Advertisement
What are the Next Big Opportunities for Indian Esports Startups?
At the moment, India only makes up 1% of the global gaming market, well behind China and the US. Read to know more about the next few opportunities.
Image Credit: thedrum
Advertisement
The sector’s rapid growth is now tilting the scales, though. The Indian esports market is predicted to increase to a value of Rs 11 billion by 2025.
Growth Path
It may be claimed that esports are happening at the right time. Affordable internet services, elevated 4G connectivity, and inexpensive smartphones are moving this market into the next. With 658 million users, India has the second-largest internet user population in the world. Many of these customers are young, tech-savvy, and open to trying out new kinds of entertainment, like mobile gaming. More than 20% of iOS and Android apps currently consist of games, and that figure is anticipated to rise.
The majority of Generation Z and younger millennials make up the target market for esports businesses. Online gaming is no longer an expensive pastime for young urbanites who can afford it. In addition to metro areas, esports are becoming more and more popular in Tier 2 and Tier 3 cities. With more individuals going online, more people owning smartphones, and more people enjoying local content, viewership in the hinterlands will likely increase. Gaming currently generates $1.5 billion in revenue in India. As the user base grows, the amount could much more than triple to $5 billion by 2025.
Entertainment Spends
In India, esports as a type of entertainment are just starting to gain traction. Even though they had been around for more than 10 years, the majority of Indian consumers only started to become engaged in virtual games during COVID lockdowns. Video games now account for 25% of Gen Z’s personal entertainment. Live-streamed esports contests attract sizable viewers, just like cricket, soccer, and tennis matches. People who paid for movie tickets or IPL tickets are now just as thrilled to pay for esports.
Free-to-play video games won’t be gone soon. However, as the popularity of professional gaming increases, even casual players are starting to take esports more carefully. Players these days enthusiastically accept pay-to-play models and in-game purchases as a result. Social media game industry influencers raise the stakes. These influencers, who combine gaming knowledge and passion, provide news and reviews of games while encouraging their followers to play more.
Monetizing Esports
Advertisement
Major companies are taking notice of and making investments in the expanding viewership. Large corporations have already gotten engaged by financing professional esports teams and tournaments, including Coca-Cola, Dell, Mountain Dew, Oppo, and Logitech. The benefits of all of this interest are felt by every player in the esports ecosystem. If things continue in this direction, the prize pool for professional players might reach Rs 1 billion by 2025.
Esports have the potential to overtake traditional sports betting in India. Profits from fantasy league games may result from efficient regulatory rules that support them. Because esports is a technologically oriented sector, there have been suggestions of using contemporary securities such non-fungible tokens (NFTs). By converting virtual avatars, in-game rewards, and streaks into NFTs, businesses may be able to increase revenue streams and customer retention.
Esports Careers
In India, the gaming industry now employs around 40,000 people. That number could reach two lakhs by 2024. Jobs in the gaming sector will benefit as well from increasing public appeal. The Olympics and Asian Games’ esports competitions have raised interest in gaming-related vocations. With the industry’s continued growth, virtual gaming events will happen more frequently. The number of jobs accessible to designers, programmers, and content creators would expand as there would be more events.
Other jobs in the esports sector include game commentators, data handlers, and event organizers. A career in esports also encompasses vocations outside of the video game industry. For instance, a game designer might hunt for employment with businesses that focus on special effects, visual design, or animation.
The Future Route
Despite its rapid growth, the esports business is still mostly unstructured. In this situation, a close-knit gaming community could be able to help. By 2025, there may be 1.5 million professional esports players and 85 million viewers of esports events. This quickly expanding sector affects entertainment, jobs, and the economy. As digital consumers turn their attention away from sports events and toward digital worlds, esports will become the sport to watch.
“Get more sports news, cricket news, and football updates, log on to sportsdigest.in. Follow us on Facebook or Twitter and Subscribe to our YouTube Channel.”
Advertisement