It is both surprising and unsurprising to be told that the global esports industry is expected to reach a total value of $1.9 billion in the next five years. The trending aspect of competitive video games has been fairly notable in recent years, but it is still astonishing to note that there is still so much growth left to achieve.
According to a new report from market research and consultancy firm Ovum, the global esports industry had a market value of less than $100 million in 2013. Since then, the figure has increased to a massive $733 million this year.
However, the forecast for the next five years is not only based on the impressive growth that has already been experienced. Several other factors such as revenue from streaming, sponsorship, and ticket sales are expected to enjoy an enormous annual growth that will surpass the current rate.
“The benefits of involvement – whether that be as broadcaster, streamer, infrastructure provider, tech platform, or simply a company eager to tap a youthful demographic with high discretionary spend – could be spectacular. Those looking to enter the fray need to understand where best to make a difference – and they should act quickly,” the report states.
We already have Blizzard preparing the Overwatch League, and Riot Games is currently going through applications for its franchised North American League Championship Series (NA LCS) next year. Both business models have buy-ins set in the millions and are expected to generate annual revenues in the millions as well.
There is Dota 2 with its loyal community raising the largest prize pools in the history of esports. Counter-Strike: Global Offensive (CS:GO) has seen its competitive following grow in recent months. Most recently, PlayerUnknown’s Battlegrounds (PUBG) started peeking for an esports niche as well.
Almost every multiplayer game is interested in offering a competitive environment. The global esports industry is certainly primed and ready to raise the bar in the coming years.