Sports Technology Market in India, including apps, devices, sensors, etc., expected to increase by 85% in the next four years, up to Rs 49,500 crore in the next four years, a joint of Fantasy Games Body Federation of Indian Fantasy Sports and Deloitte The report said on Thursday.
The report estimated that India’s Sports-Tech market produced Rs 26,700 crore in revenue in the financial year 2024 and the financial year is estimated to increase at an annual growth rate of 13% by 2028-29.
“India’s sports technology ecosystem is at a divine point, it is estimated to increase by 13% CAGR in the market to Rs 49,500 crore by FY 29,” said Prashant Rao.
He said that the arrival of digital technologies is not only providing data for the performance of athletes, but is also creating immersive fan experience, which has increased multi-game after demographics and newly enhanced business and business cooperation To open the path.
“Fantasy Sports remains a major driver in this development, promotes deep engagement and community building, while employment makes significant contribution to generation and economic influence, posting CAGR of 7% by FY29 with industry and 17,500 direct and direct and Expected to create newly new. Jobs by FY27, “said Rao.
The report includes fan engagement, sports data and foundational technologies for analytics and launch.
The GST imposed by the government on the fantasy sports industry was at 28%, which is similar to the gambling tax rates, which led to silence for the region in the next few years.
According to the report, fantasy sports sector is expected to increase by 10% in FY25, but the industry expects to post less CAGR of 7% for FY24, while 30% for 30% before 30% FY22 to FY27 compared to forecast of.
“This decline is inspired by the hits of fantasy sports companies as a result of the companies absorbing the impact of GST,” the report said.
Post GST Rules on Fantasy Games, Investment in the segment has reduced by 90% in 2023 and no new investment is being made in the sector in 2024
Director General of Joy Bhattacharjya, Director General said that the sports technology industry in India is ready to unlock the new levels of overall development in athletic excellence, fan engagement and sports industry.
Bhattacharjya said, “This can be an important lever to enhance sports experience for both fans and athletes.”
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