Meta: The eSports industry is growing by the day, but how can the UK fit into it as it grows? We took a closer look at the factors that might determine this here.
The eSports industry has boomed in the past decade or so, not just in the UK but across the world. We tend to associate this sector with the US and Asian markets, but there is a healthy interest in the UK too. Will eSports continue to grow in the UK? Let’s take a look at some of the factors that could determine it.
The Current Position
eSports have been around since the start of the 21st century but they have boomed into a multimillion industry in the past decade or so. The biggest tournaments can attract audiences larger than some major sporting events, and cash prizes and sponsorship deals in the millions for the best players.
The UK alone is thought to have an 8% share in this global market and the sector was estimated to contribute £111.5 million to UK GDP in 2019. As the UK continues to grow its digital and creative markets, it only makes sense that they focus on areas such as this. There are already plenty of highly-ranking UK players across the various games, plus tournaments and other events that help to mark this as a part of the industry to watch.
Of course, no growing industry can thrive without investment. Investment in eSports tends to be on two fronts. Some investors choose to target the teams themselves – providing them with funding for equipment and training. Others prefer to invest in tournaments and venues to help build up the infrastructure of the industry itself.
There is a fantastic range of people from all backgrounds investing in eSports, from Tej Kohli to Chris Fralic, from James Currier to Elon Musk and many more too numerous to mention here. The more we see invested into this industry, from a great diversity of backgrounds and sources, the further development we shall see overall.
A Thriving Games Industry
Though players and opportunities are a big factor in the development of the eSports industry, we typically see this sector flourishing in countries that have an established games industry already. Countries like the USA, South Korea, and Japan all tend to dominate the eSports leagues, and they are also countries that are well-known for creating high-end gaming franchises that are loved all around the world.
However, what many might not realise, is that the UK also has a thriving games industry. Though it might not be as high-profile as others, there are high-quality games released every year that were created in UK studios. As the UK games industry as a whole begins to grow, it will bring up the eSports industry alongside it.
The world of eSports is only going to get bigger. Though it has experienced exponential growth in the past few years, there are still plenty of leaps and bounds to be made. With the help of investors and a focus on what the UK can bring to the world eSports market, there is no reason why we cannot see the UK becoming a major player in the sector as a whole.