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Borneo Post
7 days ago
- Business
- Borneo Post
Esports — The future of opportunity
Esports today is a dynamic global movement that redefines how young people learn, connect, compete, and dream. — Bernama photo ESPORTS is the fastest-growing sport globally, with the industry evolving into a multi-billion-dollar global economy over the past few decades. Though many consider esports a recent phenomenon, its roots trace back to the 1970s through arcade game competitions. The late 1990s and early 2000s saw the rise of broadband Internet, propelling esports from local arcades into the global spotlight. This shift enabled players to transition from casual gamers to international competitors. Esports' exponential growth has been fuelled by high-speed Internet, advancements in gaming hardware and software, and widespread accessibility – allowing players to compete and fans to watch from virtually anywhere in the world. Today, esports players compete in local and international tournaments, with prize pools in major events often surpassing those of traditional sports competitions. Esports has emerged as a powerful cultural force, engaging millions – not only as players, but also as creators, collaborators, and future leaders. Still, scepticism remains. Many question whether esports qualifies as a 'real' sport due to its lack of physical exertion. Like chess, esports may not align with traditional definitions that emphasise strength, speed, and endurance. However, competition is not solely about physicality. Strategy, mental endurance, and skill are also key – traits that define esports and chess alike. Despite their differences in format, esports and traditional sports share fundamental values: discipline, preparation, focus, teamwork, strategy, and mental resilience. Professional players often train for hours daily, supported by nutritionists, psychologists, and fitness coaches – leading lifestyles far more structured and intentional than many assume. Major international events like 'The International' and the 'League of Legends World Championship' draw massive crowds, both in stadiums and online. These are no longer niche gatherings; they are headline events in a digitally connected world. Yet, concerns persist, particularly from those who struggle to grasp the scope and impact of esports. For some, it still conjures outdated stereotypes of kids glued to screens. But like floppy disks and dial-up modems, those notions are obsolete. Esports today is a dynamic global movement that redefines how young people learn, connect, compete, and dream. It is more than playing games – it is a launchpad for opportunity. One of the most inclusive and accessible platforms, esports transcends borders and backgrounds. Young people from all walks of life, whether using mobile phones in rural areas or high-end rigs in city centres, can participate and excel. Rather than isolating youths, gaming connects them. During the pandemic, it became a social lifeline – keeping families close, providing joy, and fostering belonging when it was needed most. The esports ecosystem is expansive. Top-tier players compete in global titles like 'League of Legends', 'Mobile Legends: Bang Bang', and 'Rocket League'. Behind the scenes are the strategists, production crew members, marketers, and designers working collaboratively. It is where technical expertise meets creativity, and where passion finds purpose. In Sarawak, esports is gaining ground thanks to the efforts of the Sarawak Esports Association, led by Afiq Fadhli Narawi. Though new to the international stage, Sarawak has set its sights high – aiming to lead the esports scene in Southeast Asia. This ambitious vision was outlined by Minister of Youth, Sports and Entrepreneur Development, Dato Sri Abdul Karim Rahman Hamzah, at the Sarawak Esports Expo last December. The goal is achievable. Sarawak has already produced international champions, including Nadrah Saufi of Sibu, a member of the Malaysian Grills Gaming esports team that won gold at the 2022 Birmingham Commonwealth Games. On the global stage, events like the Pan American Esports Championships, held alongside the Santiago 2023 Pan American Games, showcased the scale and excitement of esports. Over 120 athletes from 25 countries competed in titles like Dota 2 and eFootball 2024, drawing 40,000 fans to the National Stadium Park and millions more online. An additional 30,000 visitors engaged with the surrounding GEFestival, highlighting the cultural and economic impact of such events. Even International Olympic Committee (IOC) president Thomas Bach made a special appearance – an acknowledgment of esports' growing significance. The Global Esports Federation's annual Global Esports Games furthers this momentum, uniting athletes from over 100 countries – not just to compete, but to share stories, cultures, and experiences. Esports is not only about competition. It is a platform for innovation, creativity, and well-being. At Unesco's 'Fit For Life Day' during the Pan American Esports Championships, over 400 students joined in celebrating wellness, inclusion and community – joined by Chilean volleyball stars Marco Alfonso Grimalt Krough and Esteban Grimalt Fuster. Their message: physical and digital lives can – and should – complement one another. Esports events are economic powerhouses, attracting tourism and global attention while influencing conversations around digital literacy, innovation, wellness, and education. They help shape what the 'future of youths' looks like. Esports will not replace traditional sports – it is expanding the field of play. It gives young people new ways to connect, grow, and thrive on their own terms. So let's move beyond the myths and outdated assumptions. The next time someone says esports is 'just kids playing games,' tell them it is 'the young people building future'. And that they are doing it, together – one game at a time.
