India's Sports-Tech Surge: A New Era of Digital Athletics

The sports technology market in India is expected to grow significantly over the coming years, driven by technologies that enhance athlete performance and fan engagement. Despite hurdles like high GST on fantasy sports, the sector is poised for growth, creating thousands of new jobs and fostering business collaboration.

The sports technology sector in India is on the verge of significant growth, with an expected rise of 85 per cent to Rs 49,500 crore within the next four years. This forecast comes from a joint report by the Federation of Indian Fantasy Sports and Deloitte, highlighting the burgeoning role of digital innovations in the industry.

Currently generating Rs 26,700 crore in revenue, the Indian sports-tech market is predicted to grow at a compound annual growth rate (CAGR) of 13 per cent by FY'29. Digital technologies are revolutionizing performance data analytics for athletes and creating immersive experiences for fans, leading to wider multi-sport engagement and new business opportunities. Fantasy sports, in particular, are key drivers of this evolution, anticipated to create 17,500 jobs and maintain a CAGR of 7 per cent until FY'29 despite facing challenges from a 28 per cent GST.

While the fantasy sports sector faces a projected decline by 10 per cent in FY'25 due to high GST rates, other areas in sports tech continue to thrive. The market's potential lies in its ability to revolutionize the sports experience, both for fans and athletes alike, with investments still poised to unlock significant value despite recent setbacks.