Boom time for Indian Esports on back of Asian Games glory, Metaverse, Govt push

Indian Esports is witnessing a meteoric rise, and 2024 promises to be even more spectacular. With a rapidly growing player base and surging revenue, the industry is set to become a major force both at home and on the global stage.

The inclusion of Esports as a medal sport in the 2026 Asian Games has ignited a nationwide spirit of preparation. Aspiring gamers are gearing up to represent India on the world stage, fueled by the support of the Esports Federation of India (ESFI) and partnerships with leading gaming companies. This dedicated focus on talent development and competitive infrastructure will pave the way for future champions.

But it's not just about physical tournaments; the virtual world is beckoning too. Metaverse gaming, the hottest trend of 2023, is already creating a ripple effect. With a projected market size of over 700 billion dollars by 2027, it presents an exciting frontier for Indian game studios and players, as per the Mordor Intelligence report.

This dynamic growth can be attributed to several factors:

• Young and Vibrant Demographic: India boasts one of the youngest populations globally, creating a fertile ground for gaming enthusiasts.
• Evolving IT Infrastructure: Increasing smartphone penetration and high-speed internet connectivity are fueling the accessibility of online gaming.
• Technological Advancements: Integration of VR, AR, and metaverse technologies is adding layers of immersion and engagement to the gaming experience.
• Government Initiatives: The Prime Minister's vision for a "Digital India" and the establishment of the Inter-Ministerial Task Force (IMTF) demonstrate the government's commitment to nurturing the online gaming sector.

Looking ahead, the Indian gaming market is predicted to reach a staggering 7.24 billion dollars by 2029. With the government's focus on game development, rising female leadership, and a shift towards mobile and multiplayer gaming, India is poised to become a global gaming powerhouse.

Talking about the gaming industry and trend Animesh Agarwal, Founder & CEO of 8Bit Creatives and Co-Founder of S8UL, shared, “As we enter 2024, strategic collaborations within the gaming industry are poised to play a pivotal role in fostering the growth of the overall sector. We anticipate a significant surge in India-specific games, similar to Indus Battle Royale, which seamlessly integrates the rich and diverse culture of our nation into the gaming world. These titles will offer gamers additional tournaments to compete in and thrive within a homegrown title.”

Furthermore he said, “We will also witness the implementation of Esports programs, degrees, and scholarships by educational institutions to raise awareness about gaming in the country. This initiative aligns with the government's promotion of gaming in the country and will empower aspiring gamers at the grassroots level.”

According to Lokesh Suji, Director, Esports Federation of India & Vice President of the Asian Esports Federation (AESF), “One of the pivotal milestones on the horizon is the Aichi-Nagoya Asian Games in 2026, where Esports has been confirmed as an official medal sport. Building on the debut of Esports as a medal sport at the Asian Games in 2022, its continued inclusion in this prestigious tournament stands as a testament to the growing recognition of Esports as a mainstream sport on the international stage.”

Speaking about the announcement of Aichi Nagoya Asian Games, he said, “ESFI is committed to contributing to a thriving Esports ecosystem in the lead-up to the Aichi-Nagoya Asian Games. Over the next two years, our focus is to assemble the best possible Indian contingent starting right from meticulously organizing national qualifiers to ensure a fair qualification process for our athletes. We will leverage our partnerships with Hama and FITGMR to provide top-notch gaming gear and coaching to the contingent to make sure that they are well-prepared to not just compete but bring laurels for the country.”

“The trend of increasing participation and support from various states that are embracing Esports as a legitimate sporting discipline is set to continue in the upcoming year. This positive momentum, marked by the establishment of dedicated academies, integration of Esports into educational curriculums, organization of tournaments, and forging partnerships for the overall development of video gaming, will be instrumental in expanding the footprint of Esports within the sporting landscape." he added.

Naman Mathur aka Mortal, Co-Founder of S8UL, opined, “There is more skin in the game by top brands. We see that brands who have been invested in gaming for a long time have now deepened their commitment, in the shape of more long-term & close to business collaborations. An example is MG’s Comet, a car launched for gamers earlier in the year, where I was personally involved in the launch. IQOO partnering with Team Soul is another example of a top mobile device brand deepening their immersion in the gaming world.”

Additionally, talking about AI and Metaverse, he said, “Artificial intelligence enhancements and Metaverse Gaming trends will open doors to a future where virtual worlds seamlessly blend with gaming narratives. Merging these technological trends with the surge of Esports tournaments with higher prize pools promises a year full of exciting opportunities for gamers and creators alike.”

Rohit Agarwal, Founder & Director, Alpha Zegus, noted, “The top tech trends to watch out for in 2024 for the gaming sector will be led by deeper integration of AI as a MUST supplementary tool for content creation ideas, SEO optimization, etc. The way Indian Gaming is scaling up on a global stage, we will soon have more access to international experts, software, and resources in gaming. More content creation & monetization tools from platforms like Meta, Google, Kick, Twitch, etc. will allow more forms of expression and give rise to a new generation of creators.”

For the mobile games, the numbers of overall users are expected to increase globally (from 1.66B in 2023 to 1.72B in 2024) a report by Statista mentions.

“The cost of acquiring users for mobile games should come down in 2024. With more Advertiser side optimisations coming in from Google, developers will see a decrease in their overall revenue but the cost of acquisition should also come down. Hyper casuals show a declining trend when compared to other formats but will still be the biggest market segment. AI use cases in Gaming will increase. From content generation, to actual game play recommendations, Gen AI will be a hot topic for games in 2024. PC gaming should pick up on trends. Lots of AAA gaming studios are launching their mobile titles on desktops for a better and connected ecosystem,” said Arpit Chaudhary, CTO, GreedyGame.

In conclusion, 2024 is shaping up to be a pivotal year for Indian Esports. With the Asian Games on the horizon, the Metaverse revolution unfolding, and government support accelerating, India is primed to claim its rightful place as a leader in the world of virtual competition and entertainment. Get ready to witness the rise of the Indian gaming champions!