Predicting the Future of Esports in 2023 and Beyond!

Esports is currently a booming industry. It is expected to grow at over 20% per year for the next ten years. Esports seem to be becoming more and more mainstream every day, with multinational companies sponsoring events and doing brand deals with esports organizations. Also, the mainstream media continues to increase its esports coverage in hopes of attracting a new younger demographic. In this article, we will examine what the future of the esports industry will look like!

 

New Esports

A big difference between traditional sports and esports is that esports can suddenly die and be replaced by other games. For example, Starcraft II was one of the world's top esports just a few years ago. Now prize pools have shrunk dramatically, and the player pool continues to decline.

The current most popular esports are League of Legends, released in 2009; Dota 2, released in 2013 and CS:GO released in 2012. While these games currently have a mature pro circuit with 7 figure prize pools and millions of monthly active players, these games will eventually die. We don't expect people to be playing them in 15 or 20 years.

We predict that esports in the future will be virtual reality-based. Esports athletes won't just be sitting behind a computer; they will be running around their virtual world. Omni One is already building a 360 VR treadmill where players can play different games, and to move their character, they have to physically run on the treadmill and can crouch and jump. This intersection of technology combined with physical exertion will be a new frontier in esports.
 

Esports Will Tap Into New Markets

Right now, Esports are centered around North America, Europe, and East Asia. As you can see that leaves a huge chunk of the world that has a limited esports scene. Thanks to the rise of mobile gaming, people from less developed countries can easily join in on the fun. We are already seeing a sharp rise in mobile gaming in Southeast Asia, particularly Malaysia and the Philippines. It won't be long before Esports start taking off in Africa!
 

Increase in Tournaments

We are right now in the boom phase of esports. They have finally gone mainstream, and now everyone wants to cash in. This will result in organizers putting on more tournaments in hopes of attracting big sponsorship offers.

The increase in tournaments will be good for players as up-and-coming players will find more opportunities to compete and impress pro teams. At the same time, organizers will be competing with each other and will need to increase prize pools to attract top players.

 

Esports Organizations Are Going to Become Massive

There are numerous Esports organizations such as TSM, Team Liquid, 100 Thieves, and FaZe Clan all with 100 million dollar + valuations. These companies are diversifying their income streams by creating different products ranging from simple branded clothing to building software and apps. 

Esports organizations that can successfully become lifestyle brands and produce products related to the gaming industry can become multi-billion companies. It will be interesting to watch over the years what esports organizations can generate significant profits and which ones will crash and burn once the venture capital money runs dry.
 

Esports Will Becoming Increasingly Mainstream

Over the next ten years, esports viewership is only going to increase, thanks to the rise of video streaming on platforms like Twitch and YouTube. Tournament organizers are going to continue to improve their products. At the same time, they are going to host tournaments in untapped new markets. These increased viewership figures should result in higher prize pools thanks to bigger sponsorship deals.

While more people tune into esports tournaments, mainstream media is going to take notice. This will create a cycle where people learn about esports from mainstream media and then check out a tournament. The tournament was a massive success, so the media continues to report about it and so on. You should also expect more and more mainstream brands to get involved as they chase the 16 to 40-male demographic.
 

Esports are not going anywhere! Over the next ten years, the industry will experience tremendous growth. However, the esports games athletes will be playing in 20 years will be very different from the ones that dominate the scene now. We predict nearly all of the future esports will be virtual reality-based and combine VR technology with physical exertion. Comment below what types of games esports athletes will be playing in 20 years.