In 2016 the number of users was simply million and today it has crossed the ninety million mark. Further, a record by FICCI-EY has observed that the valuation of the gaming industry in 2019 was about INR 65 billion, and it’s anticipated that the valuation will boom to INR 187 billion by 2022.
Can India Become The Next Big Online Gaming Industry?
Mobile and internet usage is growing around the world, mainly in India, wherein people use their smartphones to do anything and everything! Be it ordering groceries or speaking with pals, creating business transactions to gaming, the use of smartphones has made the lives of a common man easy, smooth, and entertaining. With the development of the era in this sector, this usage is anticipated to boom even more.
As predicted, India has additionally seen exponential growth in the gaming industry, which leaves us thinking, India can achieve a large online gaming business in a small span of time. In 2016, the country had less than 10 organizations that handled virtual gaming and sports activities and in 2021 the wide variety has accelerated to 140 organizations today! In 2016 the number of users was simply million and today it has crossed the ninety million mark. Further, a record by FICCI-EY has observed that the valuation of the gaming industry in 2019 was about INR 65 billion, and it’s anticipated that the valuation will boom to INR 187 billion by 2022.
To see India as the leader in online game development in the subsequent decade, we must examine our beyond and present scenario in the USA and understand the elements that affect this vision. Here are some of them:
Banning Chinese Apps and Focusing HomeGrown Apps: Earlier, the Union Education Ministry furnished employment possibilities to the Indians via means of helping online gaming businesses. Further, the Prime Minister agreed to it and said that the web gaming zone has vast potential. Another contributing aspect to the homegrown games consists of banning Chinese apps and games, giving way to the Make In India label. For instance, FAU-G has replaced PUBG in many ways.
Blooming of Fantasy Games: The 4 famous segments of online games consist of casual video games, card games, fantasy sports activities, and esports, and fantasy sport has the maximum number of common genres. Online fantasy games are seeing a big rise among the Indian audience, specifically the ones associated with sports activities. According to a report by the Federation of Indian Fantasy Sports (FIFS) and KPMG, fantasy sports are worth INR 1,500 crores in a quick span of time. The report has similarly discovered that more than 75% of those fantasy games are related to cricket competition.
Accessibility to the Internet and Mobile Gaming: As of now, India has more than 560 million Internet users and by 2023, this number is expected to be more than 650 million. The enormous number of internet users has created a rich ground for the online mobile gaming industry. Also, it has brought about a change in how games are played. Prior, games were just played on PCs and consoles, but today smartphones are turning into a less expensive and advantageous choice for internet gaming. According to a report by PwC and the Payment Council of India, India is expected to have a share of 2.2 % in the global digital payments market by 2023.
Quality of Games: There has been a rise in the number of game developers, expanding from 25 in the year 2010 to 275 in 2019. This is because of the IT ability present in the nation, making it a well-known objective for gaming organizations.
Indian gaming applications have additionally been dominating app-based stores because of their notoriety and crowd interest. They have gained a huge number of users inside India as well as produced significant income as well. These Indian applications have seen a sharp expansion in users during the lockdown, one such gaming application is an Indian ludo.
Furthermore, VR advancements are progressively expanding the field of online gaming, innovating new technology that is attracting more and more gamers. Consumers additionally need games to be created in the dialects that they identify with, with Indian language users are expected to expand to 540 million by 2021, according to a KPMG in India and Google report.
India Can Be A Game Changer In the Gaming Industry: The main motivation for India to control the gaming business is the way that India is loaded with Gen Z. The inclination of the youth to play internet games is as high, as 60% of the Indian gamers are of the age 18-24. As we have effectively talked about, the quantity of dynamic internet users is additionally expanding which again is giving an enormous market. Further, the Make In India program has expanded the prominence of nearby games in the nation to help the development.
Figure Of Gaming Industry In India: Indian gaming sector can be extensively divided into mobile gaming, PC gaming, and console gaming and out of the three, as of now, mobile gaming is ruling the sector. The greater part of the income of the gaming business comes from mobile gaming. By 2022, the mobile gaming industry in India is projected to cross the USD 400 million. Strangely, console gaming possesses the biggest offer in the gaming business after mobile gaming by involving 35.51% of the piece of the pie. Gaming consoles are for the most part well known in the metropolitan districts of India with high web networks and better financial conditions.
These factors have added to the quick development of the online gaming market in India. We are situated to turn into a forerunner in online game advancement in the leading decade. Additionally, positive drives for the gaming business, business people, ability at the miniature and full-scale levels inside the nation will assume a huge part in empowering internet game advancement in India.
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