China's eSports market's revenue set to surge over 3 times

Revenue from China's competitive video game events will rise more than three times by 2021, powered by aggressive development of games and the country's large tech-savvy population, PwC said in a report today.

The eSports market is expected to generate US$182 million in revenue by 2021, up from US$56 million last year, the report said.

Advertising via streaming will be worth US$84 million and sponsorship will account for US$54 million while consumer spending will total US$31 million and ticket sales should take up US$12 million, all segments growing at double digits per annum.

"The special appeal of eSports stems from the fact that typically, spectators are young, tech savvy and eager to spend money accessing their favored entertainment on digital platforms," said Sandy Xu, PwC China TMT partner.

The report said faster broadband and more interactive interfaces such as VR and AR will also shape eSports.

China is expected to remain the second largest eSports market in Asia after the South Korea, while the US will remain the world's largest market valued at US$299 million in 2021.