Esports is today among the fastest growing industries in the world, expected to leap from earnings of USD1.45 billion in 2023 to achieve approximately USD6.75 billion by 2030. Sharing exciting insights into gaming at the recent Limkokwing Creativity Series Talk, Philippe Wong, Chief Product Officer (CPO) at Entertainment Innovation Group (EIG), spoke about the vast opportunities arising within this sector.
“Although esports is gaining global recognition, the industry is still new. That means there are many avenues for new businesses and skills to support its growth,” he explained. He encouraged students to explore areas ranging from technology development to talent management, noting that the foundation is being set for further innovation in the industry.
Asia remains the largest market, with China, South Korea, and Japan at the lead. Southeast Asia, however, is rapidly emerging as one of the fastest-growing regions for this industry.
Wong attributes esports’ explosive growth to the ever-expanding player base and viewership. “The number of people who play games in the first place is staggering,” Wong shared. This massive audience has attracted brands looking to place their products in front of millions of eyes watching esports events, resulting in a significant increase in investment.
Wong also noted the role of government support in nurturing esports talent and creating a roadmap for the industry’s development. “Government support, especially in the form of talent development academies, has contributed significantly to making esports a thriving industry,” he emphasised.
Speaking about his own remarkable progress in esports, Wong said he began with Garena, a prominent gaming platform and his career evolved as he moved from Garena to startups, eventually leading him to the helm of EIG, where he is now building B2B technology solutions for the esports industry.
He attributes his success to his deep passion for gaming. Combining his extensive experience with his love for the industry, Wong provides a fresh and informed perspective on esports’ rapid growth and the numerous opportunities it offers to aspiring professionals and entrepreneurs.
Reflecting on his career, Wong shared a key lesson he learned: staying true to one’s passion. “Enjoy what you’re doing,” he advised. But more importantly, he highlighted the significance of focusing on the community. “Esports is very much a community-driven industry,” he said.
As esports continues to grow, Wong believes that educational institutions, such as Limkokwing University, play a pivotal role in shaping the industry’s future. With its specialisation in multimedia and technology, Limkokwing already possesses the infrastructure to support the esports ecosystem. Wong highlighted the importance of skills like broadcasting, content creation, and storytelling, all of which are integral to the esports experience. “These are already existing strengths of Limkokwing University, and they can be directly applied to the esports industry,” he remarked, emphasising the importance of interdisciplinary learning.
Wong’s insights underscored the industry’s dynamic nature, where new opportunities and innovations continue to emerge. Limkokwing University’s commitment to supporting students with the skills and knowledge needed to succeed in this space positions it as a key player in the future of esports education. Whether it’s event management, content creation, or technology development, the esports industry offers many opportunities for those willing to explore and innovate.
