Fantasy Sports
Indian sports tech market to hit INR 49,500 crore by 2029: Report
Meanwhile, revenues of the Indian Fantasy Sports industry touched INR 9,100 crore in FY 24.
The findings of the FIFS-Deloitte report underscore the potential of the sports technology market in India. (Photo Credit: SAI)
The Federation of Indian Fantasy Sports (FIFS), India's dedicated association for Fantasy Sports, on Thursday, unveiled the findings of the report titled 'Beyond the Field: India's Sports Tech Revolution' in the presence of the Minister of State for Youth Affairs and Sports, Smt. Raksha Khadse.
The report, developed in partnership with Deloitte, shines the spotlight on India's emerging sports-tech industry.
Growing at 13%
According to the report, the sports-tech industry is expected to grow at a CAGR of 13%, from INR 26,700 crore in FY24 to INR 49,500 crore by 2029.
The Indian Fantasy Sports industry, a part of the Fan Engagement sub-sector, is the largest contributor to the sports-tech industry in India with revenues touching INR 9,100 crore in FY 24.
Speaking at the launch event, Smt. Raksha Khadse said, "The way technology is being integrated through this partnership with Deloitte, along with other initiatives being taken, I believe this is very promising for the future of sports in India."
"The role of sports technology will be particularly important in the coming days as it will help us better analyze athletes - where they stand today and how they can develop in the future," he added.
Speaking at the launch event, Joy Bhattacharjya, Director General, FIFS said, “The sports technology industry in India is poised to unlock new levels of athletic excellence, fan engagement and overall growth in the sports industry. It can be a critical lever in elevating the sports experience for both the fans and athletes."
"As India progresses in its sporting prowess, technology will play a key role in improving athlete performance, enhancing fan engagement to make sports a mass movement and enabling early identification and nurturing of talent. This combined with the development of world-class sports infrastructure will be pivotal in making India a sports superpower."
A viable tax regime, robust and progressive national-level regulatory framework, and industry-wide standards for responsible gaming will be key in unlocking the full potential of the FS industry,” he added.
Honourable Minister of State for Youth Affairs and Sports, Smt. Raksha Khadse during the launch of the FIFS-Deloitte report. (Phot credit: SAI Media)
Role of sports tech
Sports play a vital role in shaping the culture, economy, and identity of a nation. Fans and sportspersons form the core of the entire sports ecosystem and are the primary driving force behind the advancement and popularity of sports.
The Government through the Draft National Sports Policy 2024 has reinforced its aims to strengthen the sporting culture and ecosystem from the grassroots to the national level and leveraging sports for economic development.
Sports Technology will play a key role in realizing this objective by enhancing the experience for sports fans and analyzing and improving athlete performance and training.
While the sector is still in its nascent stage in India and poised to grow, there is already significant technology adoption in areas such as fan engagement, sports gaming, and data and analytics-based decision-making.
