The online gaming segment is expected to reach Rs 153 billion by 2024 at a CAGR of 15% to become the fourth largest segment of the Indian M&E sector, driven by innovations across NFTs, the metaverse and esports, as per the EY-FICCI report.
The number of Esports players doubled from 300,000 in 2020 to 600,000 in 2021, Esports revenue grew by 29% from INR7.5 billion in 2020 to INR9.7 billion in 2021, Esports teams also grew by over 50% from 60,000 in 2020 to 100,000 in 2021, The total prize money in 2021 crossed INR 200 million and there is also a meteoric rise in viewership, from 600,000 hours in 2020 to 2 million hours in 2021.
The growth seen in Esports is expected to continue in 2022, with the number of players reaching 1 million, out of which 20% would be women. India is expected to have 10 international esports teams by 2022.
As a result, the interest of brands in this segment is increasing, with 72 brands investing in 2021 (up from 45 in 2020) and expected to reach 100 brands in 2022.
India is also set to participate in the first-ever Esports competition in the 2022 Asian Games with games such as the EA SPORTS FIFA branded soccer games, an Asian Games version of PUBG Mobile and Arena of Valor, Dota 2, League of Legends, Dream Three Kingdoms 2, Hearthstone and Street Fighter V .