On Tuesday afternoon, Newzoo, a research firm that provides gaming information and analytics released their “2019 Global Esports Market Report” which suggests that, for the first time ever, the esports market will accrue over $1 billion in revenue in a calendar year.

According to their study, revenues are expected to reach $1.1 billion, a growth of just under 27% from the year before. Of that $1.1 billion, is it estimated that 82% of that revenue will come from endemic and non-endemic brand investments such as sponsorships, advertising, and media rights. Sponsorship, according to the study, will make up slightly over half of that amount.

Outside of the revenue that the industry is set to bring in for 2019, Newzoo projects that the global esports audience will grow to 453.8 million individuals who will have watched one event around the world. That represents a growth of 15% from 2018, according to the study.

The study also suggests that a global shakeup will occur in terms of which region will generate the most revenue in the calendar year.

Aside from North America, the largest esports market in the world-- expected to accrue a revenue of $409.1 million-- China is expected to overtake Western Europe as the second highest revenue driven region at slightly over $210 million. That leap-frog in the standings is in spite of the fact that China lags behind the other heavyweights in terms of acquiring game licenses to popular titles across the world.