Globe and Mail
28-01-2025
- Business
- Globe and Mail
Esports Market to Surge $5.17 Billion by 2029
"Esports Market Research Report by Arizton" According to Arizton's latest research report, the esports market is growing at a CAGR of 17.48% during 2023-2029. Report Scope: Market Size (2029): USD 5.17 Billion Market Size (2023): USD 1.96 Billion CAGR (2023-2029): 17.48% Historic Year: 2020-2022 Base Year: 2023 Forecast Year: 2024-2029 Market Segmentation: Revenue, Game, Platform and Geography Geographical Analysis: North America, Europe, APAC, Latin America, and Middle East & Africa The Rapid Growth and Economic Potential of the Esports Market The esports industry is experiencing rapid growth, driven by technological advancements and increasing global interest. With a projected audience of 640 million by 2025, esports is becoming a dominant force in entertainment. Mobile gaming, powered by 5G and enhanced hardware, is a major contributor to this growth, while major companies like Netflix, Apple, and Disney are entering the gaming sector. Innovations such as cloud gaming and new streaming services by companies like NVIDIA and Microsoft are further pushing gaming boundaries. Esports offers significant economic opportunities through various revenue streams, including sponsorships, merchandising, ticket sales, advertising, and media rights. As the industry expands, strategic partnerships are helping brands engage with a youthful, global, and digital-savvy audience. Examples include collaborations like Vodafone Idea and Team Vitality in India, and KFC's partnership with the Saudi Esports Federation (SEF), which aims to elevate Saudi esports talent. Notable regional developments include the Red Bull Gaming Hub in Toronto and the Ontario government's esports scholarship initiative, which support local talent growth. Esports' increasing mainstream presence underscores its immense potential as both an entertainment and investment opportunity globally. Growing Sponsorship and Partnerships Booming the Esports Industry The esports industry is seeing a surge in sponsorships and partnerships, driven by major international tournaments like The International (Dota 2) and the League of Legends World Championship, as well as collaborations between esports and traditional sports organizations. Advances in technology, such as high-speed internet and streaming platforms, are also fueling industry's growth. In May 2024, several prominent brands, including HSBC, Porsche, Land Rover, Revolut, and Cisco, further solidified their investments in esports. HSBC renewed its partnership with GIANTX, focusing on promoting financial literacy to younger audiences. Porsche collaborated with the Overwatch Championship Series at Dreamhack Dallas Major to engage with tech-savvy fans in the esports community. Additionally, Swedish esports organization 9INE partnered with betting company LEONBET, integrating betting and interactive content to enhance fan engagement. These high-profile partnerships signal the increasing mainstream appeal of esports, as traditional companies tap into its vast potential to reach younger, digitally-savvy audiences, further establishing esports as a lucrative and evolving industry. North America Dominance in the Global Esports Market North America remains the largest region for esports, holding a 44.25% share of the global market. The region has seen significant investments from game publishers, venture capitalists, and traditional media, contributing to the industry's rapid growth. The rise of esports competitions, from the Nintendo World Championship in the 1990s to major events today, has fueled the sector's expansion. The U.S. continues to lead the market, with esports events linked to major sports leagues like the NFL, MLB, and NBA. Additionally, streaming platforms such as Twitch, YouTube Gaming, and Facebook Gaming have revolutionized how esports content is consumed, offering gamers a global platform to showcase their skills. Canada is also experiencing notable growth, with cities like Toronto and Vancouver playing key roles in developing a thriving esports ecosystem. The region's emphasis on technology and innovation has further bolstered the sector's growth, positioning North America as the epicenter of the global esports industry. Key Company Profiles Electronic Arts Inc. ESL FACEIT Group Microsoft Sony Group Corporation Take-Two Interactive Software Tencent 100 Thieves Aksys Games Bandai Namco Entertainment Capcom Cloud9 Esports Crytek Deep Silver Fnatic Ltd Frenzy Arena G ESPORTS HOLDING GAIMIN GLADIATORS Gameforge Com2uS Holdings Gen.G Esports Hi-Rez Studios HUYA Inc. Kabam Karmine Corp Konami Holdings Corporation NCSoft Neowiz Games Nintendo Nival NRG Sega SK Telecom CS T1 Co Space Station Gaming Super Evil Megacorp Talon Esports Twitch Interactive Valve Corporation Wargaming Group Limited Market Segmentation Revenue Sponsorships Advertisements Media Rights Game Publisher Fee Merchandise & Tickets Game Multiplayer Online Battle Arena (MOBA) Player versus Player (PvP) First-person shooter (FPS) Real-Time Strategy (RTS) Massive Multiplayer Online Game (MMOG) Platform Console PC Mobile & Tablets Geography North America The U.S. Canada APAC China South Korea Japan India Australia Vietnam Europe The U.K. France Germany Italy Poland Spain Sweden Latin America Brazil Mexico Argentina Chile Middle East & Africa The UAE Saudi Arabia South Africa Egypt The Arizton Advisory & Intelligence market research report provides valuable market insights for industry stakeholders, investors, researchers, consultants, and business strategists aiming to understand the esports market market thoroughly. Request for Free Sample to get a glance at the report now: What Key Findings Will Our Research Analysis Reveal? What is the growth rate of the global esports market? Which region dominates the global esports market share? How big is the global esports market? What are the significant trends in the esports market? Who are the key players in the global esports market? Other Related Reports that Might be of Your Business Requirement Global Tabletop Games Market - Focused Insights 2024-2029 Online Gambling Market - Global Outlook & Forecast 2023-2028 Why Arizton? 100% Customer Satisfaction 24x7 availability – we are always there when you need us 200+ Fortune 500 Companies trust Arizton's report 80% of our reports are exclusive and first in the industry 100% more data and analysis 1500+ reports published till date Post-Purchase Benefit 1hr of free analyst discussion 10% off on customization About Us: Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services. We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts. Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
