The exploding eSports marketPosted on: Jan 02, 2019 By smartlaunch in News and trends,
The global eSports market is facing exponential growth as more and more trends contribute to the industry. It is no surprise that mass viewing of single and multi-player electronic games has become a big business.
The global eSports market: Esports takes electronic games it to a whole new level, generating major new sources of revenue for marketers and advertisers. The global audience for eSports is likely to increase rapidly in the coming years. Currently, there are roughly 2,2 billion gamers globally and there is a lot of room for growth. The prizes for eSports tournaments are also increasing. The highest paid eSports players tend to range from 17 to 26 years. But eSports may not just be for young audiences as older generations may hop on board as well. Older audiences may catch on to eSports in the same way they have embraced certain social media platforms.
Traditional sports are embracing eSports: There is a growing influence of eSports in traditional sports institutions. Many current and retired professional athletes are even entering the fray. The world of sport is a business like any other and it needs to evolve to maintain competitiveness and profitability. This new eSports trend allows traditional sports institutions and players to stay relevant. It also connects them directly with younger audiences. It seems many star athletes, franchise owners, advertisers, league managers, and broadcasters have vested interests to enter this new market.
Esports and blockchain: Spin-off industries typically form when a new market reaches a certain scale. Innovators are wasting no time coming up with solutions for the future eSports market. One opportunity that investors should pay attention to is the use of blockchain technology in entertainment and gambling platforms. They allow users, in part, to earn rewards for engaging and competing in their platforms.
Takeaway: It would not be surprising to see highlights of League of Legends, Dota II or Fortnite on TVs of local sports bars in the coming years as eSports enters the mainstream. The growth of eSports appears to be global in nature and could see sustained interest not just from millennials, but older generations as well. Investors should also be keen on spin-off industries that emerge from large growing markets like eSports.
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