Domino Effect: Why Esports’ Growth Is Great News For Other Industries
A common misconception from back in the day was that esports would be a branch of the general sports industry and nothing more. Fast forward to today, esports’ growth has helped the industry occupy its unique niche separate from any other industry. Yet, how does esports relate to other industries?
A Quick Look at the Esports Industry
When we refer to the esports industry, we’re involving any career or role in the industry to keep things running as discussed in our esports careers featured article.
As one of the leading viewership spectacles in the world, here are some statistics outlining the state of the esports industry in 2024 thanks to Statista:
- Global esports market – $2.4+ billion evaluation predicted to exceed $4.8 billion by 2030
- Esports events are racking up 6.4 million peak viewers (LoL Worlds 2023)
- Multiple mainstream esports genres and esports disciplines – over 20 featured at the Esports World Cup
- Over, 1,211 esports organizations are registered and fielding teams in international leagues
- Leading esports countries include the USA, South Korea, China and more
Bouncing back in a huge way since the pandemic, esports is booming. What about other industries?
Esports and Betting
As esports blossomed over the past few decades, mainstream betting platforms were hesitant to immediately dive onto the hype-train. Up to a few years ago, esports betting options were rather limited.
However, nowadays, multiple esports betting sites are available and providing a wide array of betting markets for numerous esports disciplines. Moreover, certain betting sites now have a dedicated ‘esports’ section where enthusiasts can find betting markets including live betting options.
In addition, more frequent international esports tournaments has helped make betting more popular for both users and bookmakers.
Esports and Gaming
So closely related, esports and gaming are two peas in a pod.
Moreover, esports is commonly referred to as competitive gaming and has succeeded thanks to the popularity of gaming. So while the gaming industry is the parent of the esports industry, it’s certainly not one-way traffic.
Instead, esports has had a huge impact on gaming culture, turning streamers and gamers into influencers and offering in-game events for players.
In addition, the success of esports titles has encouraged game developers to devise titles which have an esports component. Some new titles being released are completely dedicated to supporting an esports scene – we’re always on the look out.
Other key sectors growing due to esports
It is not just esports betting that owes its health to the burgeoning esports industry. There are myriad other areas where the growth of esports has led to an explosion:
- Technology companies – the boom has been particularly good for those that provide the key hardware components for esports, such as headsets, keyboards, computers, monitors, graphics cards, and controllers.
- Software development – the companies that design the top esports games, such as Riot Games and Blizzard, are now among the wealthiest game developers ever.
- Online streaming services – Online streaming services such as Twitch have a symbiotic relationship with esports.
- Professional gamers – There was a time when being paid to play computer games was just a pipedream for millions of gamers. Now, more players turn pro than ever, across a wide variety of titles.
- Support and representation – These agents and attorneys assist esports players to ensure their contracts are fair and equitable.
- Live streamers and vloggers – The YouTube generation has seen live streamers and vloggers, many focused on esports and gaming, become some of the most-watched online stars of the age. They’re monetizing their YouTube channels and making healthy livings doing it.
- Casters, shouters, and tournament organizers – Esports have created new career opportunities left and right for those interested in the marketing and structural side of the industry’s many products and tournaments.
The upshot
There is absolutely no doubt the success of esports has had a trickle-down effect into many other business sectors. With gaming now more popular than ever, the esports industry is a fine example of how the world economy is diversifying around new forms of entertainment and competition.
