 300 million players in India. The interest in competitive video games like PlayerUnknown’s Battlegrounds Mobile (PUBG Mobile), FreeFire, Valorant, and multiplayer competitions has surpassed laid-back games.
Investments in eSports in India have also increased massively. According to the Investment Intelligence Study, venture capital companies have invested more than $438 million in Indian gaming businesses since 2021. In Fiscal Year (FY) 2020, the value of all eSports startups in India was $68 million. The Federation of Electronic Sports Associations of India (FEAI) forecasts that the Indian eSports industry will reach a value of over Rs 1100 core by FY25.
What is The Future of Digital Gaming?
The gaming and eSports sectors will adopt live streaming, which will increase the number of spectators and investments. These will draw in new viewers and cultivate a devoted following.
Prize Money and Career Opportunities
The value of prizes, awards, and cash prizes will continue to grow in the foreseeable future. Because of the increase in cash prizes and scholarships, more and more young people will consider careers in online gaming, and professional paths will widen.
What Will The Future Of Gaming Look Like?
In the future, gaming will experience a change in these areas: online gaming, metaverse, synthetic intelligence, virtual world, high-quality images, and virtual reality.
Virtual Reality
Virtual reality has been promising gamers an immersive environment for years. However, the technology has taken a while to fulfill that promise. Ben Kuchera of Polygon said it better: “VR has been roughly eight years away from some form of breakthrough.” Although virtual reality hasn’t fulfilled its promises, internet giants like Facebook and Sony are attempting to progress by creating VR devices and games. The future of virtual reality promises to be better.
What Will Gaming Look Like In 2030?
Vice President and General Manager of Google Stadia, Phil Harrison has many ideas about what 2030 will hold.
“In 2030, I believe the gaming market will expand…streaming will be the unifying technology that enables everyone to access all of their desired material on any desired screen… Artificial intelligence, machine learning, and other related technologies will significantly influence game design in the future… Games will also perform better visually than movies…”
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Frequently Asked Questions
Will e-Sports Replace Sports?
Yes. If social media can take over letter writing, and meetings are now mainly held on Video apps and Spaces, then eSports will get there.
Do e-Sports Have Stable Jobs?
E-sports is whatever you want it to be. The overall number of E-Sports employment increased by 87% in 2019, and the entire sector income is rising by an average of 23% every year.
Is e-Sports A Good Option?
It is. You will make a respectable income by consistently learning new things and improving your expertise in any area of e-Sports. E-Sports is also ripe with consultancy and business prospects.
Is There A Career In e-Sports?
Yes. Many individuals pursue e-Sports professionally, so go for it wholeheartedly.
Are e-Sports Profitable?
Yes. E-Sport teams make money through sponsorships, merchandising, streaming and content development, and tournament prize money.
Is There a Future In eSports?
If you carefully read this article, you should be able to answer this. There is a future in eSports. Games are being streamed online, game graphics are being improved, game technology is being expanded, and there is the current talk of the Metaverse for gamers. The future is very rich with diverse possibilities that everyone can leverage.
CONCLUSION
Games have slowly evolved from physical activities. We can now get immersed in the world and play with fellow humans and avatars. Investments in this sector are growing, and there is a lot of money to be made. If you haven’t found your passion yet, you might consider delving into the world of gaming. You can put your programming, graphic, or influencing skills to good use. The gaming sector is bright with possibilities, but its future is even brighter, and will only keep growing.
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January 27, 2024 at 9:41 pm