An Innovation Perspective on Esports Market and Its Implications

Esports or electronic sports are a group of sports played online via video games. Each team or individual competes in various popular online games and sponsors compete for a bigger share of the global audience. Esports market is home to intense competitions which increasingly take place in front of a live audience to build and measure audience loyalty.

These sports competitions are becoming increasingly popular in recent times. According to recent estimates, Esports market caters to over 380 million audience online every year. North America and China are home to some major players in the esports market. A sizeable share of the total revenue in the esports market is generated from these two regions. Europe is also a prominent market.

The revenue model in esports market works in a similar manner as in traditional sporting competitions. Most important revenue streams include sponsorships, advertising, publisher fees, ticket sales, and merchandise.

The most popular genres in esports market culture are first-person shooter (FPS), real-time strategy (RTS), battle royale games and fighting, and multiplayer online battle arena (MOBA). Popular games for esports include FPS titles Counter-Strike and Call of Duty, MOBA titles like Dota 2, and League of Legends, and tactical shooters like Rainbow Six Siege and CrossFire.

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YouTube and Twitch have become central to driving esports market worldwide.  Major league gaming in esports has reported 85% male viewership and 15% female viewership. Despite the skewed ratio, several prominent female personalities within esports are hopeful about the bright opportunities for female gamers. Recently, first esports arena opened in Santa Ana, California. It is the U.S. first dedicated esports facility.

Globally, the demand for video games and online video games has grown largely. People across the globe are now taking huge interest in esports and investing their time and money in it. These factors have accelerated the global esports market significantly. Increasing awareness about esports is also playing a significant role in driving the global esports market. Moreover, large-scale investments in esports are also expected to drive this market.