Source Did you know that the global e-sports market set to touch the $1.1billion mark in the ongoing year? It is indeed, true. And that’s not all. The online domain demand is growing at a staggering pace, with a yearly growth of more than 15 percent. The worldwide e-sports audience would rise to the mark of approximately 500 million, according to the estimates recently put forth by Newzoo.
The e-sports have been gaining momentum for the past three decades but mainly gained attention a few years ago. In 2016, the online competitionorganized in Chicago drew 43 million people. It was the final event of the League of Legends, garnering more attention than a conventional game. And, experts suggest e-sports could surpass all sports domains in the coming years.
The estimates might come as a surprise, but it is not as surprising if we look at a few factors. Firstly, the increasing accessibility of the Internet is the driving cause of the online domain’s boost. Secondly, smartphones are becoming more common, touching newer heights as each day passes by. Third, the circumstances are changing around the globe, pushing people into new avenues during the lockdown.
But the question that stands undeterred is whether or not e-sports could surpass the traditional gaming. In simpler words, will the former emerge as a new major league sport? That’s an important question and needs a little bit of elaboration. And, that’s what we’ll do in this article. Let’s analyze if e-sports will be dominating the gaming world in the points below.
- Online Audience
Several factors are driving the world to the online domain. In addition to the e-sports enthusiasts and occasional visitors, the online world attracts an influx of people. It is due to the online advertisers. They like to invest in their favorite players participating in major leagues. They increasingly take part in esports betting and secure ad slots on the websites. Another way it gains the momentum is through the participation of the users. The spectator events allow individuals a participant-like experience, thus increasing the numbers.
- Online Atmosphere
The single most important thing that the e-sports enthusiasts pin hope on is the changing atmosphere that the new domain offers. There is a factor of accessibility that comes along with online gaming. You don’t have to be seated for a multitude of hours at an auditorium, yearning to get a glimpse of favorite players. Secondly, streaming services allow millions of people to attach to something they love. Psychologically speaking, it gives all the spectators the chance to have an altogether different experience related to gaming. And such a changing atmosphere can change the face of gaming forever.
- The Interactional Aspect
Understandably, many sports giants have stepped into the online gaming territory, but this primarily belongs to the streaming services. And, there’s a lot to offer to the spectators and gamers on an excellent streaming service than we think. Let us understand it from another perspective. Can you recall playing video games with your friends at a game counter or on a network? The same is the case if considering what e-sports have to offer. When players or spectators interact, it provides them a tremendous experience of participation. When this aspect of the gaming phenomenon, the results are monumental.
- The Business Prospect
An extraordinary aspect of online gaming and why e-sports have a brighter future is its business prospects. While the major players have entered the market, streaming services will continue to have their share. Take the example of Twitch, where elite gamers helped the streaming platform garner less than $60 million in 2015. It was able to earn this much through subscriptions and the advertising revenue. Now, look at it from a wider angle. The gaming domain offers a competitive environment, coupled with genuine user interest. When more streaming platforms enter the industry, it’ll attract more significant business and money.
- Generational Aspects
The reason why the e-sports continue to grow exponentially is that it offers the new generation a way of participation. The age we are talking about is well-developed using video platforms and flying drones. In terms of e-sports, they find a more profound sense of connectivity with the whole idea and could relate to it firmly. In other words, the gaming domain brings the Gen-Z and the millennial on a platform with a standard set of values. This aspect of gaming that addresses generational needs is another primary reason for the popularity. And, doubtlessly, the trend is set to gain a further spike in upcoming days.
Then there is a factor of purging of emotions attached to the game. If you look at it deeply, online gaming is not just a sports platform, but a way of catharsis too. It allows the young men and women, includes those who get marginalized, to get the much-needed appreciation. This sense of acknowledgment enables them to enjoy the freedom they crave and the company they enjoy.
- Prize Pool Growth
Another major factor serving as the magnet for e-sports and the entire online gaming industry is the rewards. As human beings, we all need some compensation to accomplish something substantial, and e-sports provides that. For a general user or a novice entering the gaming area, watching the elite gamers play is desirable. They aspire to be one of them and become all-time successful players so they can inspire others.
For streaming companies and gaming platforms, it’s the opportunity to doan extraordinary business. We can estimate user participation from the fact that the prize pool last year saw a 28 percent increase. The awards were worth $211 million, proving there is a considerable business in online gaming.
Isolation isn’t as bad as it seemed, and that’s what millions around the world realized while living behind closed doors. If we talk in the e-sports sense, isolation can be rewarding too. That’s what happens when we become active e-sports players or spectators. Thepace at which the gaming industry is growing and people are participating is evidence that it’s the gaming future. In that sense, e-sports certainly seem to be the new major league sport.