India’s sports technology market, driven by Fantasy Sports, projected to

reach INR 49.5K crore by 2029: FIFS-Deloitte Report

India's sports tech market generated INR 26,700 crore in revenue in FY24, projected
to grow at a CAGR of 13% by FY29.
Sector comprises fan engagement, sports data & analytics, and foundational
technologies.
Fantasy Sports (FS) industry, the biggest driver of the sports technology industry, is
pegged for muted growth over the next few years as a result of the changes in the
GST law

February 13, 2025, New Delhi: The Federation of Indian Fantasy Sports (FIFS), India's
dedicated association for Fantasy Sports, today, unveiled the findings of the report titled
'Beyond the Field: India's Sports Tech Revolution' in the presence of Honourable Minister of
State for Youth Affairs and Sports, Smt. Raksha Khadse. The report, developed in partnership
with Deloitte, shines the spotlight on India's emerging sports-tech industry.

According to the report, the sports-tech industry is expected to grow at a CAGR of 13%, from
INR 26,700 crore in FY24 to INR 49,500 crore by 2029. The emerging industry comprises of
three subsectors

Fan engagement that provides end-to-end sports experience to fans by offering them a means
to engage with a sport, team, or athlete. This includes fantasy sports, ticketing experience,
sports gaming etc

Sports data & analytics that involve collecting and analyzing relevant historical statistics to
help a team, athlete or business perform better. This includes data providers, wearables etc

Foundational technologies that underpin the sports tech industry. These include cloud
computing, 5G, IoT, social media platforms, and digital payment solutions.

The Indian Fantasy Sports industry, a part of the Fan Engagement sub-sector, is the largest
contributor to the sports-tech industry in India with revenues touching INR 9,100 crore in FY
24. The sector however is bracing for impact as a result of the change in GST laws. Not only is
the sector expected to de-grow by 10% in FY25, but the industry is also expected to post a
reduced CAGR of 7% for FY24 to FY29, compared to the earlier forecasted CAGR of 30% for
FY22 to FY27. This degrowth is driven by a whopping ~50% hit on the FS companies’ margins
as a result of companies absorbing the impact of increased GST. Further, the risk of
retrospective taxation has made the investors wary of the sector with the investments going
down by 90% in 2023 and no new investments being made in the sector in 2024.

Speaking at the launch event, Smt. Raksha Khadse said, "The way technology is being
integrated through this partnership with Deloitte, along with other initiatives being taken, I
believe this is very promising for the future of sports in India. The sports culture is gradually
growing in our country, and it's crucial for us to connect it with technology because we are in
the era of AI. The role of sports technology will be particularly important in the coming days
as it will help us better analyse athletes - where they stand today and how they can develop
in the future."

Speaking at the launch event, Joy Bhattacharjya, Director General, FIFS said, “The sports
technology industry in India is poised to unlock new levels of athletic excellence, fan
engagement and overall growth in the sports industry. It can be a critical lever in elevating the
sports experience for both the fans and athletes. As India progresses in its sporting prowess,
technology will play a key role in improving athlete performance, enhancing fan engagement
to make sports a mass movement and enabling early identification and nurturing of talent.
This combined with the development of world-class sports infrastructure will be pivotal in
making India a sports superpower.”

Speaking at the launch event, Joy Bhattacharjya, Director General, FIFS said, “The sports
technology industry in India is poised to unlock new levels of athletic excellence, fan
engagement and overall growth in the sports industry. It can be a critical lever in elevating the
sports experience for both the fans and athletes. As India progresses in its sporting prowess,
technology will play a key role in improving athlete performance, enhancing fan engagement
to make sports a mass movement and enabling early identification and nurturing of talent.
This combined with the development of world-class sports infrastructure will be pivotal in
making India a sports superpower.”

He further added, “For years, the FS industry has reflected the passion of sports fans, making
the sports experience more engaging and immersive. As the industry stands at regulatory
crossroads, it is imperative that India embraces the power of sports technology and
encourages innovation through appropriate policies and regulations. A viable tax regime,
robust and progressive nationallevel regulatory framework, and industry-wide standards for
responsible gaming will be key in unlocking the full potential of the FS industry.”

Prashanth Rao, Partner Deloitte India said, "India’s sports technology ecosystem is at an
inflection point, with the market projected to grow at a 13% CAGR to INR 49,500 crore by
FY29. Technology especially with the advent of digital, is not only providing data for enhanced
athlete performance but is also creating immersive fan experiences, leading to increased
multi-sport following across demographics and opening newer avenues of business and
business-led collaboration. Fantasy Sports continues to be a key driver in this evolution,
fostering deeper engagement and community building while also contributing significantly to
employment generation and economic impact, with the industry expected to post a CAGR of
7% until FY29 and create 17,500 direct and indirect new jobs by FY27.”

He added “To sustain this momentum, a progressive and supportive regulatory framework is
essential. While initiatives such as the Draft National Sports Policy 2024 are a step in the right
direction, fostering innovation and ensuring long-term policy stability will be crucial in driving
sustained growth. Strengthening India’s sports infrastructure, fostering sports-tech startups,
and implementing balanced policies will not only elevate the sector but also position India as
a global sporting powerhouse.”

Sports play a vital role in shaping the culture, economy and identity of a nation. Fans and
sportspersons form the core of the entire sports ecosystem and are the primary driving force
behind the advancement and popularity of sports. The Government through the Draft
National Sports Policy 2024 has reinforced its aims to strengthen the sporting culture and
ecosystem from the grassroots to the national level and leveraging sports for economic
development.

Sports Technology will play a key role in realising this objective by enhancing the experience
for sports fans and analysing and improving athlete performance and training. While the
sector is still in its nascent stage in India and poised to grow, there is already significant
technology adoption in areas such as fan engagement, sports gaming, and data and analytics-
based decision-making.

To download the full report, please click here

About Federation of Indian Fantasy Sports:

The Federation of Indian Fantasy Sports (FIFS) is India’s foremost industry body dedicated to
the self-regulation, growth, and innovation of the Fantasy Sports (FS) ecosystem. Established
in 2017 as a Section 8 company under the Indian Companies Act, 2013, FIFS serves as the
representative national body advocating for the interests of both users and operators in the
fantasy sports industry.

With a commitment to fostering transparency, integrity, and responsible gaming, FIFS strives
to set the highest standards for selfregulation and operational excellence. By promoting best
practices, facilitating policy dialogues, and driving industry-wide innovation, FIFS envisions a
thriving fantasy sports ecosystem that enhances user experience, fuels technological
advancements, and contributes to India’s leadership in the global sports tech landscape.

About Deloitte India:

Deloitte provides industry-leading professional services to nearly 90% of the Fortune Global
500® and thousands of private companies. Our people deliver measurable and lasting results
that help reinforce public trust in capital markets, enable clients to transform and thrive, and
lead the way toward a stronger economy, a more equitable society, and a sustainable world.
Building on its 175 -plus year history, Deloitte spans more than 150 countries and territories.
Learn how Deloitte’s approximately 457,000 people worldwide make an impact that matters
at www2.deloitte.com/in.

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