Chinese Esports Market To Be Worth US$3bn By 2020

The Chinese government has formally recognised esports as a profession and according to new reports, it’s expected to increase the online gaming market to US$3 billion by 2020.

According to a report from China’s state television broadcaster, China Central Television (CCTV), the Chinese esports market is projected to double within two years, following a market estimate of US$1.25 billion in 2018.

The report also found there are more than 50,000 people working in the Chinese esports industry, with that number expected to surpass 250,000 by 2020.

Bang Xu, the vice president of Tomorrowland Esports told CCTV: “[In China] the number of esports leagues in 2016 was just less than ten.

“At present, the number of esports leagues has exceeded 100.”

In an effort to try and keep pace with the influx of gamers, many Chinese colleges are opening up state-funded esports related programs focused on supporting and cultivating talents, as well as management, event operation and broadcasting.