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The esports and online gaming industries have been expanding rapidly in recent years. Esports has amassed millions of fans worldwide and major sponsors, making it a multi-billion-dollar industry that is poised to rival traditional sports in revenue. Although the esports business is still in its infancy in India, the Ministry of Youth Affairs’ recent recognition of esports as a component of multi-sports events is a big milestone for the sector and will provide the ecosystem the much-needed boost. Esports can now be treated equally with regular sports thanks to the Indian government’s certification, which is an important step in the industry’s growth.
The esports market in India has tremendous growth potential. With a sizable young population (almost 600 million people under the age of 25), a quickly expanding middle class, and a strong gaming culture, India has all the makings of a big player in the world of esports. Furthermore, since people resorted to video games for entertainment during lockdowns, the epidemic also fueled the development of esports. According to Statista projections, India saw over 17 million esports watchers in FY 2021, which is nearly twice as many as during the pre-pandemic era in 2019. Additionally, it is predicted that 85 million people would watch esports events by the year 2025, making India one of the marketplaces with the quickest rate of growth.
Another report by FICCI-EY Media and Entertainment 2022 showed that the number of esports gamers in the nation increased by 2x in 2021, from 3 lakh to 6 lakh. Also, throughout that time, sales increased from INR 7.5 billion to INR 9.7 billion. Intriguingly, the report also noted that by 2022, women’s participation in India’s million-player gaming market is predicted to reach 20%. As more and more female streamers and gamers take the stage in the years to come, the trend is anticipated to intensify.
The year 2022 had been the most thrilling one yet for esports and gaming enthusiasts all across the world. As esports gained notoriety and legitimacy, the globe watched the inaugural Commonwealth esports Championship, where the Indian DOTA 2 team excelled and took home a bronze medal. Following the current trend, we are now prepared for the Asian Games, where esports will be acknowledged as a medal event, which was previously unimaginable. Another first for the esports business is the International Olympic Committee’s declaration that the Olympic esports Week will be held in Singapore in June 2023.
Strong viewership, improved accessibility, and worldwide awareness are some significant factors to keep in mind as the business continues to see a meteoric growth. As the gaming community is now so close-knit, esports has gained more mainstream recognition. With more professional teams preparing to compete in international competitions, 2023 may be the year that Indian esports make a name for themselves internationally as well.
The availability of gaming laptops, desktops, and displays with cutting-edge technology and innovation created to provide customers with the finest gaming experience is another factor that has contributed to the growth of esports. These devices are designed from the ground up to provide esports players and enthusiasts with an unmatched gaming experience in intense competitions.
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A few companies/brands have also established gaming academies and competitions with professional mentorship to help gamers and gaming enthusiasts improve their skills to compete and win the esports tournament and familiarise them with future opportunities in this environment. This has helped to further strengthen and uplift the Indian esports ecosystem.
There are some obstacles in the way, too. The majority of events are presently hosted online, and there aren’t many facilities specifically designed for esports. With the government’s recognition, it is reasonable to anticipate investments in esports technology and infrastructure, which will result in the construction of specialised esports arenas, competition sites, and training facilities and boost the nation’s overall economic growth.
A few challenges stand in the road as well. There aren’t many venues made expressly for esports, and the majority of competitions are now held online. Given the government’s recognition, it is realistic to expect investments in esports infrastructure and technology, which will lead to the development of specialised esports arenas, competition locations, and training facilities and accelerate the expansion of the country’s total economy.
Yet, the future of the Indian esports industry is brightening, and there are several ways that the sector will prosper in the next years. Establishing professional leagues, supporting esports startups, creating a national esports team, and incorporating esports into the educational system are a few possibilities that could come to pass. This would encourage young people to seek careers in the lucrative and fulfilling esports business. Esports has the ability to significantly impact the competitive sports market with the correct infrastructure investments, the creation of a thorough regulatory framework, and ongoing increase in popularity.
The nation has a significant competitive advantage thanks to its young population, embrace of technology, and availability of reasonably priced connectivity. The people of India are prepared for esports. India may overtake the United States as the largest esports market in the years to come if the sector can arm itself to address the major issues.
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