Year Ender 2023 In Indian Esports: Reflecting on a Pivotal Year and Anticipating a Trailblazing 2024
- Rohit Agarwal
A groundbreaking year for Indian Esports, marked by participation in the Asian Games 2022, witnessed global triumphs, mainstream recognition, and brand investments, laying the foundations for a successful 2024
New Delhi, Dec 27: The year 2023 has undeniably been a landmark period for Indian Esports, characterised by groundbreaking achievements, exponential growth, and a surge in mainstream recognition.
As the curtains draw close on this historic chapter, stakeholders in the Indian gaming industry are not only celebrating the milestones achieved but also eagerly anticipating the promising prospects that lie ahead in 2024.
According to the ‘Leveling up: State of India Gaming FY’23’ report by Lumikai in collaboration with Google, India witnessed a staggering surge in gaming enthusiasts, with 568 million gamers in FY23.
The gaming market reached $3.1billion in the same fiscal year, and projections indicate are markable growth trajectory, expected to reach $7.5 billion by FY28, with a Compound Annual Growth Rate (CAGR) of 20%.
A defining moment for Indian Esports in 2023 was the country’s participation in the Asian Games, where Esports made its debut as an official medal sport. The League of Legends team’s remarkable fifth-place finish showcased India’s prowess on the international stage.
S8UL, India’s premier Esports organization, further cemented this success by securing the first-ever ‘Global Impact on Mobile Gaming’ award at the MOBIES Awards and the ‘Content Creator of the Year’ accolade at the Global Esports Awards 2023.
Reflecting on these achievements, Mr. Animesh Agarwal, also known as 8Bit Thug, Founder and CEO of 8Bit Creatives and S8UL, emphasised the global recognition attained by Indian gamers, saying, “The stigma surrounding gaming as a career choice has dissipated, opening new opportunities for aspiring gamers and legitimizing Esports as a viable and respected profession.”
The Esports ecosystem also witnessed a transformative shift in terms of brand investments. Notable examples include IQOO SOUL’s historic title sponsorship with Team SOUL, illustrating the growing involvement of non-endemic brands in the gaming space.
Mr. Animesh Agarwal highlighted the significance of this development, noting that the influx of non-endemic brands brings financial support and broader visibility to various facets of the Esports industry.
The amendments to the Information and Technology (IT) Act by the Indian government played a crucial role in distinguishing Esports from real money gaming (RMG), providing legitimacy to the sector and leading to increased sponsorships and investments.
Several states, including Madhya Pradesh, Bihar, and Uttar Pradesh, have taken proactive steps, establishing initiatives such as the country’s first esports academy and tournaments. Educational institutions have also embraced Esports with the inclusion of gaming in the curriculum.
Commenting on these developments, Mr. Lokesh Suji, Director of the Esports Federation of India (ESFI) and Vice-President of the Asian Esports Federation (AESF), expressed optimism about the future of Esports in India, stating, “Esports now proudly stands alongside the traditional sports of the country, attracting more players and sponsors to the industry.”
The triumphant return of Battlegrounds Mobile India (BGMI) marked a pivotal moment for the Indian Esports industry after a temporary hiatus. Mr. Rohit Agarwal, Founder & Director, Alpha Zegus, emphasized the resilience and growth of the industry, stating, “In 2024, our efforts are going to continue towards content solutions and experiential marketing, expanding our base to different regions, and bringing more quality to our work.”
As Esports continues to rise globally, the inaugural Esports World Cup 2024 and the entry of streaming giants like Netflix and YouTube into gaming signal a revolutionary shift for Indian esports in the upcoming year.
The convergence of these factors, along with other emerging trends, promises a dynamic and transformative year ahead for the vibrant and ever-evolving world of Indian Esports.
