With lots of expansion going on in the new age sports world, it is quite inevitable not to notice the quick surge in market value as investors, game companies, publishers and lovers of esports contribute immensely to the growth.
According to newzoo, the new age sport industry has seen a remarkable growth on a yearly basis which will accumulates to about $897.2 million at the end of this year.
A great percentage of the market cap is speculated to come from sponsors, marketers, investors, game companies, and publishers. With a growing online and offline audience, it is projected that spectators will reach 453.8 million. With an expected $1 per spectator, you can easily tell that the industry’s growth is very possible.
Nations around the world are slowly participating in esports events even when some challenges hamper the possibility.
The WEST AFRICAN GAMING EVENT set to host in Nigeria last December didn’t hold due to timing. Gamers and spectators were unable to reach the sports centre on the day of the scheduled 3-day event.
Esports event organizers go through a lot of stress to establish a successful trend in new communities.
Overall, it is essential to note that China is a very strong force in the industry and is set to outgrow European counterparts by 2022.