The Massive Impact of E-Sports
Esports is receiving great attention all around the world. This form of competition carried out through computer games, video games, and smartphone games are considered a sport and is evolving and growing worldwide. Let’s dive into everything from the size of the global esports market to the circumstances of esports in different countries, as well as the network environments such as 5G networks that are enhancing the rising popularity of esports. We’ll take a look at the present and future of esports. As competitive video games continue to integrate into popular culture, global investors, brands, and media outlets are all paying attention. Consumers are as well. In fact, there will be 29.6 million monthly esports viewers in 2022, up 11.5% from 2021, according to our estimates.
The pop-culturalization of the esports industry has helped power the explosions in esports investment and revenue. Esports have hit this stratosphere in large part because of the social component of live streaming and gaming. Video gaming-specific streaming platforms like Twitch and YouTube Gaming give fans a direct connection to the players and teams, while more mainstream socials have allowed those connections to flourish. Certain esports organizations, like FaZe Clan, are also moving aggressively into areas like merchandise, lending their brands more notoriety than if they’d stuck to esports alone.
The esports industry is still on the rise as the calendar flips onto a new page. Its most noteworthy titles are leading the way, even though the most unpredictable era the scene has ever faced is still making its mark on a relatively young industry. As the world hangs in the quasi-balance of the COVID-19 pandemic, the fate of the esports industry remains uncertain. Approaching the third year of pandemic living, though, the effects of these unprecedented times have become part and parcel of esports as a whole. Tournaments have remained mostly digital, fans have been largely restricted from live events, and COVID is still having an immense impact on the various scenes within esports—even two full years after its discovery.
What to expect from the Indian gaming and e-sports industry in 2022?
As we enter 2022, we can only look back and wonder at the meteoric rise online gaming has seen in India in the past two years. While gaming had been witnessing growth, albeit a relatively slow one, before the lockdown, it was during the locked-at-home phase that many across the country not only discovered the joys of gaming but also realized they could make a healthy living out of it. If most reports coming out in the last year are to be believed, India will see even faster growth for the industry in the next few years, and now Bharat is joining in this growth.
India was a sleeping giant till Covid-19 happened, and now we have established ourselves as a market that cannot be ignored; Stakeholders like the brands, investors, authorities, and so on, were just sitting on the fence and observing. But with a market of at least 450 million online gamers, the potential of video games and esports cannot be ignored. The year 2021, has been the inflection point for video games in India.
While esports evolves itself into various business models, Non-fungible token (NFT) will be one big trend to watch out for in 2022. Video Games are the best use case for NFTs, customization of the skins, virtual avatars, in-game items/rewards, etc. all this already exists in video games (so-called metaverse) and is now starting to be converted into NFTs. One of the key drivers for the meteoric growth of Video Games has been live streaming and esports, and such content creators and/IP holders will eventually look at converting the best of gameplays/streaks/moments into NFTs, which not only help increase monetization for content creators, video game developers, etc. but also be a catalyst in terms of retention of fans and users respectively.
The Growth of Esports Industry
Esports’ future will mainly turn into mobile platforms. In 2021, mobile gaming will cover about 45% of the global gaming market. The most common sources creating massive Esports revenues include advertising, event sponsorship, in-game purchases, ticket and merchandise sales. One significant gap in these predictions is the underestimation in the development of the mobile competitive play. This includes app downloads, viewership, and player participation. Projections also estimate that mobile users will drive significant growth in the upcoming years. With Skillz, Ryu Games among the pack pushing the mobile real-money in Esports gaming, we expect the revenue to surpass $2.5 billion by 2022.
While esports has many benefits over conventional sports, their development may not be simple. Acceptance of esports over traditional sports on a social and political level will not be simple and may take years or decades. However, it is fair to conclude that the future is digital and that the future is esports.
This is not to say that it would endanger the development of conventional sports. This simply means they will compete for the same audience, companies, and sponsorships. The growth of esports in the nation will open up many opportunities for the future; in the long term, we may even witness a fusion of the two!