One of China’s most prolific gaming companies expects big things for the country’s eSports industry. Tencent published a report on Tuesday stating that eSports in the country would reach 350 million by the year 2020, and would generate around $1.5 billion annually. Currently, the market is around 250 million, based on last year’s figures.

If Tencent’s predictions are correct, the growth could result in China accounting for around 59% of all users from around the world. The figures from last year showed an increase of 41% over the amount seen in 2016.

China is currently the second-largest market behind the US. Last year, China generated around $104 million from eSports while the US generated $258 million. The US market improved substantially from 2016, increasing by 45%. South Korea is ranked third, generating around $49 million from eSports.

According to a recent survey, 72% of those interested in eSports in China have established histories of watching eSports competitions. 36.6% of users only began watching competitions within the past two years and, for the first time in history; ‘blockbuster’ games attracted over 10 billion spectators – a new record.