Digital economy in India set to witness job growth of over 100,000 in Opinion Trading sector, predicted experts, signaling transformation.
The digital economy in India is poised for significant growth, with the online gaming and opinion trading sectors expected to become major drivers of job creation and digital transformation over the next several years.
In the realm of opinion trading, platforms such as Probo and MPL Opinio are projected to generate over 100,000 jobs in data, AI, and compliance within the next 3-5 years. Currently, these sectors employ more than 10,000 people directly and indirectly, and are forecasted to contribute 30-35% of job creation in this emerging domain.
The online gaming sector, home to the world's second-largest gaming community, employed approximately 100,000 skilled professionals in 2023 alone. The workforce in online gaming has expanded 20-fold from 2018 to 2023, and the market is projected to grow to USD 7.6 billion by the end of 2028, at a compound annual growth rate (CAGR) of 14.5%. This growth is expected to create an additional 200,000 to 300,000 jobs in the near term.
These sectors will drive high-skill role employment growth in areas such as data analytics, AI engineering, regulatory compliance, and content development. The rise of these industries is expected to reshape India's digital economy by attracting global investments, fostering local talent, and positioning India as a leading global hub in online gaming and prediction market technologies.
Notably, the collective funding of these platforms from more than 35 leading global investors is nearly USD 500 million. These global partnerships present massive scalability potential for Indian platforms.
Opinion trading platforms, such as Kalshi, which is now valued at $2 billion, create avenues for individuals to take positions on the possibility of various outcomes based on their reasoning and opinions. Homegrown platforms like Probo and MPL Opinio could transform how nations forecast trends, assess risks, and make data-driven decisions.
India's online gaming market is projected to reach USD 7.6 billion by the end of 2028, while the global online gaming market is forecast to reach $230 billion by 2033. Opinion trading platforms in India have already accumulated a user base of over 50 million gamers.
As these sectors mature, their impact extends beyond job creation. Dr. Padmanabhan, an expert in the field, suggests that India could turn the wisdom of its crowds into a strategic advantage on the world stage. The coming years will test whether India can translate its early momentum into global leadership in the opinion trading field.
References: [1] https://www.livemint.com/technology/tech-news/indian-startups-aim-to-make-prediction-markets-mainstream-11647219566186.html [2] https://www.mintautomotive.com/news/india-s-online-gaming-market-to-reach-7-6-billion-by-2028-growing-at-14-5-cagr-between-2023-and-2028-report-186292 [3] https://www.thehindubusinessline.com/info-tech/indias-opinion-trading-market-set-to-create-100000-jobs-in-the-next-5-years/article36304335.ece [5] https://www.thehindubusinessline.com/news/indias-online-gaming-market-to-reach-7-6-billion-by-2028-growing-at-14-5-cagr-between-2023-and-2028-report-186292
- The forecasted growth of India's online gaming and opinion trading sectors could attract over $500 million in investments from global partners, opening up opportunities for high-skill employment in areas like data analytics, AI engineering, and regulatory compliance.
- As these sectors evolve, platforms like Kalshi, Probo, MPL Opinio, and others could potentially transform the landscapes of news consumption, finance, and business decision-making, even reshaping India as a global leader in prediction market technologies and technologies related to online gaming.
- In the future, with the anticipated expansion of India's online gaming market and the maturation of opinion trading platforms, the collective wisdom of the crowds in India could serve as a strategic advantage on the world stage, providing insights for specific outcomes, trends forecasting, and data-driven decisions in various sectors, including technology, finance, and career development.
