Game on! India’s sports sector eyes a $130 bn score

IBT Edit Bureau | November 15, 2024

India’s sports industry is hitting its stride, expanding rapidly beyond the cricket pitch and captivating audiences across a diverse array of sports. A new report by Google and Deloitte, titled ‘Think Sports: Unlocking India’s $130B Sports Potential,’ reveals a remarkable transformation underway. With a projected growth rate of 14%—nearly double the pace of India’s GDP—this sector is set to soar to an impressive valuation of $130 billion by 2030. From packed stadiums to rising stars in everything from football to badminton, India’s sports landscape is evolving into a powerhouse of opportunity, innovation, and unstoppable momentum.

India’s sports industry is getting both larger in size and broader in scope, as audience support starts trickling into non-cricket events as well. A recent report by Google and Deloitte titled ‘Think Sports: Unlocking India’s $130B Sports Potential’ projects that the Indian sports sector will grow at a CAGR of 14%, almost double India’s GDP growth rate to reach a valuation of US$ 130 billion by 2030.

This growth will be driven by rising government investments, a growing multi-sport culture, widespread digital adoption, and diverse, high-quality sports content. The report further suggests that this growth could create up to 10.5 million jobs and generate US$ 21 billion in indirect tax revenue by 2030.

A key trend to note is the growing diversification in audience interest. Around 90% of the fans are now following multiple sports. Cricket remains the overwhelming favourite, but kabaddi and football have gathered legions of followers in their own right – with 120 million and 85 million fans respectively. The Indian Soccer League and Pro Kabaddi League have been pivotal in growing the popularity of these sports.

A major 43% chunk of this fan base is now Gen Z, which also means a strong shift towards digital consumption, preferred by 93% of this cohort. Moreover, fans now spend 20% more time on non-live sports content, thereby opting for on-demand and personalised experiences.

The report further shares an interesting trend on diversity in sports followers. Women now account for around 36% of India’s 655 million sports fans, and 59% of fan base emanates from rural India. The sports goods and apparel market is also benefitting immensely from this growth, expected to reach US$ 58 billion by 2030.

The sports technology sector is expected to record a CAGR of 19% to reach a US$ 1 bllion market. On the players’ end, AI technology is playing a pivotal role in athlete scouting and training. Technology is expected to play a major role in enhancing India’s global sports presence and leverage its growing sporting culture.

Game on! India’s sports sector eyes a $130 bn score

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Game on! India’s sports sector eyes a $130 bn score

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