Esports industry is set to boom as popularity and fan base continue to expand

Staff Reporter, Dhaka : Esports, also popular as electronic sports, is the competitive play of video games that can include organized, multiplayer competitions played professionally or casually, taking place online and offline. Esports often have players, teams, and leagues and can be broadcasted on television or streaming platforms. The names – League of Legends, Dota 2, Counter-Strike: Global Offensive, Fortnite, Call of Duty, FIFA, NFL and many more – are among the top ones trending among gamers across the world.

One may think of esports as the kid in the block in the gaming neighbourhood. But the scenario is quite the opposite in reality. For a reference, the first official video game competition happened to take place on October 19, 1972, and the prize of the competition was a one-year subscription to Rolling Stone Magazine, and the game played was Spacewar1. Since that event, esports never had to lack supporters, enthusiasts, or participants. Over the past decade, esports has earned its position as one of the most thriving industries in the world.

Esports became popular around the world owing to a variety of reasons. One major reason behind this is the growth of the internet, which has made it easy for people to connect and compete with each other online. In addition, the increasing availability and affordability of high-quality gaming equipment and computers have made it possible for more people to engage in esports. Another key factor in the rise of e-sports is the growth of streaming platforms like Twitch, which has made it easy for people to watch esports competitions and learn from professional players. This has helped to create a large, engaged audience for esports, which has attracted more sponsors and investors to this buoyant industry.

You are more than welcome to join
Esports is open to anyone with access to a computer or gaming console and the necessary games. It can be played casually among friends or in more organized settings such as online tournaments and leagues. To participate in organized esports competitions, players typically need to have a certain level of skill in the game they are competing in and may need to meet certain eligibility requirements. There are different ways to participate in esports, including online tournaments, leagues, LAN tournaments, and sponsored professional teams. However, as esports is still an evolving industry, the ways to participate may vary depending on the game and the region.

Where do we stand?
The esports gaming industry in Bangladesh is still relatively small and in its nascent stage. However, it has the potential to grow significantly in the future. There are a number of factors that could bolster the growth of this industry in Bangladesh. One of the main drivers is the increasing penetration of the internet and smartphones in the country, making it easier for people to access and play online games. Additionally, the rising popularity of esports globally has also helped to raise awareness of the industry in Bangladesh.

Furthermore, the youth population of Bangladesh is quite big, and they have a high interest in gaming, which could be a driving force for the esports industry. The government and private sector should work together to provide the necessary infrastructure and support to develop the industry further. It is also essential to scout out and nurture esports talent to tap the potential of this industry.

The esports industry has grown exponentially over the past decade and is now a multi-billion dollar industry. It has become a global phenomenon and is being embraced by countries all over the world. Bangladesh is no exception and is embracing the potential of esports with open arms.

Growth projection
The estimated value of the global esports market in 2022 was over USD 1.38 billion, and it is expected that in 2025 global market revenue of esports to grow to USD 1.87 billion, according to Statista.2 In Bangladesh, esports is gradually gaining popularity with an increasing number of young players interested in exploring the world of esports, leaving behind their mark with creativity and skills and carving out a successful career. According to esportsearnings, 73 esports players from Bangladesh have been awarded over USD 0.2 million in prize money across 70 tournaments3. According to reports, it has also been estimated that the occasional audiences of esports around the world will rise to 291.6 million4.
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1 https://www.ispo.com/en/markets/history-esports-how-it-all-began
2 https://www.statista.com/statistics/490522/global-esports-market-revenue/
3 https://www.esportsearnings.com/countries/bd
4 https://unb.com.bd/category/tech/esports-in-bangladesh-prospects-of-competitive-multiplayer-video-game-industry/89244