Esports Market Will Hit 1.6 Billion USD By 2023

The esports market is definitely making some nice buzz around. According to a Statista analysis, the industry is expected to grow in the upcoming years. Surely the impact of being at home during these unfortunate times has helped a lot to spread the word. In fact, thousands of people, if not millions, are watching their favourite teams competing in CSGO, Dota, League of Legends and many other online games.

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As we have seen in this article, esports is more getting enough exposure and attention to attract media companies in sponsorships, advertising and even more… think about the gaming industry as a whole. One of the main drivers is still gambling with their endless stream of cash flow incoming each month by users from all over the world.

Yes, it is a regulated market, but so does the esports market. Look at the major companies that are coming in, the barriers for entering aren’t that high.

Players from all over the world can sign up to Twitch for free and check their favourite teams playing. Plus, as mentioned before, people started to bet on those team as it would naturally happen in normal sports. The more attention the market can get, the faster the industry will grow. This is definitely pushing for new boundaries, new technologies and innovation within the tech industry as well.

Basically, all the related markets are benefiting by being associated with esports. If you are wondering what nations are leading the way, we are surely talking about North America, Asia and China. North America the reason is simply that the conglomerate of tech is helping to shape and favourite the development of such a market, companies can find talents, resources and attract various investments.

Let’s go back for a moment and talk about gambling, as this is a support pillar for the market. Indeed, it might look not oblivious but the iGaming industry helps a lot of esports teams to do their jobs. Gambling platform market themselves with a lot of resources utilizing all the marketing channels available, especially not limited to only one target market but rather to several ones, big and small.

With all the users reached each month, esports gets a raise in awareness and so, the adoption is higher. Having such a giant player helping the little one is driving to all-time highs the revenues which will allow sustaining the esports business even more. Thus, manager, they need to innovate and to keep with the high pace the market is having despite the dip we had within the global economy.

Concluding, we can say that the esports market together with the gambling one is shaping the gaming industry. New opportunities flourish, for example, Bitcoin Casino, and innovation comes along with it – there might be a train to catch these days for long term opportunities. In-depth and personal researches are what you need in exploring more this industry.

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