India’s Sports Industry Anticipated To Reach $ 130 Billion By 2030
India’s sports industry is expected to see explosive growth. According to the reports by Deloitte and Google, India’s sports industry will jump from $52 billion this year to $130 billion by 2030. This growth is driven by the jump in India’s multi-sport fan base and increasing engagement among Gen Z audiences who make up 43% of the country’s 655 million sports fans. Shifting Fan Demographics And Rise of Digital Engagement Cricket captured 70% of all sports-related digital searches. Others like kabaddi, football and indigenous games like kho-kho gained more ground quickly, which meant that there was a much broader, more deep-rooted sports culture in the country. Indians’ way of consuming sports online is changing with 93% of Gen Z fans accessing the content online. Gen-Z fans are also spending 20% more time on non-live content, highlights, short-form, etc. All of this opens the doors to new means of personal engagement by the fan. Technology As An Enabler For Fan Experience And Growth Technologies based on AI and cloud platforms are transforming the fan experience and revolutionizing talent scouting and athlete training. Fueling platforms such as YouTube, fantasy sports, and social media, this technological revolution also drives the expansion of esports, which is estimated to become a $200 million market by 2030. Economic Impact And Job Creation Just as impressive is the economic and employment potential bound up with the sports sector. It will support 10.5 million jobs and generate indirect tax revenues of $21 billion by 2030. The sporting goods and apparels market alone is expected to double to $58 billion, on account of a steadily growing fitness-conscious population and increased demand for team merchandise. Broadcasting rights and sponsorship revenues, which include the crème de la crème of sports, such as the Indian Premier League, are further testimony to the economic promise of the sector. However, nevertheless, there are areas which really remain an issue: infrastructure and governance. India’s per capita budget on sport is minuscule compared to giants such as the UK and Australia. However, it is beginning to see some direct action taken by the government, such as through the National Sports Policy 2024, to address these weaknesses. Grassroots development would also get a huge fillip from public-private collaborations and innovative funding models. Expanding Rural And Female Audience Base Rural and female sports audiences in India are growing, with 59% rural fans and 36% female fans engaging in sports. Content localization, especially in regional languages, and the promotion of indigenous sports are more ways that can tap into the untapped segments. Bright Future Ahead for India’s Sports Industry As India’s sports sector gains speed towards the set $130 billion, India finds itself not only at the brink of becoming a global sporting powerhouse but also to be spreading an atmosphere of inclusiveness, diversity and national unity. The Sportz Planet Desk,Atharva Shetye
