ESPORTS MARKET ANALYSIS

Health concerns due to long gaming hours is one of the major factors restraining the growth of global esports market. Playing games competitively at professional level requires extensive practice for several hours daily which can potentially harm the health of players both physically and mentally. Esports players have to train their bodies and mind through repetitive intensive training just like conventional athletes which puts immense strain on them. Long working hours in front of displays coupled with lack of physical activity can increase the risks of health issues like obesity, diabetes, cardiovascular diseases, muscle and skeletal problems, eyestrain and fatigue in players.

Prolonged gaming also poses severe mental health risks like depression, anxiety, cognitive impairments, addiction and social isolation in esports athletes. The high stress and pressure to perform in tournaments can negatively impact their psychological well-being.

Market Opportunities: Scope for incorporating virtual reality and Blockchain technologies in esports

Esports has seen tremendous growth in recent years and has emerged as a billion-dollar global industry. With increasing popularity among both spectators and participants, especially among the younger generations, the esports market is poised to further expand in the coming years. Virtual reality and Blockchain technologies can play a pivotal role in propelling this growth trajectory.

Virtual Reality offers the ability to immerse viewers into the gameplay like never before. It can provide a first-person perspective and match the experience of being on the virtual field. This would take spectating engagement to an all-new interactive level. Players can also leverage VR for sophisticated trainings and skill development. On the other hand, Blockchain can help address various challenges related to fraud, payments, and ownership rights. It allows creation of unique digital assets and proof of ownership through non-fungible tokens (NFTs). This opens up new revenue streams through asset monetization, sponsorships and secondary markets. It brings transparency to results, rankings and payments to players.