India’s Sports Technology Industry is on An Upward Trajectory, with Projections Indicating it will grow from Rs 26,700 Crore in FY24 to Rs 49,500 Crore by 2029, at A 13 percent CANT CAGR. A new report, beyond the field: India’s Sports Tech Revolution, Released by the federation of Indian Fantasy Sports (FIFS) and deloitte, highlights how technology is responses’
While fan engine, sports data, and foundational tech are all playing key roles in this evolution, fantasy sports (FS) have been the industry’s biggest driver. However, recent tax changes have put a dent in its growth, Forcing Companies to Retink their strategies. The report sugges that while sports gaming remains a powerhouse, it is at a regulatory crossroads, with the right policies Needed to Unlock its full potential.
Fantasy Sports: A Leader Slowing Down
For years, Fantasy Sports (FS) has been at the heart of India’s Sports Tech Boom. In FY24 Alone, The Sector Generated RS 9,100 Crore, Making it the Larget Contributor to the Industry. Millions of Indian Sports Fans Have Turned to FS Platforms, Using their Knowledge of Cricket, Football, And Other Sports to Create Fantasy Teams and COMPETE BASED on Real-Life Match Performances.
However, the industry is now feeling the heat. The Introduction of a 28 per cent on Deposits (Instead of the Previous 18 per cent on Gross Gaming Revenue) Has significantly impacted revenue, with companaes absorbing Nearly 50 per cent losses The report predicts a 10 per cent decline in fy25 and a more modest 7 per cent Cagr growth until FY29, a stark contrast to the 30 per cent growth rate projected earlier for2227.
Joy Bhattacharjya, Director General of Fifs, Acknowledged The Industry’s Uncertain Future, Noting That FS Has Has Has Has Long Been A Symbol of Sports Fandia, Making The Experience more IMMMERISITE and English. He also stressed that if India is to fully harness sports technology, it must create a viable tax system and clear regulations that allow innovation to Thrive.
He further added, “for years, the fs industry has reflected the passion of sports, making the sports experience more engine more engine and immersive. As the industry stands at regulatory crossroads, it is imperative that India embraces the power of sports technology and encourage innovation through appropriate applications and regulations. “
Gaming’s Impact: More than just fun and games
The Rise of Fantasy Sports, Esports, And Digital Gaming Has Not Only Transformed Fan Engagement, But also also Had a Major Economic Impact. According to the report, the FS sector alone is expected to create 17,500 new direct and indirect jobs by fY27. Additionally, these platforms contribute significantly to government revenue, with Rs 5,800 crore paid in taxes from FY18-FY23.
Prashanth Rao, Partner at Deloitte India, BELIEVES That Gaming is Playing A Bigger Role in India’s Sporting Culture Than Ever Before. He stated that digital innovations have created immersive fan experiences and expanded multi-sport interest interesting decision Demographics, Turning Sports Gaming Into a mainstream entertainment Catertiary.
Despite the current Slowdown, FS Remains A Vital Piece of India’s Sports Economy, Influencing Advertising, Sponsorships, and Fan Engagement Strategies. Millions of users actively participating in fantasy leagues, the industry has successfully built a digital-first, data-driven spects ecoTs ecoTem that is shaping the way fans interacts.
The Road Ahead: Can Fantasy Sports Bounce Back?
While the fantasy sports market is facing hurdles, there is still PLenty of Optimism for the future. The draft National Sports Policy 2024 has across the Role of Technology in Sports Development, and Industry Leaders are hopable that a balanced Regulatory Approach can help the second momentor.
The report sugges that the next phase of growth will come from more innovation in areas like ai-driven team selection, real-time analytics, and enhanced in-government. Furthermore, with Increased Smartphone Penetration, Cheaper Data, and a Growing Essports Culture, Sports Gaming is Expected to Evolve Beyond Traditional Fantasy Leagues.
For Fantasy Sports Platforms, Survival will depend on adapting to new taxation structures, creating more engaging experiences, and Finding Alternative Revenue Streams. If Regulatory Clarity is provided and gaming-friendly policies are introduced, India’s Sports Tech Industry Cold Still Realise its full potential, keeeping millions of fans engaged and the Economy Thriving.