Introduction
Esports has taken the world by storm and shows no sign of slowing down. The game sprang up in the 1990s, but only recently began to gain traction courtesy of advances in technology. Advanced internet services provide players with a quality experience during gameplay. The development of mobile esports has made users access the games easily, anywhere, and anytime.
Before delving deeper, you may still be confused about the term “Esports” Esports, sometimes called electronic sports, is a form of organized, highly structured competition using video games. Professional gamers play video games against one another competitively aiming at the final prize. Popular esports are:
The popularity of esports first took place in Asia, then in Europe and America. The growth of esports can be attributed to the increasing availability of online streaming media platforms like Twitch and YouTube Live.
The esports industry is now a multi-billion dollar industry with hundreds of millions of fam across the globe. Many European countries have started broadcasting esports on major channels.
Over the years, esports has become a lucrative and profitable industry. Statistics show that the esports industry’s global market revenue will grow as much as 1.87 billion U.S. dollars in 2025. Huge! In 2022, the global esports market was valued at over 1.38 billion U.S. dollars. Viewers of esports have been on the rise over the years. In 2022, the viewers of esports were about 532 million and it has been predicted to be 640.8 million in 2025.
There are a lot of reasons why the esports industry will continue to soar in 2023. This article delved deeper into five major catalysts in the growth of the esports industry in 2023. Grab a cup of coffee and read through!
5 reasons Esports will continue to grow in 2023.
Accessibility
Unlike traditional sports where the players have to be physically present to play the game, esports is easy to access and set up. All you need to play sports is a gaming device or a smartphone and a strong internet connection. Statistics show that people within the age range of 18-34 tend to play the game more. Now, individuals in this age range have exclusive access to smartphones, gaming devices, and high-speed internet. The platform itself is becoming more accessible to the public. You only need to launch your PC, launch your favourite game, and begin competing in no time from the comfort of your couch. It is said that due to its accessibility, many consider esports to be gender inclusive. This will undoubtedly lead to exponential growth of esports in 2023 and beyond.
Mobile esports.
Traditional esports are games typically played on PC or video game consoles. On the other hand, there’s mobile esports which can be played on a mobile device like a smartphone. Now, mobile esports is gradually taking over the market. Its market value has been soaring over the years worldwide, a trend that is expected to continue in 2023 and beyond. In recent years, RPGs (role-playing games) such as Minecraft have been the top-grossing mobile game genre worldwide, generating $21.9 billion. Mobile esports viewers worldwide amounted to 400 million in 2019 and have been on the rise since then.
The major catalyst for the rise of mobile esports over the years is the prize pool for the tournaments. For instance, the prize pool for the Call of Duty: World Championship was about a million dollars. Huge, right?
Metaverse immersion
Metaverse gives the ability to immerse oneself in a realistic but unreal space. As of now, the only way of viewing or watching sports is through streaming platforms like Twitch and Youtube Live. Take a moment to imagine yourself in a virtual space interacting with other viewers and feeling the intensity of the game like you’re in a live sports arena. Cool right! That’s the power of the metaverse.
Gaming in a metaverse is more realistic than the current VR games available on the market. With metaverse, players will be able to invite one another to play games in a virtual space just like being with your friends in reality. Immersing the metaverse into esports allows greater access to players across the globe. Although the relationship between the metaverse and esports is still in the experimental phase, it will have a substantial effect in the industry.
Esports betting
Like with traditional sports, the audience can place a bet on esports events. Bets can be placed on who wins the match, who wins the tournament, the final score, odd/even bets, and over/under bets. As esports has become increasingly mainstream and widely accessible, bets can be easily placed. Bets can be placed before or during the match. Since young people play esports more, betting is another catalyst for the growth of esports in 2023.
5G technology
For esports players, high speed and stable internet connection are paramount. Therefore, 5G technology is an important catalyst in the growth of the esports industry. With a speed almost 10 times that of 4G, players can expect smooth and uninterrupted gameplay. The capabilities of 5G networks will enable game streaming services on smartphones with quality experience thereby making gaming accessible to a wide range of audiences. It is said that by 2025, 30% of wireless connections will use 5G.
The 5G technology is undoubtedly paramount in the world of esports and gaming.
Apart from these reasons listed above, there are other reasons why esports will continue to grow in 2023. Here are some;
I. It is a great source of entertainment. Young people love things that keep them entertained.
II. It is versatile i.e. there’re plenty of games to choose from.
III. The prize pool is extremely generous. Thus, it serves as a source of income for some individuals.
IV. It’s addictive.
V. It has a lot of social benefits.
Bottom Line
Esports has been evolving since the 1990s into a multi-billion dollar industry. It is no longer a hobby to pass the time, it is now considered a lucrative profession. It actually serves as some professional gamers’ source of income. The world of sports is extremely exciting and this is just the tip of the iceberg. It has a lot to offer to players, fans, and producers. The game has become increasingly popular across all ages, regions, and demographic groups. The esports fan base has been on the rise over the years and this trend is expected to continue in 2023 and beyond.
Major media networks like ESPN, TBS, and SyFy now broadcast esports. Reports have now become increasingly mainstream. It’s fascinating to see games and sports combined into one. In the U.S. over 600 colleges and universities have added esports teams to their sports curriculum. In years, esports will rise to be a similar contender to traditional football. With all these, it is undoubtedly clear that esports is here to stay.
Conclusion
It’s clear that accessibility, mobile esports, and the metaverse will be major catalysts for the industry’s continued growth. The increasing involvement of major corporations and the rise of professional esports leagues are also contributing factors. It will be interesting to see how these developments shape the future of esports. Do you have any other questions about this topic?
