The Indian eSports market is projected to grow at a CAGR of 35.4% during the forecast period 2019-2023. This growth can be attributed to various factors such as increasing disposable income, rising youth population, and growing awareness about eSports among people in India. The country’s eSport enthusiasts are mainly from the age group of 16-35 years, indicating that there is a large potential for future growth in this segment. India currently has around 25 million eSport enthusiasts and this number is expected to reach 50 million by 2023. In this blog post, we will take a closer look at the Indian eSports market and highlight some of the key trends and opportunities present in this space.
Popularity of eSports in India
India is a rapidly growing market for eSports, with a report by Goldman Sachs estimating that the industry will be worth $1 billion by 2022. This is due to a number of factors, including a young population with a strong interest in gaming, good internet infrastructure, and a growing number of professional teams and tournaments.
However, there are also some challenges to the growth of eSports in India, such as a lack of awareness among the general population and government support. Nevertheless, the eSports industry in India is expected to continue to grow in the coming years.
Current scenario of eSports in India
Today, eSports is a booming industry with a global audience of millions. And India is no exception. In recent years, we’ve seen a surge in the number of professional gamers and eSports tournaments in the country. This is due to a number of factors, including the increasing popularity of online games, the easy availability of high-speed Internet, and the growing investment from corporates and sponsors.
As a result of this, India is now home to some of the best professional online gamers In the world. We’ve also seen a number of successful eSports tournaments being held in the country, with huge prize pools on offer. And this is just the beginning. In the coming years, we expect to see even more growth in the eSports industry in India.
Market potential and growth prospects of eSports in India
India is a key market for the global eSports industry, with a large and passionate gaming community, as well as a growing number of professional gamers and tournament organizers. The eSports market in India is still in its infancy, but it has significant potential for growth. According to a recent report by KPMG, the Indian eSports market has grown from USD 8 million in 2016 to USD 1 billion by 2021.
This growth will be driven by factors such as the increasing penetration of broadband Internet and mobile devices, the growing popularity of online gaming, and the rising number of organized eSports tournaments. In addition, major brands are beginning to invest in eSports in India, which will further drive growth in the market.
Major Factors that are driving the growth of eSports in India
There are a number of factors driving the growth of eSports in India.
- First and foremost, there is a growing interest in competitive gaming among young people.
- Thanks to the popularity of online game streaming, more and more people are aware of eSports and are eager to watch or participate in tournaments.
- In addition, there is a growing number of professional gamers in India who are attracting attention and investment.
- Finally, a number of corporations and organizations are now supporting eSports events and teams, which has helped to legitimize the industry.
Challenges that need to be addressed for the growth of eSports in India
There are several challenges that need to be addressed for the growth of eSports in India. One of the biggest challenges is the lack of infrastructure. There are very few dedicated eSports arenas or stadiums in India. This means that most eSports events are held in small venues that are not designed for gaming. This can lead to problems with sound and lighting, which can affect the quality of the event. Another challenge is the lack of support from sponsors.
eSports is still a relatively new concept in India, and many companies are not yet familiar with it. As a result, there is a lack of investment from sponsors, which can limit the growth of the industry. Finally, another challenge is the lack of awareness about eSports among the general public. Many people in India still do not know what eSports is, and as a result, they are not interested in watching or playing it. These are some of the challenges that need to be addressed for the growth of eSports in India.
How to make eSports more popular in India
In recent years, eSports have become increasingly popular around the world. India is no exception, with a growing number of fans and participants. However, there are still some barriers to making eSports more popular in India.
- One challenge is access to reliable internet connections. Many rural areas in India do not have reliable internet access, making it difficult for potential fans to watch matches or streams.
- Another challenge is a lack of awareness about eSports. Many people in India are not familiar with the concept of competitive gaming, and as a result, they are not interested in watching or playing.
- Finally, there is a lack of infrastructure for hosting eSports events. There are few dedicated gaming venues in India, and most events are held in small hotels or convention centers.
Future outlook for eSports in India
In recent years, eSports have become a global phenomenon, with millions of players and spectators around the world. India is no exception, with a growing number of eSports fans and tournaments being held across the country. However, there are some challenges that need to be addressed in order for eSports to really take off in India.
- Firstly, there is a lack of infrastructure and support from the government.
- Secondly, most Indians are not familiar with eSports, and there is a lack of awareness about the opportunities that it can provide.
- Lastly, there is a lack of investment in eSports in India, both from private companies and from the government.
Despite these challenges, there is reason to be optimistic about the future of eSports in India. The popularity of gaming is on the rise, and with the right support, eSports could become a major industry in India.
The market potential for eSports in India is significant and presents a lucrative opportunity for brands to invest in. With an ever-growing fan base, rising income levels, and increasing technological penetration, eSports offers a unique platform to connect with consumers. If you are looking to enter the Indian market or expand your reach within it, then eSports should be on your radar. Have you considered investing in this burgeoning industry?