NEW DELHI: The Federation of Indian Fantasy Sports (FIFS), India’s leading association for fantasy sports, unveiled its latest report, Beyond the Field: India’s Sports Tech Revolution, in collaboration with Deloitte.
The report highlights the rapid growth and evolving landscape of India’s sports technology sector.
It was released in the presence of Honourable Minister of State for Youth Affairs and Sports, Raksha Khadse
According to the report, the sports-tech industry is projected to grow at a Compound Annual Growth Rate (CAGR) of 13%, expanding from ₹26,700 crore in FY24 to ₹49,500 crore by 2029. This emerging sector is categorized into three key sub-sectors:
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Fan Engagement: Enhancing the sports experience through fantasy sports, ticketing, and sports gaming.
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Sports Data & Analytics: Utilizing data collection and analytics for better athletic and business performance, including wearables and data providers.
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Foundational Technologies: Enabling growth through cloud computing, 5G, IoT, digital payment solutions, and social media platforms.
The Indian Fantasy Sports (FS) industry, a major contributor to the fan engagement segment, recorded revenues of ₹9,100 crore in FY24.
However, it faces a downturn due to recent changes in the Goods and Services Tax (GST) regulations.
The sector is projected to shrink by 10% in FY25, with its growth forecast downgraded to a 7% CAGR for FY24-FY29—far lower than the previously expected 30% CAGR for FY22-FY27.
Industry experts attribute this slowdown to a nearly 50% reduction in margins, as companies absorb the impact of increased GST.
Investor sentiment has also taken a hit, with investments in the sector declining by 90% in 2023 and no new investments recorded in 2024.
Addressing the report launch, Raksha Khadse emphasized the importance of integrating technology with sports. “We are in the era of AI, and sports technology will be crucial in analyzing athlete performance and fostering growth in India’s sporting culture,” she stated.
FIFS Director General Joy Bhattacharjya echoed this sentiment, noting that sports technology has the potential to elevate India’s sports industry. “Technology will enhance fan engagement, improve athlete performance, and support talent identification. However, the FS industry needs a stable regulatory framework, a viable tax regime, and industry-wide standards for responsible gaming to thrive,” he said.
Deloitte India Partner Prashanth Rao highlighted the broader industry impact, projecting the creation of 17,500 direct and indirect jobs by FY27.
“While fantasy sports remain a key driver, policy stability, support for sports-tech startups, and enhanced infrastructure will be critical to sustaining growth,” he remarked.
The Government’s Draft National Sports Policy 2024 aims to strengthen India’s sports ecosystem from the grassroots to the national level. Sports technology is expected to play a pivotal role in achieving this vision, offering advanced tools for fan engagement, training analytics, and athlete development.