Canada is known for more than just maple syrup and hockey. E-sports is quickly taking over Canadians' favorite past-time, with cities like Toronto and Vancouver leading the way? Sports are not just about scoring goals or hitting home runs anymore. E-sports have changed the sports landscape, with professional gamers competing for millions of dollars in prize money. Canadians, with their love for all things tech, have quickly become an uprising force in the e-sports industry and are poised to become a significant players. Read on to explore the exciting opportunities and challenges that await Canada!
Opportunities
Economic Growth
Speculated to grow to a value of USD 5.74 billion by 2030, the e-sports industry is expected to bring major economic growth to Canada. Canada could seize this chance to invest in e-sports infrastructure, support regional e-sports organizations, and draw major e-sports events to the country. Increased employment opportunities and a boost for nearby businesses result from such growth? Global championships attract significant growth for neighbourhood businesses, which boosts overall economic activity. A prime example is the League of Legends World Championship 2019, which was held in Europe and attracted an estimated 44 million viewers worldwide and $163 million in economic activity!
Innovation and Entrepreneurship
E-sports can foster entrepreneurship and innovation, supporting numerous startups that jump on the innovation bandwagon. The phrase "necessity is the mother of invention" is probably the essence of the Canadian business Player One Trailers, which has risen to the occasion by creating customized trailers for e-sports competitions? With a growing demand for products specifically catered to e-sports events, the startup ecosystem would need to step up its game, enhancing the innovative landscape of Canada. With the popularity of VR and AR technology and gamers' desire for an immersive experience, specialized gaming hardware that enables player customization is in high demand. Event management companies are also in high demand, as e-sports championships necessitate the services of skilled professionals to coordinate these events.
Technological progress
With esports betting becoming the next big thing, Canada's technological prowess is a no-brainer? With technological advancements in 3D scanning, virtual reality esports leagues, and human facial recognition, market players are constantly stepping up their game, allowing Canada's technological competence to take the lead. The amount of time spent watching video content related to video games has increased significantly in Canada as a result of the rollout of 5G networking. The Canadian esports betting industry also impresses the blockchain market because it enables athletes to crowdfund their performances using revenue-sharing agreements or loyalty rewards. It's also possible that the e-sports scene will be among the first to adopt the metaverse experience. Canada can only benefit from this!
Branding and Marketing
Because there are so many e-sports fans worldwide, businesses can start by holding small e-sports competitions to build their brand or foster customer loyalty. By sponsoring players, teams, events, and other elements of the industry, businesses can use the idea of e-sports influencers to promote their brands. Businesses can reach a larger audience and interact with younger demographics by partnering with e-sports influencers. Utilizing social media and creating original content is yet another way for businesses to connect with younger consumers. E-sports content is gradually becoming more popular as more fans join the hype, so it's better to incorporate e-sports content into your social media campaigns sooner rather than later?
Challenges
Lack of Infrastructure
While Canada is surely at the top of technological prowess, the infrastructure needed to yield is still not there yet. While major Canadian cities like Toronto, Vancouver, and Montreal have incorporated e-sports gaming facilities, many are still lagging behind in recognizing e-sports as the next big thing. Additionally, there aren't enough places for e-sports competitors to hone their skills, which makes it more difficult to find top talent. This can also cast a negative light on hosting e-sports competitions in Canada, thus leading to an overall lack of e-sports competitions being held in Canada.
Legitimacy and Stereotypes
E-sports are still a young competitive sport, and the media hasn't given them much attention despite their legitimacy. As more people learn about e-sports, the scepticism surrounding them can be reduced. However, because e-sports are still in their infancy, the stigma associated with them not being physical activities prevents them from becoming more popular. Yet another inaccurate stereotype is the one that claims e-sports players aren’t physically fit or are socially awkward. This is not only false, but it would also deter viewers and new talent from viewing e-sports as a legitimate sport, which is harmful. Professional players train for hours to achieve agility and hone their skills. For e-sports fans and those just getting into the sport, this lack of legitimacy serves as a barrier.
Conclusion
Video games are both challenging and rewarding, and the same can be said for Canada's e-sports ecosystem? While major challenges such as infrastructure and a lack of recognition are already in place, issues such as gender diversity and inclusion are on the horizon. To truly level up, Canada would need to surpass these challenges and thus break the digital divide once and for all. Navigating the industry is no walk in the park, but with the right investment and support, the field of e-sports could be taken to the next level with Canada's backing!
