eSports: A new solution to the labor problem
26 Apr, 2023
In recent years, the explosion of technology has helped new inventions change how businesses operate, and it would be a mistake not to mention the craze called "gamify". The "gamification" movement has had a positive impact on many fields, including education, healthcare, business, and society. Besides, "gamification" does not stop at one technology but combines many other advanced technology solutions that businesses need to learn and grasp.
The Era of technology adoption and continuous improvement:
In the digital age, the use and advancement of technology have become a prerequisite for businesses. It helps companies to improve productivity and efficiency and enhances competitiveness and market adaptability.
According to a study by McKinsey & Company, large companies that have adopted technology and become technology leaders have experienced tremendous revenue growth and cut copious amounts of operating costs. A typical example is Amazon; they have applied technology to optimize the process and deliver products to customers quickly and accurately. However, today's technology application no longer stops at just buying and using mechanically; businesses also need to constantly research, change and evolve the technologies in their hands to be in a state of updated world. This requires businesses to regularly monitor, evaluate and ensure that the technology solutions are constantly modified to operate efficiently and in line with the market's needs.
A convergence of top-notch technologies
Source: Esports broadcasting and production
According to the article "What is Esports and why people watch it?" , the term "eSports" - esports is a combination of two fundamental concepts, “sports” and “electronics,” often used to refer to sports content that uses the script of video games or simulates traditional sports on digital platforms to compete between athletes (professional players). E-sports also have their own competition rules and performance calculations based on real sports (if any). To be called e-sports, it does not stop at simple video games but also must ensure professionalism and fair competition among participants. More simply, we can understand "e-sports" as participating in a match and competing in "video games" professionally. In short, we can understand Esports as the result of the process of "gamification" of the definition of sports.
Esports is one of the fastest-growing industries in the world and is being heavily invested in technology. One technology that is being widely adopted in Esports is 5G technology. With faster data transfer speeds, lower latency, and greater processing capacity, 5G can help enhance users' gaming experience. Esports tournaments also use 5G to deliver high-quality images and sound to audiences worldwide.
In addition, streaming technology also plays a significant role in eSport. Esports tournaments can be broadcast live on many online platforms such as Twitch, YouTube, and Facebook, helping to attract millions of viewers worldwide. Streaming technology also allows teams and individual players to live to stream their gameplay and capture fans' interest.
In addition, innovative technologies such as online virtual reality and augmented reality are also being applied in eSports to enhance the user experience. For example, Intel has developed a VR game called Project Alloy, which allows players to interact with the game using their hands and feet. Applying advanced technologies in eSports enhances the gaming experience, creates a professional competitive environment, and attracts a broad audience. According to Newzoo's report quoted by Brands Vietnam magazine, in 2020, the number of people watching the eSports tournament globally reached 435.9 million viewers, with wholesale revenue reaching the threshold of 1 billion USD. This clearly shows the interest and potential of eSports in the future, and adopting new and advanced technologies will help develop the eSports market even further.
The flagship of a digital era
The growth of the eSports industry has created many new jobs. According to research by Robert Walters, the number of eSports-related jobs doubled in 2018 and is expected to increase further. The statistics have shown that the number of online viewers of eSports tournaments globally has reached 443 million, expected to increase to 646 million by 2023. In addition, the global eSports market reached a value of $1.08 billion and is expected to grow to $1.62 billion by 2024. Not out of the trend, Vietnam's eSports market is worth about 30 million USD and is expected to grow more than 16% annually from 2020-2025.
Newzoo also pointed out that the cost of gaming gear is expected to hit $13 billion by the end of the year. Manufacturing companies are also racing to research and launch new product lines to meet the needs of the gaming community. Another abundant cash flow of the industry comes from eSports organizations spending a lot of money on developing and updating technology in games and tournaments. Riot Games - the game company of many famous titles, has spent about $ 100 million to build and stabilize the quality of games and tournaments at many levels. In addition, digital media organizations quickly spend on the rights of tournaments of many varied sizes best to serve the audience's requirements. The impressive achievements have reflected the profound interest of the community and businesses in the organization and preparation of this particular sport.
It can be seen that eSports is a rapidly growing field and increasingly becoming a market with economic potential in the world, and Vietnam is no exception. eSports-related activities have significantly impacted many economic factors in Vietnam, including the labor market, society, education, and technology.
For the labor market in particular, the growth of the eSports industry can open a whole new horizon for workers. Many new professions have and will continue to emerge with competitive incomes, such as event managers, production managers, developers, media specialists, and many professional players;... According to VTV's report, the eSports sector in Vietnam has helped create more than 20,000 direct jobs and, at the same time, promoted neighboring sectors such as media, business, services, ... Professions related to event management, multimedia communication, and marketing... are considered the industries with the most opportunities, besides economics, the production also benefits from eSport.
According to the Circular of the Ministry of Industry and Trade, the field of manufacturing, importing, and distributing eSport accessories is considered one of the promising industries in the electronic components manufacturing industry. In addition, industries related to science and technology will also go up with the development of Esport. To meet the strict requirements of players, game makers will need to look for companies, graphic designers, operations, and programming specialists... to expand the market. This will solve the problem of the need for more jobs in Vietnam's right industry. According to many different reporting sources, Newzoo and Vietnamnet,... eSports events have spread substantially among the young Vietnamese community. This contributes to tightening community members' relationships and creating creative and diverse cultural values.
Overview of gaming creators in Vietnam according to Apota Group
With all the achievements that have been achieved in recent years, eSports has many expectations to develop into a playground for the new era - where the quintessence of people and technology converge. In addition, with the wave of "digital transformation" taking place extremely firmly, eSports will also be an ideal bridge to bring people closer to technological heights. With the goal of globalization and comprehensiveness, eSports will promise to be a hot topic to be exploited in Vietnam.
Bibliography
https://www.statista.com/topics/8874/esports-market-in-vietnam/#dossier-chapter1
https://vtv.vn/kinh-te/nganh-cong-nghiep-game-dat-doanh-thu-ky-luc-20211228161357359.htm
https://academyonline.uefa.com/fame/Repository/KissDocument/16005001/3/2/1/8/16005001.pdf
https://vero-asean.com/wp-content/uploads/2021/09/Esports-Whitepaper_EN.pdf
https://advertisingvietnam.com/vero-launches-a-whitepaper-on-the-esports-industry-in-vietnam-p18077
https://forbes.vn/esports-viet-vuon-minh
https://vi.wikipedia.org/wiki/Th%E1%BB%83_thao_%C4%91i%E1%BB%87n_t%E1%BB%AD
News, photos: Department of Student Affairs UEH
