The shortened form for Electronic Sports is eSports (UK/ˈiːˌspɔːts/ US/ˈiːˌspɔːrts). It can be written as esports or e-Sports. As with terms like e-Learning, e-Vehicle, and e-Mail, the initial ‘e’ stands for electronic. In the world of eSports, competitors play computer games in large arenas or online.
We can refer to the term in both the plural and singular, as in ‘What is esports?’ or ‘What are esports?’
In an eSports tournament in an arena, gamers compete against one another while fans watch the events on gigantic screens.
eSports tournaments also harness cutting-edge streaming technologies, allowing millions worldwide to watch and engage with live competitive gaming events.
The eSports sector today is worth billions of dollars globally each year. Many players today have become multimillionaires. If you want to read about eSports matches, you will first need to become familiar with the vast number of jargon words that exist in this sector.
According to Hannah Dwan in an article in the Telegraph:
“There are prize pools of up to $24 million. Esports are also hard to understand, filled with jargon, and not exactly like the sports you typically associate with competition on a global scale.”
Individual and team-based competitions
In most cases, eSports tournaments are team-based. There are various leagues in which teams compete for positions in matches throughout the year, culminating in one giant, final event and a mega prize.
Some tournaments are global, while others are regional. In region-specific competitions, for example, European teams play only against other European teams, Asian teams against other Asian ones, etc.
Some matches consist of one-on-one, head-to-head matches, i.e., one person plays against another individual.
eSports has gained acclaim for its inclusivity, allowing individuals from diverse backgrounds to compete on a global stage regardless of their physical abilities.
Investment in eSports
Over the last few years, eSports has attracted a growing number of major investors due to its fast growth rate. Players, teams, and venues are now earning considerable sums from companies wanting to promote their brands.
Global esports market
According to Fortune Business Insights, the global esports market in 2022 was valued at $1.45 billion. It is predicted to grow to $6.75 billion by 2030. The esports market is on the rise thanks to several key factors: the growing popularity of live game streaming, increased investments in gaming, higher viewership and ticket sales, active engagement, and a stronger demand for league tournament infrastructure. This surge is also creating new revenue opportunities as more gamers, organizers, influencers, and game developers get involved.
Worldwide audience
The global esports audience reached 574 million in 2023, of which – core enthusiasts constituted 283 million. With a compound annual growth rate of 8.1%, the global audience figure should reach 641.1 million by 2025, says ASO World.