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Report: India’s sports tech market driven by Fantasy Sports

February 13, 2025

The Federation of Indian Fantasy Sports (FIFS), India’s dedicated association for Fantasy Sports, has unveiled the findings of a report titled Beyond the Field: India’s Sports Tech Revolution. The report developed in partnership with Deloitte, shines the spotlight on India’s emerging sports-tech industry.

According to the report, the sports-tech industry is expected to grow at a CAGR of 13 per cent, from INR 26,700 crore (€2.9m) in FY24 to INR 49,500 crore by 2029.

The emerging industry comprises of three subsectors:

  1. Fan engagement that provides end-to-end sports experience to fans by offering them a means to engage with a sport, team, or athlete. This includes fantasy sports, ticketing experience, sports gaming etc
  2. Sports data & analytics that involve collecting and analyzing relevant historical statistics to help a team, athlete or business perform better.  This includes data providers, wearables etc
  3. Foundational technologies that underpin the sports tech industry. These include cloud computing, 5G, IoT, social media platforms, and digital payment solutions.
The Indian Fantasy Sports industry, a part of the Fan Engagement sub-sector, is the largest contributor to the sports-tech industry in India with revenues touching INR 9,100 crore in FY 24. The sector however is bracing for impact as a result of the change in GST laws. Not only is the sector expected to de-grow by 10 per cent in FY25, but the industry is also expected to post a reduced CAGR of 7 per cent for FY24 to FY29, compared to the earlier forecasted CAGR of 30 per cent for FY22 to FY27. This degrowth is driven by a whopping ~50 per cent hit on the FS companies’ margins as a result of companies absorbing the impact of increased GST. Further, the risk of retrospective taxation has made the investors wary of the sector with the investments going down by 90 per cent in 2023 and no new investments being made in the sector in 2024.

Speaking at a launch event, Minister of State for Youth Affairs and Sports, Smt. Raksha Khadse, said: “The way technology is being integrated through this partnership with Deloitte, along with other initiatives being taken, I believe this is very promising for the future of sports in India. The sports culture is gradually growing in our country, and it’s crucial for us to connect it with technology because we are in the era of AI. The role of sports technology will be particularly important in the coming days as it will help us better analyse athletes – where they stand today and how they can develop in the future.”

Joy Bhattacharjya, Director General at FIFS, commented: “The sports technology industry in India is poised to unlock new levels of athletic excellence, fan engagement and overall growth in the sports industry. It can be a critical lever in elevating the sports experience for both the fans and athletes. As India progresses in its sporting prowess, technology will play a key role in improving athlete performance, enhancing fan engagement to make sports a mass movement and enabling early identification and nurturing of talent. This combined with the development of world-class sports infrastructure will be pivotal in making India a sports superpower. For years, the FS industry has reflected the passion of sports fans, making the sports experience more engaging and immersive. As the industry stands at regulatory crossroads, it is imperative that India embraces the power of sports technology and encourages innovation through appropriate policies and regulations. A viable tax regime, robust and progressive national level regulatory framework, and industry-wide standards for responsible gaming will be key in unlocking the full potential of the FS industry.”

Prashanth Rao, Partner Deloitte India, added “India’s sports technology ecosystem is at an inflection point, with the market projected to grow at a 13 per cent CAGR to INR 49,500 crore by FY29. Technology especially with the advent of digital,  is not only providing data for enhanced athlete performance but is also creating immersive fan experiences, leading to increased multi-sport following across demographics and opening newer avenues of business and business-led collaboration. Fantasy Sports continues to be a key driver in this evolution, fostering deeper engagement and community building while also contributing significantly to employment generation and economic impact, with the industry expected to post a CAGR of 7 per cent until FY29 and create 17,500 direct and indirect new jobs by FY27. To sustain this momentum, a progressive and supportive regulatory framework is essential. While initiatives such as the Draft National Sports Policy 2024 are a step in the right direction, fostering innovation and ensuring long-term policy stability will be crucial in driving sustained growth. Strengthening India’s sports infrastructure, fostering sports-tech startups, and implementing balanced policies will not only elevate the sector but also position India as a global sporting powerhouse.”

Sports play a vital role in shaping the culture, economy and identity of a nation. Fans and sportspersons form the core of the entire sports ecosystem and are the primary driving force behind the advancement and popularity of sports.  The Government through the Draft National Sports Policy 2024 has reinforced its aims to strengthen the sporting culture and ecosystem from the grassroots to the national level and leveraging sports for economic development.

Sports Technology will play a key role in realising this objective by enhancing the experience for sports fans and analysing and improving athlete performance and training. While the sector is still in its nascent stage in India and poised to grow, there is already significant technology adoption in areas such as fan engagement, sports gaming, and data and analytics-based decision-making.

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