What Are Esports And Where Is The Industry Going? Everything You Need To Know

Loading...
Loading...

In recent times, esports have been in everyone’s mouths and minds: the esports industry projected to reach $5.75 billion by 2030 also draws in multi-million-people audiences.

However, if you're not quite sure what esports are and what they represent, you're reading the right article. Find out everything you need to know below.

What Are Esports?

Esports, short for electronic sports, are a form of competition using video games. Esports often take the form of organized, multiplayer video game competitions, particularly between professional players, individually or as teams.

See also: Do You Want to Become an Esports Pro? These 5 Tips Can Help

While organized competitions have long been a part of video game culture, their popularity increased hugely from 2010 onwards, thanks to live streaming.

Which are the most common video game genres related to esports?

Multiplayer online battle arena, first-person shooter, fighting, card, battle royales, and real-time strategy games.

Loading...
Loading...

How Does The Esports Scene Work?

According to Newzoo, a gaming industry statistics company, the global audience for esports is estimated to reach 641 million by 2025. That’s why it's no surprise that tournaments, teams, and professional players attract huge sponsorships with multinational brands like Coca-Cola COKE, Mercedes MBGYY, BMW BMWYY, and Logitech LOGI.

See also: The Best In eSports In 2022: Riot Games, 'Valorant' And All Of The Winners Of The eSports Awards 2022

You should also know that esports tournaments are built around specific games such as Tencent’s TCEHY "Valorant" and "LoL;" "Dota 2;" Epic Games’ "Fortnite;" "Counter-Strike;" and Activision-Blizzard’s ATVI "Overwatch."

Moreover, the competitions usually take place in large stadiums with big screens for the audience to follow the game, and the matches are broadcasted live over streaming platforms as well.

The Future Of The Esports Industry: Where Does It Take Us?

A recent report from GlobalData arrived at the conclusion that the esports scene needs an international governing body, like those found in traditional sports.

This is because, according to Verdict, one of the main challenges of the industry is accomplishing uniformity, as most esports events are governed individually by game publishers. Thus, there are no clear rules for every game, resulting in ambiguity for the esports teams and players.

See also: Riot Updates Scheduling Strategy For LoL, Valorant; Location Of Next LoL Worlds Leaked

Other challenges the industry faces are “diversifying its audience, demonstrating its ability to provide a return on investment, and providing a process for converting amateur gamers into professional athletes.”

Stay tuned on all developments of this industry on Benzinga Gaming.

Nuestro contenido en Español:

Photo by Yan Krukov on Pexels

Loading...
Loading...
Posted In: EntertainmentGamingSportsGenerale-sportseSportsvideo gamesvideogames
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...