Cybersports, usually called competitive video games, is a computer-operated online sport. It is not just a gaming supplement but is forming an independent industry chain through the gradual improvement of leagues.
Сybersports betting is rising significantly in popularity these years, and those interested in exploring lucrative offers can find reliable bookmakers at RG.org. As a popular culture, cybersports has become firmly embedded in the daily entertainment lives of online users worldwide.
Participation in Cybersports in Different Countries
As a popular culture, cybersports has become firmly embedded in the daily entertainment lives of online users around the world.
Research shows that even respondents who are unfamiliar with or uninterested in cybersports may unknowingly engage in cybersport-related activities, such as reading or watching cybersport IP content.
In all countries surveyed except Japan, less than 10 percent had not participated in any cybersport activities, with China’s share being just 0.9 percent. This emphasizes the important role of cybersports in the entertainment lives of online users around the world.
The Most Popular Topics Related to Cybersports
According to Google Trends, the most popular cyber sports games in 2023 are League of Legends, Valorant, Counter-Strike: Global Offensive and Dota.
League of Legends is sure to be the hottest topic in cybersports in 2023, with peak viewership (excluding Chinese streaming platforms) reaching 4.3 million tournament viewers: the 2023 World Cup.
With the League of Legends Worlds 2023 finals approaching on 19 November 2023, cyber sports viewership may well be reaching a new peak and cyber sports could become a more popular topic.
Global Cybersport Market Size and Revenues
Data shows that in 2020 alone, more than 75 million people around the world started watching eSports, bringing the total audience to 475 million. In 2021, the global audience for cybersports surpassed 524 million, and global revenue grew 21% year-on-year to 1.2 billion.
Last year, the growth rate was 17%, with the entire market value exceeding $1.2 billion. Despite this, the annual growth rate was projected to drop to 14% in 2023, with global revenues growing at a $2 billion annualized rate.
Regionally, nearly half of the cybersports revenue will come from the two largest markets, China and the United States.
Media rights, advertising, sponsorships, ticket and merchandise sales, and game publisher royalties.
Sponsorship is projected to be the largest source of revenue, with an expected growth rate of 12%, reaching $895 million. This is likely to grow at a 16% CAGR by 2022.
Media rights revenues are expected to grow 18% to reach $276 million, down from a 21% growth rate in the previous year.
The merchandise and ticketing sectors are expected to experience the most significant revenue decline in revenue growth. However, this particular area of the eSports industry is projected to grow 34% year-on-year to $180 million in 2022.
However, statistics show that 2023 growth will be less than half of that figure, with revenue increasing 16% year-on-year to $210.6 million.
Conclusion
The global cybersports industry is experiencing significant growth and widespread acceptance due to expanding audiences, participation of large companies and integration into traditional sporting events.
Critical developments in Asia and the Middle East, including cybersports in the Asian Games and Saudi Arabia’s plans to host a cybersports world championship, signal a promising future.
As technology advances and cultural perceptions change, the cybersport sector will likely create more opportunities for investment, collaboration and participation, supporting the global digital economy.
