News & Media

Esports in 2023 has continued to grow and evolve in all aspects which sets up the industry in a very favorable position heading into 2024. Be it from the grassroots level to the pinnacle of competition such as the League of Legends World Championship and DOTA 2’s The Internationals, the industry has thrived, cementing its place in the mainstream consciousness.

After years of preparation, Esports’ inclusion in a global-level multi-sports event took place at the 2022 Asian Games in Hangzhou. 30 National Olympic Committees (NOCs) took part in seven game titles which saw hosts China reigned supreme, winning 4 out of 7 contested gold medals.

Commenting on the success of hosting Esports at the Asian Games, Asian Electronic Sports Federation COO, Steve Kim, said “Not only were we able to position Esports to a level on-par with traditional sports at the Asian Games, we were also able to embed it (Esports) into the consciousness of the masses through various organic means through broadcast, social media and of course, word of mouth.” 

“The arena at Hangzhou was packed for the finals and even for the earlier rounds, the crowd remained engaged and high-spirited. In my humble opinion, this is just a taste of the full potential of Esports” he added. 

According to Statista, globally, the Esports market was estimated to reach a value of over $1.38 billion by the end of the year, with major tournaments and leagues attracting millions of viewers worldwide. Popular game titles such as League of Legends, DOTA 2, and Counter-Strike: Global Offensive continue to dominate the competitive scene, while new games like Valorant and Apex Legends have emerged as strong contenders. 

With increased attention and interest, it is safe to assume these numbers will be topped by the end of 2024. Statista reported that the market is anticipated to exhibit an annual growth rate of 6.26% between 2024 and 2028, resulting in a projected market volume of US$1,526.0m by 2028.[ref]

The Esports landscape has also become more diverse, with an increasing number of female players and teams making their mark in the industry. The rapid growth of competitive mobile games such as Mobile Legends: Bang Bang and PUBG Mobile has also helped open the floodgates for new players into the scene. 

This inclusivity factor changes the public perception of Esports as a whole, making it the most accessible competitive scene for everyone. Overall, 2023 has been a positive year for Esports, with continued growth and recognition as a legitimate form of sport and entertainment. 

Moving into 2024, casual and core fans alike can expect the growth of Esports in multiple directions with more events being hosted all around the world. However, it has to be stressed that a strong foundation is the key for all things successful and organizers would be wise to not ignore the growth and sustainability part of the whole equation. 

Millions invested in mega events will come to naught without proper development and management of talent. While we welcome the grand vistas and huge tourneys, it is the community that builds and plays the biggest role in shaping the future of Esports. 

As usual, the AESF welcomes collaborations and partnerships from various relevant industries. We believe that these industries play equally crucial parts in building the Esports ecosystem and look forward to seeing it thrive in many years to come.