Esports has become a multi-billion dollar industry that has grown significantly in popularity over the past decade. The COVID-19 pandemic accelerated the growth of esports, and it is expected to continue its growth in the future. The future of esports looks bright, with steady growth, new games and platforms, the rise of mobile esports, major brands investing in the industry, and the importance of streaming. Technological advancements, new game releases, and investment influx will continue to drive the growth of the industry. The evolution of esports is set to continue, and it is a growing industry that is here to stay.
The Future of Esports: Predictions and Analysis for 2021 and Beyond
Introduction
Esports, also known as electronic sports or competitive gaming, has grown significantly in popularity over the past decade. With the rise of online gaming platforms, advancements in technology, and major investments from big-name brands, esports has become a multi-billion dollar industry. The COVID-19 pandemic has also accelerated the growth of esports, as traditional sports were put on hold and people turned to virtual entertainment. As we move into 2021, the future of esports seems bright. In this article, we will explore some of the predictions and analysis for the future of esports.
The Growth of Esports
Esports has been growing steadily over the years, but 2020 saw a significant spike in its growth due to the pandemic. According to a report by Global Market Insights, the global esports market size was valued at $1.1 billion in 2019 and is expected to reach $5.5 billion by 2026, growing at a CAGR of 20.4% from 2020 to 2026. This growth can be attributed to the increasing popularity of esports among millennials, advancements in gaming technologies, and the rising number of esports tournaments and championships.
New Games and Platforms
The esports industry is constantly evolving, and new games and platforms are emerging all the time. One of the biggest developments in 2020 was the release of Valorant, a first-person shooter game developed by Riot Games. The game quickly gained popularity and has already become a staple in esports tournaments. Other games that are expected to gain traction in the esports industry include Halo Infinite and Wild Rift, a mobile version of League of Legends.
The Rise of Mobile Esports
Mobile gaming has been around for years, but it’s only recently that it’s started to gain a foothold in the esports industry. Thanks to the increasing popularity of games like PUBG Mobile and Free Fire, mobile esports is expected to grow significantly in the coming years. According to a report by Newzoo, the global mobile esports audience is expected to reach 728.8 million by 2021.
The Role of Brands
Brands have played a significant role in the growth of esports, and this trend is expected to continue in the future. Major brands like Coca-Cola, KFC, and Red Bull have already invested heavily in esports, and more are expected to follow suit. In 2019, Nike signed a sponsorship deal with the Chinese League of Legends Pro League, signaling the brand’s interest in the esports industry.
The Importance of Streaming
Streaming has been instrumental in the growth of esports, and will continue to play a vital role in the industry’s future. Platforms like Twitch, YouTube Gaming, and Facebook Gaming have become go-to destinations for esports fans, and tournaments are now being designed with streaming in mind. In 2020, the League of Legends World Championship broke records with 3.9 million concurrent viewers on Twitch.
The Continued Evolution of Esports
The future of esports is bright, and there are sure to be many more developments in the years to come. The growth of the industry will depend on multiple factors, including technological advancements, new game releases, and the influx of investment. With a growing audience, a plethora of games and platforms, and increasing investments from major brands, the future of esports looks set to be exciting and vibrant.
Conclusion
Esports has come a long way since its humble beginnings. With the industry now worth billions of dollars, and tournaments drawing in millions of viewers, it’s clear that esports is here to stay. The future of esports looks bright, with new games and platforms emerging all the time, major brands investing heavily in the industry, and the rise of mobile esports. Streaming will continue to be a crucial part of the industry, and we can expect many more record-breaking moments. As we move further into 2021 and beyond, we can expect the evolution of esports to continue, and we’re excited to see where it takes us.