Esports, or electronic sports, is an industry that has been rising exponentially over the past decade. The increased popularity has allowed the industry to be valued at more than $1.4 billion in 2022. However, this is just the beginning of the growth of esports. The industry expects to continue its steady growth in this decade. Here are five reasons why the esports industry will be one of the fastest-growing industries worldwide.
Technological Advancements Mean More And Better Games
One of the most important contributors to the success of the esports industry is the advancement in technology in the past decade. We’ve had the evolution of smartphones which have allowed mobile gaming to exist, and within those newly released games, we have popular esports mobile games such as Mobile Legends, Free Fire, and PUBG Mobile. The esports scene in the mobile gaming space has been rapidly developing and is expected to continue.
The PC gaming space isn’t looking to fall behind either, as we’ve had amazing games such as Call Of Duty: Warzone, Overwatch 2, and Valorant released in the past few years. With the help of technological advancements, these games have incredible and eye-catching graphics, attracting millions of people to try these games out.
The improvement in graphics will also help the esports industry develop, as more and more people may find esports games appealing due to the high-quality graphics these esports games offer.
Esports Is Becoming Entertainment For Pop Culture
One of the most fun parts about esports is watching professional players and teams compete against each other in multi-million dollar tournaments. These tournaments are backed up by massive companies such as Blizzard Entertainment, Riot Games, Epic Games, and Valve Corporation, which have fantastic marketing and advertising potential.
These big-name companies have done an amazing job of integrating pop culture into their respective games. For example, world-famous rapper Travis Scott had a virtual concert in Fortnite, and he even has his own skin in the game now. American Lil Nas X was also seen performing live in the 2022 League of Legends World Championship venue.
Besides watching tournaments and concerts, many teenagers and young adults often spend their free time watching their favorite streamers and content creators play esports games on platforms such as YouTube and Twitch. Most popular personalities such as Tarik, xQc, and Shroud are former professional esports players.
Betting On Esports Has Helped The Industry Greatly
Another massive reason for esports success is the addition of esports betting. Yep, that’s right. Betting sites are now transitioning to esports betting sites, where various esports betting markets are open for the many different esports games.
Betting on sports matches and tournaments is widely known to be famous among sports fans. With the introduction of esports betting, an opportunity is created to introduce these sports betting fans to the world of esports. As a result, many sports fans have begun betting on esports matches, as there are more matches and markets for them to bet on.
Not only are esports bookmakers garnering more people, but they are also sponsoring professional teams and players. The best betting sites for esports such as GG.Bet is supporting esports teams such as Team Vitality and Natus Vincere. These bookmakers are helping upcoming talent improve by paying players salaries and providing boot camps for teams to improve. Sites like Betway also sponsor tournaments such as BLAST Premier, allowing esports fans to witness more top-tier tournaments.
Esports Creates Jobs For People
An essential part of an industry is its availability to provide jobs to people involved. When it comes to esports, the availability of jobs won’t become a problem at all! The industry has dozens of available careers, and the demand for workers is continuously growing.
Professional esports players are making six-figure salaries simply from playing video games! Most top-tier teams also include coaches and even psychologists to ensure their players are in the right mindset. Marketing and social media managers are also needed to maintain a connection between the team and their fans.
But if you’re not into the professional esports space, there are always dozens of opportunities to find work in the content creating space. You could become a Twitch streamer or YouTuber and create content for your following. These content creators need help editing videos and creating graphic design, so video editors and designers are always required.
Esports Is Receiving A Huge Amount Of Investment
For most industries to grow, receiving investments significantly influences whether it succeeds or fails. Regarding esports, investments are flooding in as the industry gains more popularity daily.
Massive brands invest in esports, usually through sponsoring professional organizations. For example, the sports brand Adidas is currently the sponsor of Team Vitality and G2 Esports, two gigantic esports organizations. Honda, the automobile company, has also decided to sponsor North American organization Team Liquid and acts as the first major automobile sponsor in the esports industry.
These large investments aren’t only coming from huge companies, and world-famous celebrities are signing 9-figure deals with esports organizations. Retired basketball legend Shaquille O’Neal signed a $155 million contract with NRG Esports. American rapper Drake and American actor Will Smith have also signed deals with 100Thieves and Gen.G respectively.
Conclusion
In conclusion, the future of the esports industry is bright. Technological advancements have allowed gaming companies to improve graphics quality and release new esports games that attract new audiences. Increased popularity has also resulted in enormous investments from betting sponsors, celebrities, and massive companies. Since the industry is growing, more careers are being created so esports enthusiasts can work in the industry they love.
