Global eSport Industry Targets Africa Market For Growth
Competitive video gaming tournaments - commonly referred to as eSport - has experienced tremendous growth in South Africa (thanks mainly to COVID-19 lockdown); as a result, promoters of the sport are looking to now expand across the continent.
For the past years, the global e-sport industry has seen a resurgent boom with increasing interest from broadcasters, advertisers and sponsors. According to the market intelligence firm NewZoo, it is predicted that the global audience will rise to 495 million with revenues of up to USD1.1billion at the end of 2020.
With Africa's youthful and 'increasingly urban population' it is thought that the continent holds the key to new market opportunities for the sport.
According to Sidharth Kedia of Nodwin Gaming (investors in Global eSports), the expansion into the rest of Africa from South Africa is ripe as the market conditions now look like what China and India were like some five years ago.
As broadband proliferation continues unabated, and the cost of data continues to fall, the opportunities for e-Sports can only progress in Africa.
Credit: Contribution from African Business Magazine