India, one of the world’s fastest-growing economies and home to over 1.3 billion people, has emerged as one of the most lucrative markets in recent times for esports!
Till last year, India stands at no. 17 globally in the soon to be a billion-dollar industry market. With the growth in professional gaming in India, improved infrastructure like increase in the number of avenues for gamers to participate increased internet penetration and the rising purchasing power of the consumers, gamers can now look at gaming as a professional career choice rather than just a hobby or a leisure activity.
With an estimated net worth of $818 million, the Indian eSports industry is set to grow into a staggering $1.1 billion industry and with revenues of INR 43.8 billion in FY18 which is believed to increase all the way up to INR 118.8 billion in 2023, foreign eSports giants are keeping a firm eye on India and have already started investing heavily into the market.
With an ever-expanding market, a number of global eSports giants like Yoozoo Games, Tencent games and a dozen more companies are setting up their counters in India and investing millions. With over 120 million online gamers at present and billions of dollars up for grabs in revenue, everyone wants a piece of the pie.
If India needs to get serious about esports, it needs academies, investment, and even changes to the policy. PC parts and peripheral maker ASUS, which also has a long history of supporting esports, and boasts of a rich portfolio of gaming products, is already supporting a fully sponsored esports team in India, says Leon Yu, the regional director, India, for ASUS. And what does ‘fully sponsored’ mean? By fully sponsored, Yu means that the company is paying salaries to the gamers, paying for their travel when participating in foreign tournaments, working on convincing players’ parents that pro-gaming as a viable career path, handling their training, and more.
The scope is there, but farsightedness should prevail as well to absorb the benefits of a million-dollar industry!
