The year 2023 has been a monumental one for the Indian eSports industry, marked by significant milestones and remarkable growth. The ‘Levelling Up: State of India Gaming FY’23’ report by Lumikai and Google reveals some impressive numbers: 568 million gamers called India home in FY23, and the gaming market reached an astounding $3.1 billion in FY23. Even more exciting is the forecast that projects the market to skyrocket to $7.5 billion by FY28, growing at a compound annual growth rate (CAGR) of 20%.
Indian eSports stakeholders reflect on a historic year for the video-gaming industry; share outlook for the upcoming year
One of the standout moments of the year was when eSports made its debut as an official medal sport at the Asian Games 2022. The Indian team’s participation and the impressive fifth-place finish in the League of Legends team underscored India’s rising status on the international eSports stage. Adding to these victories, S8UL, India’s premier eSports organisation, bagged the inaugural ‘Global Impact on Mobile Gaming’ at the MOBIES Awards and the ‘Content Creator of the Year’ award at the Global Esports Awards 2023.
Reflecting on these achievements, Animesh Agarwal, also known as 8Bit Thug, Founder and CEO of 8Bit Creatives and S8UL, said, “The global recognition, including our talented contingent’s performance at the Asian Games 2022 and S8UL’s unparalleled success, elevated the industry’s status. The stigma around gaming as a career choice has faded away, paving the way for aspiring gamers and legitimizing Esports as a respected profession.”
2023 also saw a transformative influx of brands into the eSports ecosystem. The title sponsorship of Team SOUL by IQOO SOUL stands out as a significant example. Agarwal highlighted the importance of this trend, saying, “The entry of non-endemic brands into the gaming space and the rise of official tournaments have reshaped the industry landscape. IQOO SOUL’s title sponsorship with IQOO underlines the expanding scope of Esports sponsorships with brands across all sectors. The influx of non-endemic brands provides both financial support and wider visibility to gaming creators, organizations, tournaments, and other Esports events.”
The Indian government’s amendments to the Information and Technology (IT) Act played a crucial role in distinguishing Indian eSports from real money gaming (RMG), providing legitimacy to the sector and leading to increased sponsorships and investments.
States like Madhya Pradesh, Bihar, and Uttar Pradesh took proactive steps, launching initiatives like the country’s first esports academy and tournaments. Educational institutions also embraced eSports, integrating it into their curriculum.
Lokesh Suji, Director of Esports Federation of India (ESFI) and Vice-President of Asian Esports Federation (AESF), shared his thoughts on these developments, saying, “The future of Esports in India is incredibly bright. Thanks to ESFI’s consistent efforts, the Indian government officially recognized eSports as a multi-sport event and categorized it under the Ministry of Youth Affairs and Sports in December 2022. Beyond official recognition, infrastructure development is vital for the sustained growth of the eSports industry. Government and state initiatives have set the stage for potential financial backing and infrastructure growth in the years to come. Esports now proudly stands alongside traditional sports in the country, attracting more players and sponsors to the industry.”
After its temporary hiatus, the triumphant return of Battlegrounds Mobile India (BGMI) this year was an instrumental factor for the Indian eSports industry. Emphasizing the resilience and growth, Mr. Rohit Agarwal, Founder & Director, Alpha Zegus noted, “Content solutions have been our top priority in 2023, and it has been an incredible year for us. Titles like BGMI had a comeback that boosted the eSports industry by more than 4x factor, while publishers like RIOT took serious efforts and made massive investments into the Indian gaming space.
In numbers, we generated more than 400 pieces of quality content for our partners and saw a 300% growth in content solutions as compared to 2022. In 2024, our efforts are going to continue towards content solutions and experiential marketing, expanding our base to different regions, and bringing more quality to our work.”
Ashwin Haryani, Country Head- India, Ampverse, on Gaming trends observed in 2023 and 2024 upcoming trends:
This year has been an exhilarating journey in gaming. Esports continued its meteoric rise, drawing in massive audiences and offering unprecedented prize pools. Multiple events occurred this year and brought in considerable footfall. We launched our first IP in India called College Rivals, a pan-India esports tournament wherein we give college students a chance to compete and play with the top players across the country. Events like this witness significant footfalls both online and on ground. With College Rivals alone, we saw over 70,000 registrations amongst college students and received over 65 million views across all our platforms.
As we transition into 2024, the trajectory indicates a sustained growth in the esports sector. The dynamic interplay between leading brands, such as Ampverse, and the vibrant gaming community sets the stage for continued expansion and innovation in the Indian esports landscape. Mobile gaming will soar through the charts in 2024 and beyond. 85% of gaming in India happens through mobile and the inclusion of 5G, this number can easily be seen towards growing. These numbers look to increase the amount of gamers and also drive the Indian Mobile gaming market to a higher level.
As Esports continues its ascent as a global phenomenon, the inaugural Esports World Cup 2024 and the entry of streaming giants like Netflix and YouTube into gaming signal a revolutionary shift for Indian eSports in the upcoming year. The convergence of these factors, coupled with other trends, promises a dynamic and transformative year ahead.
