Technology trends that could boost the Indian fantasy sports industry in 2023
By Jayendra More, AVP Product. PlayerzPot
Gaming and sports in India have an inseparable fan base. India recently has seen an impressive growth in its gaming sector , and also holds a tremendous potential to become a prominent industry in the future. The gaming sector is poised to grow from $2.8 billion in 2022 to $5 billion in 2025, growing at a CAGR of 28-30%.The penetration of technological innovations, smartphones and affordable internet to sports enthusiasts even in the Tier 2 and Tier 3 cities has been the cue for this growth. This has also provided gamers with a tremendous opportunity to improve their gaming skills and grow as a professional in an evolving industry.
Gaming companies leaving behind console gaming and stepping into mobile gaming has been a revolutionary step. The latest technology and innovations has enabled companies to try out new features and trends which can turn casual sports enthusiasts into ardent participants.
Mixing the adrenaline of live sports with technology, fantasy sports have been giving one of the most unique and joyful experiences to gamers. The new technology trends are giving a well-deserved boost to the industry attracting many gamers and entrepreneurs.
Here are the 5 tech trends that could boost the Indian fantasy sports industry:
Artificial Intelligence
AI can change and improve gaming experience in many ways and we are already experiencing AI in its initial stage. The introduction of AI in the gaming sector lets you discover virtual life in front of your eyes. Gaming is all about experience and fun, and AI has brought unique experiences for users. It’s a whole new universe waiting to be explored.
We can expect companies to dive deep into this virtual world and offer a personalized experience based on the user’s data. The solutions driven by Artificial intelligence based on machine learning tools enable companies to provide accurate and fast information to the users. AI can support games by providing customized responses to gamers and predicting gamer behaviour based on data. The use of AI will help platforms manage its data well for the growth and development of the game.
Cloud Gaming
Cloud gaming is often called next-gen gaming. It allows gamers to play games on a server without worrying about downloading the game or ensuring device compatibility. Cloud gaming provides easy access to gaming without investing heavily in gaming infrastructure. We have companies like Amazon web services (AWS), Google Cloud Platform (GCP), and Microsoft Azure that offer cloud services to gaming companies.
It is a robust tech solution to the lack of heavy programming and lack of compatible devices. There are a few shortcomings in it like a lack of security, which I believe will be fixed as the industry is collectively working towards safe gaming. It will let sports fans try out new games without the fear of security breach. The availability of 5G will also play an important role in the development of cloud gaming.
Development in AR/VR Technologies
Gaming today is an experience, and augmented reality (AR) and virtual reality (VR) brings an improved hyper-real gaming experience to the gamer. AR with audio and visuals enables gamers to interact and experience gaming in real time. On the other hand, virtual reality takes the user completely and virtually in the gaming environment. AR/VR are the future of gaming as they add momentum to the fantasy gaming industry. Now gamers can experience being in the game either sitting with players on the bench or enjoying virtually being at the stadium. The thrill of experiencing gaming like this makes its future really bright. We can expect AR & VR to take on the gaming industry in the coming 10 years.
Cross-Platform App Development
Gaming is a dynamic industry; it has evolved from console gaming to mobile gaming quickly. And gaming enterprises have acknowledged these changes and incorporated them into their development programs even quicker. That’s why we are seeing a lot of cross-platform games, it basically enables players to play their game on any device anywhere. Gaming nowadays is not just limited to one single platform; they are connected to multiple different platforms.
The app development allows gamers to shift platforms and collaborate further. In the coming years, cross-platform apps will be vital for fantasy sports and players.
Blockchain
Blockchain is one of the most innovative technologies that still have a lot left to be explored. This innovation has allowed gaming companies to take leverage of its powerful data encryption technology, which helps them to keep their platform secure and safe during any transaction. The fantasy sports platforms are integrating blockchain technology because they are decentralized without any third-party interference. Blockchain may not be the mainstream of the Indian Fantasy gaming industry, but it has the potential to lead it. This technology is offering and supporting several options for transactions and currencies like payment in cryptocurrency. There is a bright future for Blockchain technology in fantasy sports if regulated properly.
The technological changes will bring growth to fantasy sports and make it easier for both parties- the business and the player. The industry is growing rapidly, with the introduction of new sports games and the return of live gaming events post-pandemic, we are witnessing a stable industry despite bans and ambiguity of the law. With proper guidance to the industry players, the whole sector of gaming and fantasy sports can be very beneficial. The future will see companies looking over to more advanced tech solutions in the coming years.
