Gaming in India has become one of the most exciting industries and is increasingly being invested by consumers and businesses alike. The Indian gaming and sporting goods industries have their share of road accidents, but they are full of enthusiasm, creativity, and opportunity. Increasing investment by capitalists, brand partnerships, and the increasing use of mobile phones are fuelling the growth of eSports in India.
India ranks second in the world when it comes to population, so you can imagine how quickly it can tap into its gaming industry. Not surprisingly, gaming in India is expected to generate a whopping Rs 29000 crore in revenue by 2022. India will have 190 million players by this year, according to a study by KPMG.
India will play a leading role in the modern world as a result of increased general interest and investment in the gaming culture. India is one of the top five mobile games markets in the world, accounting for 13% of global gaming sessions. India is expected to add 40 million online gamers by 2020-22.
In addition to the boom in mobile games like PUBG Mobile Now BGMI and driven by affordable smartphones and fast Internet, the covid pandemic significantly impacted people’s health, the economy, and the way people define entertainment.
The Covid pandemic bought a major change in the pattern of gaming in the country. As per a survey conducted by the Viral Fission, The Most popular genres for gaming in India turned out to be Board games, arcade, and Battle Royale & Strategy. Since these games are easily accessible and understood. When a survey was conducted on 2132 students the data showed that 58.6% play for less than 1 hour, 36.8% play for 1 – 3 hours, 6.3% play for more than 3 hours
The gaming industry has experienced an enormous boom in recent years and will continue to grow, with developments and technological advances continuing throughout our time and with the pandemic boosting the number of online gaming sessions in the country. The online gaming industry is uncharted territory in India, and companies are making the leap and are expected to grow by 4.1% in 2021.
This interest has the potential to make India one of the leading game markets in the emerging global economy. India also has 560 million Internet users, making it the second-largest Internet consumer.
India is experiencing increasing urbanization with almost everyone owning a smartphone and having access to mobile games. Over 60% of Indian players between 18 and 24 are tech-savvy and have access to tutorials, app stores, gaming trends, and technology and with the introduction of affordable internet services by Indian giant Jio, the market is booming. In this group, smartphone gaming has soared and will continue to rise in the country.
As digital consumption becomes mainstream, the demand for diverse content is growing. The game industry offers roles such as game designers, animators, visual artists, visual effects editors, artists, sound designers, sound engineers, game developers, programmers, and game testers. Gaming careers are booming due to the increasing demand for VFX and animation experts.
One of the most obvious effects of this huge change in the gaming industry is that it will generate more than a billion in revenue. There is an enormous opportunity for operators in space, such as game developers and marketers.
According to a survey, Free-To-Play games are already driving the mobile gaming industry and we can expect more of its transformative power to be seen in 2021. Rising sales of portable gaming devices will boost also boost consumers’ income levels and boost the market growth at about 17% from the surveyed data. The pandemic gave a big boost to games like Among Us with over 60% of people in the survey familiar with it.
You will notice that the business model that is the standard in the mobile gaming sector in India is free-to-play, which will attract entry into the gaming industry and continue to grow in the country. Not surprisingly, the Indian government has played an active role in the regulation of the gaming market. The gaming regulator did well to monitor the privacy policies of games that store data transmitted by Indian users, and the pandemic that has affected the entire world has shown that there is no holding back.
The gaming industry is considered one of the most exciting in technology because of its importance to culture, entertainment, and technological progress. However, it is dying because of massive economic problems in the industry, both at the top and the bottom, problems that mean taking risks that can be dangerous. In 2020, the global PC gaming market was estimated to generate $37 billion in revenue, while the mobile gaming market generated $77 billion in revenue.
The global gaming market was valued in 2020 at $17.370 billion and is expected to reach $31.440 billion by 2026, with a CAGR of 9.64% in the forecast period from 2021-2026. Based on the current rate of growth, the gaming industry is expected to be worth more than $300 billion over the next five years.
The e-gaming industry in India will grow by 22.1% by 2023 from INR 438 billion to INR 1,188 billion. With a steady increase in the volume of consumption, the local development and monetization of the gaming industry are expected to catch up.