As the eSports industry continues to expand across the globe, it’s increasingly apparent that Asia is leading the charge. With a projected revenue of US$714.80m in 2023 and an annual growth rate of 7.89%, the eSports market is expected to continue its impressive upward trajectory. The eSports industry, like regular sports, has a growing betting culture, and Asian betting online is increasing on eSports, with the online betting market for eSports in Asia showing significant potential for growth. China, in particular, has emerged as the largest eSports market in Asia, generating an estimated US$445.20m in revenue in 2023. Meanwhile, Japan has also solidified its position as a leader in the industry, boasting a vibrant and diverse eSports scene with popular games and tournaments. With an expected 439.90m users by 2027 and an average revenue per user of US$1.96, the future of the eSports market in Asia looks bright. As eSports continues to transform the gaming landscape across the region, the opportunities for growth and development are seemingly limitless.
A brief explanation of what eSports is and their popularity in Asia
Esports, an abbreviation for electronic sports, refers to a form of competitive video gaming that involves organized multiplayer matches, often with professional teams or in organized tournaments. This industry, which is dynamic and fast-paced, has been rapidly gaining popularity worldwide, including in Asia. The zeal for esports in Asia can be attributed to a variety of factors, including the region’s technological prowess, its love for gaming, and the growing interest in competitive gaming. This popularity has become a cultural phenomenon that transcends national borders and attracts gamers of all ages and backgrounds. With a thriving competitive scene and millions of passionate fans, Asia has become a hub for esports activities, with China, Japan, South Korea, and Singapore leading the way. As the esports market in Asia is projected to grow to almost US$1bn by 2027, it’s clear that the region’s enthusiasm for competitive gaming is only going to increase.
eSports market in Asia: Overview
The eSports market in Asia is on an impressive upward trajectory, rapidly establishing itself as one of the fastest-growing markets globally. Newzoo’s report estimates that the eSports revenue in Asia was a staggering $1.2 billion in 2020 and is expected to reach a dizzying $2.4 billion by 2023. The meteoric rise of this market in Asia is a result of several factors, including the widespread popularity of mobile gaming and the proliferation of streaming platforms like Twitch and YouTube Gaming. The growth is further accelerated by the surge of investments into eSports teams and tournaments in countries like China and South Korea. Furthermore, the recognition of eSports as a legitimate sport in many Asian countries has opened doors to professional leagues, leading to more sponsorships and partnerships between brands and teams. As a result, both parties benefit from increased revenues.
Japan: A leader in the eSports market
For years, Japan has been an undisputed leader in the world of eSports and continues to wield immense influence in this thriving industry. It is home to some of the biggest gaming companies in the world, including the likes of Sony, Nintendo, and Capcom. These companies have made substantial investments in developing competitive gaming titles that have captured the hearts of gamers all around the globe. Not only that, but Japan has also played host to several high-profile international tournaments, including the Tokyo Game Show and EVO Japan, creating an electrifying environment where professional gamers can lock horns on a truly global stage. Furthermore, Japanese eSports teams have performed exceptionally well in various international competitions such as The International and League of Legends World Championship Series, contributing significantly to legitimizing eSports as a legitimate form of entertainment and competition in Japan. With all these factors in play, it’s no surprise that Japan remains a powerhouse in the world of eSports!
China: The largest eSports market in Asia
The colossal and rapidly expanding eSports market in China has been flourishing in recent years, with some of the most successful professional gamers in the world hailing from the country. The behemoth Chinese eSports market, which is predicted to reach a staggering $2.4 billion by 2021, is fueled by various factors, including the escalation in mobile gaming popularity, and the emergence of streaming platforms such as Douyu and Huya. Furthermore, the Chinese government’s commitment to developing infrastructure for professional gaming tournaments and leagues has contributed to the buoyant competitive scene in the country. The astounding success of Chinese eSports teams and colossal prize pools offered for tournaments has garnered investments from tech companies, accelerating the growth of the eSports market in China.
In conclusion, eSports is revolutionizing the gaming industry in Asia by creating an international platform for gamers to compete against one another and achieve greater recognition. Additionally, it has also opened up opportunities for sponsorships, media coverage, and other forms of professionalization within the gaming industry.
