Colombia Esports Market Overview, 2028

Colombia Esports Market Overview, 2028

There have been 264 Colombian esports players that have been awarded a total of $825,185.12 USD in prize money across 303 tournaments. The highest awarding game was Free Fire with $125,035.98 USD won, making up 15.15% of all earnings by Colombian players. Javier Janoz CFI Munoz is the highest earning Colombian player with $44,474.62 USD in prize money won overall, with $13,500.00 USD or 30.35% won from playing in FIFA 17 tournaments.There are some top esports games like Free Fire, VALORANT, CrossFire, Fortnite, PLAYERUNKNOWN'S BATTLEGROUNDS Mobile, Counter-Strike: Global Offensive, Clash Royale, Apex Legends, League of Legends, Teamfight Tactics and others. There are some eSports top Players like Javier Munoz, JuancarlosTriana, Bryan Hernández, Arvin Reyes Molina, William Blanco, Alejandro Gonzalez, Juan Neira, Jesus Taboada, Duvan Diaz and many more. There are some eSports Top tournament like CFS 2016, FFL Latinoamerica 2021 Opening, Free Fire World Series 2021 Singapore, Clash Royale League Fall 2018 - Latin America, Free Fire World Series 2022 Bangkok, VCT 2021: LAN Stage 1 Masters, PUBG Mobile Global Championship 2021 - West, FFL Latinoamerica 2022 Opening, FNCS: 2021 Grand Royale - NA West, Clash Royale League 2021 World Finals and many more.

According to the research report Colombia eSports Market Overview, 2028, published by Bonafide Research, the market is expected to add USD 19.08 million by 2028. Streaming is expected to dominate the segment share during the forecast period. The growing emphasis on fan engagement is likely to fuel demand for live sports events. Furthermore, the rise in smartphone users is expected to fuel demand for live sports tournaments. Media rights are making a significant contribution to the country's esports industry. Fans can now track live esports activity across the country thanks to easy access to communication technology. Media companies pay exorbitant fees to win the exclusive right to broadcast live streaming of major sporting events. In recent years, the sale of broadcasting and media rights has been the most important source of revenue for most esports organizers.The revenue generated by the sale of media rights is used to fund major sporting events, renovate stadiums, and contribute to the grassroots development of esports. During the forecast period, sponsorship is expected to grow rapidly, followed by advertising. As the number of viewers grows, the sponsoring team invests in the platform to strengthen its brand image. Similarly, various gaming platforms include in-app advertisements to boost revenue generation.

The video live streaming service Twitch in Colombia had an average of 1.48 million unique visitors per month and about 323 thousand visitors per day as of October 2020. Since the beginning of the COVID-19 pandemic up to that point, the platform recorded a total of 9.87 million viewed hours of content on the platform. In 2021, eSports player CRIIZUX was the highest-earning gamer in Colombia, gaining approximately 26 thousand U.S. dollars from professional eSports tournaments. Overall, the combined earnings of the ten leading Colombian eSports players totaled around 152 thousand U.S. dollars in 2021.

Expo Esports Colombia is the complete event of electronic games, animé, comics, manga and entertainment in the country, all in one place and one of the largest in Latin America. This event was born due to the lack of esports activities in the country, the number of anime fans and the uptick in e-sports in Colombia. The event turned as an opportunity for fans of video games, anime, manga and other aspects of otaku culture to gather in one place, and count on a world full of video games, cosplay, raves, projections and special industry guests. The Colombian Federation of Electronic Sports, brought the ARENA FEDECOLDE, where various activities of this new trend were developed, Esports competitions, Cosplay catwalk, shops, food areas, etc. The fair was held between June 04, 05 and 06, 2021.

ESports is a fast-growing market within the world of gaming, mainly driven by increasing digitalization, the growing use of smartphones, and rising awareness of gaming. Faster and better technology is opening up new opportunities, and the COVID-19 pandemic has been fueling the demand for eSports. The market is expected to grow steadily due to the formation of more teams, tournaments, and companies, creating a wide-reaching platform for sponsorship and advertisement. Due to the rising number of live-stream viewers and greater profitability, both the prize money from tournaments and the amount of money invested in different teams are projected to increase.

Health and Addiction Concerns for eSports Impede the Market's Growth Gamers may experience metabolic disorders resulting from light-emitting diode computer monitors and psychological problems related to gambling addiction and social behavior disorders. The health effects of electronic sports players discovered that they are more likely to suffer musculoskeletal injuries in the back, neck, and upper extremities. In addition, spending excessive time in front of a computer monitor can cause metabolic disorders. Most of these issues arise from sedentary lifestyles and poor posture, which are common among these players. Further, the introduction of electronic sports college scholarships is also another concern,as youngsters can now justify their overuse of games as being the next electronic sports stars, even when in reality the chances of being the one are extremely low.

Considered in this report
• Geography: Colombia
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Colombia esports market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Revenue Streams:
• Sponsorship
• Media Rights
• Merchandise & Tickets
• Publisher Fees
• Digital
• Streaming

By Device Type:
• Mobile (Smartphone, Tablet)
• PC (Laptop, Desktop)
• Gaming Device (Console, Handheld Devices)
• Other (VR, Smart TV, etc.)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the esport industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.