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Esports, or electronic sports, is a term used to describe competitive video gaming. It has been growing at an incredible pace in recent years, with millions of people tuning in to watch professional gamers compete in tournaments around the world. In this article, we will explore just how fast esports is growing and what this means for the industry as a whole.

Firstly, let’s look at the numbers. According to a report by Newzoo, a leading provider of market intelligence for the gaming industry, the global esports market is expected to reach $1.08 billion in 2021, with a year-on-year growth rate of 14.5%. This is a significant increase from the $194 million market size in 2014. In addition, the report predicts that the number of esports enthusiasts (people who watch esports content more than once a month) will reach 474 million by the end of 2021, up from 380 million in 2018.

So, why is esports growing so quickly? There are several factors at play here. Firstly, the rise of online streaming platforms such as Twitch and YouTube has made it easier than ever for people to watch esports tournaments from the comfort of their own homes. This has helped to increase the visibility of esports and attract a wider audience.

Secondly, the increasing popularity of mobile gaming has also contributed to the growth of esports. Mobile games such as PUBG Mobile and Arena of Valor have become hugely popular in Asia, where mobile gaming is particularly prevalent. This has led to the rise of mobile esports tournaments, which have helped to bring esports to a wider audience.

Thirdly, the COVID-19 pandemic has also had an impact on the growth of esports. With traditional sports events cancelled or postponed due to the pandemic, many people have turned to esports as a form of entertainment. This has led to an increase in viewership and sponsorship deals for esports tournaments.

So, what does the future hold for esports? It seems that the industry is set to continue its rapid growth in the coming years. Newzoo predicts that the global esports market will reach $1.62 billion by 2024, with a year-on-year growth rate of 14.5%. In addition, the report predicts that the number of esports enthusiasts will reach 577 million by 2024.

However, there are also challenges that the esports industry will need to overcome in order to continue its growth. One of the biggest challenges is ensuring that esports remains a sustainable industry for players, teams, and organizers. This means addressing issues such as player burnout, fair compensation for players, and ensuring that tournaments are financially viable.

In conclusion, esports is growing at an incredible pace, with millions of people tuning in to watch professional gamers compete in tournaments around the world. The rise of online streaming platforms, mobile gaming, and the COVID-19 pandemic have all contributed to this growth. However, the industry will need to overcome challenges such as player burnout and financial sustainability in order to continue its growth in the coming years.

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