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The Tech Panda sought to know what esports industry experts are predicting in 2023?
The landscape of Indian esports has changed drastically in the past few years and the credit for this majorly goes to the rise in the young population, increased use of smartphones, easy availability and accessibility of technology and internet (5G introduction), rising tournament organisers, rising investment by capitalists, and appropriate distribution network.
Read more: Industry 2023: Expectations & predictions from the tech industry
Publishers like Garena, Riot, Krafton etc. are actively involved in investing and growing esports in India. The key trends that dominated the esports industry in the year 2022:
India is currently home to over 430 million mobile gamers and the number is estimated to grow to 650 million by 2025, according to the latest data provided by the Internet and Mobile Association of India (IAMAI).
The year 2022 has perhaps been the most exciting year for gaming and esports enthusiasts globally.
The world witnessed the first-ever Commonwealth Esports Championship and it will now also be an official medal sport in the Olympics.
According to gaming focused venture capital fund Lumikai, the industry, excluding real money gaming, is expected to grow to $4 billion by the fiscal year ending March 2027, from $1.1 billion in 2022.
India became the largest consumer of mobile games in the world this fiscal year, topping China and the US with 15 billion downloads.
Read more: 2022 Ecosystem roundup: Thoughts & introspection
The rollout of 5G in India will give gaming a further boost
While COVID was a catalyst, the momentum has continued well into 2022
With the ever-evolving innovation, career opportunities are also endless in the gaming industry. According to TeamLease Digital, the gaming industry is likely to add one lakh direct and indirect new jobs by FY-23.
What can we expect from this burgeoning industry in 2023? The Tech Panda sought to know what industry experts are predicting in 2023 for esports.
“In 2022, Esports saw a few hiccups with major titles like BGMI & Free Fire being banned. However, the industry has matured and is growing out of the dependency on just these titles and new games are taking its place.
Gaming has established itself as a preferred medium of entertainment and is set to exponentially grow in the next few years with a lot of home-grown titles soon to be launched
“Gaming has established itself as a preferred medium of entertainment and is set to exponentially grow in the next few years with a lot of home-grown titles soon to be launched.”
“The year 2022 has been full of challenges and opportunities for the gaming industry. Evolving from inadequate regulations with technological development, we are set to enter a new era of Web3 gaming in 2023, which will take over past trends of multiplayer casual mobile gaming, real money gaming, decentralisation, AR/VR, and metaverse.
While blockchain will resolve longstanding concerns such as privacy breaches, data control, or content authenticity, we can also expect more gaming companies to use NFTs to monetize their in-game characters, assets, costumes, and other assets. We foresee the metaverse bringing in virtual cash and physical interactions between gamers
“As young gamers and developers seek far more advanced technologies, the upcoming year will witness unprecedented convergence of blockchain and metaverse. Cloud gaming, metaverse, and new consoles will be other trends to incorporate better user experience.
“While blockchain will resolve longstanding concerns such as privacy breaches, data control, or content authenticity, we can also expect more gaming companies to use NFTs to monetize their in-game characters, assets, costumes, and other assets. We foresee the metaverse bringing in virtual cash and physical interactions between gamers. Extensive use of cryptocurrencies and NFTs in other industries will soon open up a near-realistic virtual world, which will provide genre-defining, immersive experiences.”
“The inclusion of Esports in international multi-sport events is something I, along with the entire Esports community, eagerly anticipate. The recent declaration by the International Olympic Committee (IOC) to host the Olympic Esports Week in 2023 has the potential to revolutionize competitive gaming worldwide. This is a positive development in the lead-up to the Paris Olympics in 2024, and it’s surely the IOC’s attempt to push Esports in the right direction. In addition to this, we have witnessed an increase in large sponsorships from non-endemic brands seeking to capitalize on the Esports industry.
Combining this highly engaged fanbase with their capacity to curate intriguing material and not just conduct brand plugs will make gamers the most sought-after influencers in the coming year
“In order to interact with their key demographic – GenZ & Millennials, gaming influencers have become their go-to source. Gamers have a target demographic that is very digitally savvy and fiercely loyal. Combining this highly engaged fanbase with their capacity to curate intriguing material and not just conduct brand plugs will make gamers the most sought-after influencers in the coming year. Last but not least, in-game trade, monetization, and transactions via blockchain and play-to-earn games, which have captured the attention of Indian gamers across all demographics, will also play a major role in the industry’s rapid expansion next year.”
“2023 is going to be a good year for esports in general with the Pokémon Unite Asia Championship followed by a potential World Championship again and Brawl Stars seeing a solid esports plan for the year will be great considering both the titles are non-violent games.
I think 2023 will be exceptional for India with the diversification and growth we have seen in India this year
“Valorant Challengers League 2023 will also be a big IP in 2023 along with the CS:GO IP by Sky Esports which is still under wraps, I think 2023 will be exceptional for India with the diversification and growth we have seen in India this year.”
“The metaverse, Web 3.0, and 5G are going to be revolutionary for the industry in the upcoming year and we are eagerly waiting to witness their potential and impact on gaming. We will also be seeing a lot more physical LAN tournaments in 2023 being conducted on a large scale across various Esports titles. Last but not least we have the Asian Games to look forward to where India is going to compete in five Esports titles for an official medal.
Since clarity is now slowly being established regarding the differences between Esports (which is a sport) and iGaming (fantasy, fantasy, teen patti, rummy, poker, online gaming, gambling, betting etc.), we can hopefully expect official recognition from the Ministry of Youth Affairs and Sports next year and see Esports finally be considered as a real sport
“Since clarity is now slowly being established regarding the differences between Esports (which is a sport) and iGaming (fantasy, fantasy, teen patti, rummy, poker, online gaming, gambling, betting etc.), we can hopefully expect official recognition from the Ministry of Youth Affairs and Sports next year and see Esports finally be considered as a real sport. It’s time that our esports community presents a unified voice to make India the next esports hub.”
“More SEA & MEA scale tournaments & events, where teams & audiences from all over SEA / MEA get to participate and enjoy esports together.
More SEA & MEA scale tournaments & events, where teams & audiences from all over SEA / MEA get to participate and enjoy esports together
“More Web3 / metaverse-related innovations in the gaming ecosystem, which enable a newer form of gaming experience and competitive gaming. Adoption of 5G and how it would accelerate the mobile gaming industry.”
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