China esports sector to rocket by 2020

The Chinese eSports sector is expected to reach 350 million users and $1.5 billion in market size in 2020, according to a report from Chinese gaming conglomerate Tencent, released on Tuesday.

According to China Money Network, which had access to the report, the eSports sector in China grew to RMB 5 billion with a user base of 250 million in 2017.

This number is expected to grow rapidly over the next few years, with the market to reach RMB9.7 billion and 350 million users by 2020 – accounting for 59 percent of global users.

In terms of revenue, China raked in a total of US$104 million from eSports in 2017, up 41 percent year-on-year.

North America saw revenues of $258 million in comparison, up 45 percent year-on-year. South Korea came in third, with only $49 million in revenue in the sector.

The report also found that contrary to popular perception, more than 20 percent of esports users are females and parents, with around 24.3 percent of overall esports users female.