India's sports ecosystem to grow double its GDP at 14% CAGR, reveals Google-Deloitte report

The sports goods and apparel market is expected to double in value to $58 billion by 2030.

By  Yukta RajNov 14, 2024 4:59 PM
India's sports ecosystem to grow double its GDP at 14% CAGR, reveals Google-Deloitte report
The sports technology sector is ripe for investment, projected to be a $1 billion market with a projected CAGR of 19%. (Representative Image: JESHOOTS.COM via Unsplash)

India's sports ecosystem is on the cusp of a major transformation as it is poised to reach $130 Billion by 2030, according to 'Think Sports: Unlocking India's $130B Sports Potential’ report by Google and Deloitte. As per the report, this growth, a 14% CAGR is nearly double the pace of India's GDP, that signifies a shift in how Indians consume and engage with sports, driven by increasing government investments, a rising trend of multi-sport culture, wide digital adoption, and a range of quality sports content.

The report also projects the creation of up to 10.5 million jobs and $21 billion in indirect tax revenue by 2030. In addition to this, the report highlights that 90% of Indian sports fans now follow multiple sports with Kabaddi and Football gaining traction with 120 million and 85 million fans respectively while cricket remains a national passion. The reason behind this being the popularity of sports leagues in Kho Kho and Hockey.

Talking about the report, Roma Datta Chobey, Managing Director (Interim Country Lead), Google India, said, “This is a pivotal moment for sports in India and the report outlines a clear path to unlock the value of sports for the nation. We're witnessing a surge in multi-sport fandom, a growing popularity of digital platforms, and deep engagement from Gen Z, who represent the largest segment of India's sports fanbase. These trends create a fertile ground for innovation and engagement, presenting unique opportunities for organizations and businesses to connect with passionate fans across the nation. We see immense potential in leveraging the digital ecosystem to enhance the fan experience and advance the growth of the sports sector, especially with AI-driven personalization and insights, immersive technologies, and greater digital accessibility.”

Interestingly, the rise of digital platforms has transformed sports consumption in India. According to the Google-Deloitte report, most fans now access sports content digitally. This trend is even more pronounced among Gen Z, who make up 43% of the fan base, and are driving demand for interactive, personalized experiences. Further to this, 93% of Gen Z fans consume sports content digitally and more than any other generation. Across demographics, fans spend 20% more time on non-live content than on live sports events, highlighting a preference for on-demand viewing and shorter, more personalized content experiences.

Of India’s 655 million sports fan base, women now represent 36% of fans, while 59% reside in rural areas, demonstrating the expanding reach of sports across demographics and geographies. In particular, Kho-kho and badminton are attracting a greater share of women fans.

Furthermore, the sports goods and apparel market is expected to double in value to $58 billion by 2030, driven by a rising fitness culture and increased discretionary spending. Per the report, 73% of consumers are keen on buying merchandise from their favorite teams or players. The sports technology sector is ripe for investment, projected to be a $1 billion market with a projected CAGR of 19%.

The broadcasting and promotions sector are also experiencing fast growth, with new reach and engagement opportunities catalyzing growth in the sub-sector.

“India’s potential to become a global leader in sports is both a tremendous opportunity and a powerful driver for nation-building. With the advancements in technology from AI to cloud platforms, we have a unique opportunity to nurture talent from the grassroots level, reaching youth in every corner of the country. However, to fully realize this vision, we must tackle the challenges of access, infrastructure, and equitable development. By building strong public-private partnerships, we can drive sustained progress in our sports ecosystem, creating new jobs, promoting health, and enhancing India’s global standing,” Romal Shetty, Chief Executive Officer, Deloitte South Asia, said.

Moreover, with 1 in 2 individuals starting to follow a sport after encountering it online, technology is crucial for driving deeper engagement and unlocking monetization opportunities through social, gamified, and personalized experiences.


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First Published on Nov 14, 2024 4:59 PM

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