The gaming industry will be a global player, driven by technological and social accessibility advances
India has a devoted fan base for both sports and gaming. According to Mordor Intelligence, the gaming sector will grow at a compound average growth rate of 0.9% over the duration of 2023–2028, from $344.33 billion in 2023 to $345.88 billion. This proves that the industry has the potential to become a major player in the market. This surge has been spurred by the increased use of technology, the availability and affordability of Internet connectivity, and how easy it has been for games to get into Tier-2 and Tier-3 cities.
Meanwhile, sports and technology have fused in a revolutionary way, providing Indian sports fans with a thrilling and immersive viewing experience. According to Mordor Intelligence, advances in technology have increased fan interaction, especially in the fantasy sports market, which is expected to grow at a robust rate of 13.83%, from $28.77 billion in 2023 to $54.98 billion by 2028. With the use of cutting-edge technology, gaming businesses have made a revolutionary transition from console to mobile platforms, introducing new features and trends. This development, which integrates the thrill of live sports with technology, has brought about a distinctively joyful gaming experience for players and drawn in an increasing number of enthusiasts and entrepreneurs. Sports and gaming are more than just entertainment in India, as the sector embraces these technological advancements to create a dynamic environment that offers unique experiences and opportunities for professional advancement.
Here’s a look at five technological developments that could help the fantasy sports market in India grow-
Augmented Reality (AR)
Users can engage in interactive experiences with augmented reality by superimposing digital content onto their real-world surroundings. AR can be integrated into apps more easily than VR (virtual reality), which requires more investment during product development and compatible user headsets. This is because smartphone operating systems like iOS and Android provide a platform for AR. By utilizing the accessible platform, app developers want to improve the capabilities they already offer by including augmented reality with minimal effort.
Blockchain
The blockchain in an encryption system changed the game and remade it to be strong with various options. This technology has helped businesses shield their transacted information from the reach of hackers and has enabled safe buying while playing. This technology could be a revolutionary, innovative, and enjoyable platform for developing and storing in-game assets and improving creative safety and security in general. According to Grand View Research, the global blockchain gaming market was valued at $4.83 billion in 2022 and is expected to increase at a CAGR of 68.3% from 2023 to 2030
Cross-Platform App Development
The gaming industry is dynamic, having swiftly transitioned from console gaming to mobile gaming. These companies have noticed these shifts and even more quickly integrated them into their development programs. It allows users to play their game on any device, anywhere, which is why cross-platform games are becoming more common. These days, gaming is connected to numerous platforms rather than being restricted to just one. Furthermore, through app development, players can switch between platforms and increase their collaboration. In the upcoming years, cross-platform apps will become essential for fantasy sports participants.
Wearable Gaming
Wearables, often known as wearable technology, are electronic devices that are worn. They are becoming more and more common in the gaming business and are equipped with sensors for data processing, transmission, and collection. The goal of this technology is to improve performance and concentrate on gaming. It might be equipped with hidden microphones to enhance the quality of the streaming. Due to the fact that these wearables enhance the overall gaming experience for consumers, demand for them is growing, particularly among competitive gamers.
The Future of the Fantasy Sports Industry
Although we may not be able to foresee the future, one can tell that the next day or few days will keep unfolding to another level, and this industry will move forward. The fantasy sports industry is integrating advanced technology to enhance the effectiveness, safety, profitability, and scalability of its platform. While other things go viral on the internet, the fantasy sports app development company enlarges its area to offer clients something new. Their innovative solutions seem to have a better prospect in the market for fantasy sports, and this is probably why we will find more of them within the next few months. Nevertheless, at this moment, the economy remains profitable and stable enough on a global scale to be ranked among the most flourishing industries in the world.
Tech-Powered Revolution in the Gaming Industry!
Founder, Super4
In India, business at the crossroads of innovation and entertainment has risen incessantly into the trajectory of the gaming, sports, and technology industries. The gaming industry will be a global player, driven by technological and social accessibility advances. The synergistic blend of sports and technology provides a fascinating outlook, especially for virtual sports. Wearables, AR, blockchains, and cross-platform app building have come together for the transformation and dynamism of the fantasy sporting business, hinting at an ever-changing, resilient, and forward-looking tomorrow.
