Video games have come a long way and expanded their horizons drastically. They are not just a source of entertainment for kids anymore. They are not just fantastical things to waste time upon anymore. In this day and age, video games carry much more significance. So much so that it now has its own industry, big enough to compete with other giants of the realm. The industry as a whole is referred to as E-sports. It is all fair and conclusive that the sports industry is an established giant that hugely bolsters the economy by creating a market and demand among the general populace. It is by far one of the biggest sources of entertainment in the world. However, E-sports, not to be confused with sports, is the new face in the arena showing massive potential to bring just as much to the table.
E-sports, which already has millions of fans and is generating more than a billion dollars in revenue, will only get bigger. Dota 2, Counter-Strike: Global Offensive, Fortnite, League of Legends, and Overwatch are examples of organised, competitive video game play and have a mind-blowing 380 million viewers worldwide. On top of that, the industry now has a market value of over 1 billion and the sponsors generate almost 641 million dollars per annum in revenue.
To put the entire statistics into a simple perspective, the regular prize money for the Fifa World Cup is estimated to be around 55 million USD. Dota 2, one of the top E-sports games, offers about 51 million USD in its prize pool. The numbers do not stop just there. Each player earns a lot more from streaming their gameplay online in front of millions of viewers. In return, the sponsors and organisations affiliated with E-sports teams receive a very dedicated audience, just like any other sports team who helps them generate massive revenue for their upkeep.
The global phenomenon of E-sports can be a powerful asset to a country’s economy. Especially in a country like Bangladesh, which is still a developing country and can use every possible source of revenue, this industry can be a formidable weapon if utilised. For example, in Malaysia, the e-Sports industry has contributed more than 100 million USD in revenue in 2018. Globally that number is projected to grow exponentially within 2022-2023.
With the number of people playing video games still on the rise, the global market for these games was projected to generate $159.3 billion with an increment of at least 9.3 per cent per year. Within the next five right now is the tech industry. It’s not only fast-growing but also has a global reach unlike any other, given the technological world we live in right now. In Bangladesh, the market for technology and devices is perhaps one of the biggest in South and Southeast Asia. E-sports, by nature, is unique in attracting tech giants from all over the world. The video game industry helped establish and strengthen big names like Intel, AMD, Gigabyte, MSI, Razer etc. The industry also helped other brands such as Corsair, HyperX, Alienware and Secretlab to rise as formidable strongholds in the arena. Bangladesh has many enthusiasts who invest themselves in video games and as professionals in the scene. These aspirants have inspired countless small tech businesses in the country alongside other major outlets. Many of these businesses work to bring the virtual marketplaces for games like Steam, Blizzard and Epic Games into the country, therefore advertising Bangladesh as a subscriber to the industry.
However, given the societal structure and the lack of government patronisation, the gaming industry is still not recognised, and its bigger market cannot be adequately established. Even in India, Intel sponsors a huge E-sports competition organised by ESL, a German E-sports organiser. Each year numerous teams participate here, and the best out of them gets to compete on an international stage, away from the regional scenario. Many Malaysian, Indonesian and Chinese teams are already big names in the industry, bringing in insane profits for both team and sponsors and, as a result creating a demand and a market.
Bangladesh has a fair number of aspirants in this regard, only awaiting more considerable approval from the government and the people. The E-sports and video games industry right now is enormous, with an equally large opportunity to bolster the country’s economy. Subscribing to the gaming industry also means opening the door to big tech franchises, which will only be a source of prosperity in the long run.
Author-Shiddhartho Zaman
