Over the past decade, India’s eSports industry has seen tremendous growth. This is due to an influx of youth playing online games and watching esports events on television, creating a new form of sport known as esports that’s garnering global recognition from within the game industry.
Indian eSports market
The Indian eSports market will expand at a CAGR of 12% during 2022-2028, due to several factors. One such factor is the growing popularity of mobile gaming among Indian gamers due to the increasing number of people owning smartphones that can access high-speed internet. Furthermore, cheaper smartphone prices and 5G networks in India are helping reduce data tariffs for consumers.
Another factor driving the Indian eSports market is the growth in digital payments. Deloitte’s Telecom, Media and Telecommunications Predictions report predicts that digital payments will account for 25% of total disposable income by 2021 in India, providing game companies with an opportunity to enter this segment and establish themselves in the Indian eSports industry.Look at BGMI GFX Tools.
Esports in India
Esports in India is becoming a growing phenomenon with young people and is becoming an increasingly attractive option for brands to promote their goods and services. This trend is due to young people already spending a considerable amount of money on video games and other electronic goods.
Esports also provides young people with an invaluable chance to advance their career and earn a comfortable living. That is why many Indian eSports players have started their own teams and earned lucrative salaries.Understand free FPS Games.
Most of esports’ revenue is via sponsorship. Tournaments offer brands an unrivaled platform to showcase their goods and services, which has led many major brands to partner with esports teams and leagues in order to promote their goods.
Esports events provide brands with an opportunity to connect with young audiences and cultivate relationships. Companies such as Pepsi, Red Bull and Flipkart have all jumped into this esports space in India.
However, esports in India is not without its challenges. Lack of a regulatory body and uncertainty over what ‘esports’ actually entail are two issues to handle regarding the growth of this nascent industry.
By the year 2025, the eSports industry is expected to be worth INR1 billion due to their growing popularity and the increasing prize pools associated with these tournaments.
By 2025, the industry is expected to have approximately 1.5 million players due to an increasing number of gamers who are taking up esports as either a pastime or career option.
Moreover, the industry is garnering international attention with major players in the global esports scene investing in India’s ecosystem. Recently, India’s government approved esports as a multi-sport and included it in the Asian Games 2022 which will take place in 2023.