According to the Federation of Electronic Sports Associations of India (FEAI), the overall size of India’s esports market would surpass Rs 1100 crore by FY25, with development coming on the back of cricket as more and more organisations work towards growing the esports ecosystem in India.
Also coming soon is a policy paper outlining the FEAI’s plans for the growth of esports in India. A cricket video game championship is being organised by FEAI and JetSynthesys.
Introduction to Esports in India
In the last 14 months, few sectors have seen their finances improve without any effort on their part. Especially in the sports business, where the losses have been staggering. However, there is still a portion of this that has come to light. The esports business as a whole has fared remarkably well despite the epidemic.
However, in this thread, we will initially discuss the state of the esports industry in India. The growth of esports game in India during the past year and its prospects in the coming years will be discussed. But first, let’s take a quick glance back at its worldwide and Indian performance over the past few years.
How it’s going in 2022 in India
The country has long been considered a promising market for a wide range of products and services. In spite of what the statistics on the economy say, consumer spending remains rising. The demographic sweet spot for Esports in India is Generation Z. Younger than any other generation before them, Gen Z is also the most digitally savvy. They are the ones who can make it a culture and advance it.
Consumers are now more interested in competitive video games and multiplayer experiences than in more relaxed games. Games like PlayerUnknown’s Battlegrounds Mobile (PUBG Mobile), FreeFire, and Valorant have exploded in popularity over the past year, and now everyone has at least one installed on their smartphone or gaming console.
Investments in India’s economy have been on the rise. Since April of this year, venture capital firms have poured $438 million into Indian gaming startups, reports the Investment Intelligence survey. The combined value of India’s esports startups was $68 million in FY 2020. Over the following three years, the sector is expected to grow at a CAGR of 36%.
Factors that have contributed thus far and that will continue to contribute in the future include a growing young population, widespread access to cellphones, rising economic spending, and an efficient distribution system. Publishers like Garena, Riot Games, and Krafton are throwing their weight behind Esports in India.
Must Read: A Guide to Acquiring the Best MP40 Skins from Garena Free Fire
What the Future Holds for India’s Electronic Sports
More than 300 million people in India are gamers, according to estimates from the gaming industry. Given the state of affairs, the industry is expanding and adapting. Some of the most important variables that will contribute to the industry’s expansion in the coming years are as follows.
Streaming in Real Time and the Rise in Audience Size
The gaming and esports industries will embrace streaming live content, leading to more viewers and more money. Streaming video games in real time and from multiple regions simultaneously will attract new viewers and build a dedicated following. The gaming sector, which is largely driven by millennials, gives its customers more ways to have fun and relax in their spare time.
Therefore, their adoration and attention will grow. India is home to some of the world’s most dynamic youth scenes and associated subcultures. It is one of the fastest growing marketplaces for Esports in India and video games because of its content and technologically advanced population.
Increase in Prize pool and Career Prospects
In recent years, and likely into the foreseeable future as well, the value of tournament awards and cash prizes has increased. Competitions between regions and cities, as well as commercial sponsorships, are on the rise in the world of esports.
As a result of the money at stake, more and more young people are giving esports and online gaming a go as a potential career path. There is a wide range of career options available. This would lead to a greater likelihood of the development of future gamers.
Esports in Education
There was a spike in the use of technology and the growth of businesses after the pandemic. It also helped the esports industry in India expand. The introduction of esports as a formal subject for study by students is planned.
Degree and certification programmes in esports are on the horizon in the academic world. Employers and those looking for work will both benefit from attracting top-tier trainers, athletes, and gamers. This will help build a community of gamers and esports organisations.
Collaborations between non-endemic brands and their financial success
The market is now open to the usage of non-endemic brand sponsorship and advertising. Although unrelated to esports per se, they would be interested in forming such collaborations because they provide a foot in the door to the esports community.
They’ll help them get noticed and build momentum for future of esports. They can broaden their portfolio of brands and increase the overall worth of their company as a result.
Running paid advertisements on popular esports channels, advertising products through in-game plug-in promotions, brand integrations, and sponsorship are all ways that advertisers hope to raise their profile, get their products in front of an engaged live audience, reach out to young people, and raise their profile in the esports market.
As a new entrant, you’ll be able to bring fresh ideas to the market and give brands more leeway to experiment. Because of the booming esports and gaming sectors, they will be able to tell their tales in a narrative style, but with a unique spin.
Since then, numerous angel investors and VC firms have shown interest in the esports industry. Esports monetization will reach a high as it continues to attract more and more financial backing from investors and advertising.
Increased Mobile Usage
BARC and Nielsen found that during the lockdown phase, the percentage of weekly mobile gamers increased from 60% in pre-covid periods to 68%. In addition, weekly mobile gaming time increased from 151 minutes pre-lockout to 218 minutes post-lockout.
More and more people all over the world are using cellphones, thus this figure is expected to grow. The availability of high-speed internet has also increased. With more people using smartphones, the market for competitive online gaming and the esports industry can only expand. The development of the esports industry in India will be greatly aided by this.
From humble beginnings, India’s gaming industry, notably Esports in India, has blossomed into a multibillion dollar business. Although it has experienced some failures, the industry is currently teeming with excitement, creativity, and potential. Capitalist investment, brand collaborations, and the proliferation of mobile devices are all contributing to India’s esports boom.
Stakeholders in the esports industry can no longer sit on their hands and should demand more of this sector. As we move forward into a more technologically run world, technology is one of the few things that adds value to all types of organisations, and the standard will only rise higher over time.
There will be more options for enthusiastic people to make a living in the esports industry as the business expands. The Future of esports predicted to have explosive growth and widespread interest in the next year 2023.
Must Read: Play and Win The U.S. Powerball Lottery From India!
