In India from the statistics it is seen that 75 percent of the entire population is under 45 and 60 percent of the Indian online gamers are between the age of 18 and 24. So, it is estimated and assumed that India will someday be the number one gaming market in the whole world.
Online game is a witness of an extraordinary growth in India and is steady enough to gain a strong foothold in the Indian market. The industry has an expectation to grow to 3750 million dollars by the year 2024. A report that was titled “Gaming – Indian Story”, which was published by Maple Capital Advisors, said that the Indian gaming industry is expected to grow by 41 percent annually due to the growth of digital infrastructure and a substantial rise in quality and engaging fantasy sports content.
Currently India has game startups of about 400 and there are a few established players like the Junglee Rummy in the online gaming space. Online gaming can be divided into skill games, real money games, esports and casual games. Skill games like the rummy and esports are having the fastest growth.
As per different reports from the market, online gaming has a projected usr base of more than 628 million gamers, which comes with all the gamers playing in online games of all the ages. The developers and designers of gaming, investors, and marketers are actually working altogether to take a leap in the gaming industry. The greatest revenue growth is found in online skill based gaming industries like the rummy. So, what may be the possible factors that are influencing and driving the flamboyant growth of the gaming in the country?
First reason is that there are huge Indian youngsters who love playing games. There is an enormous possibility and potential hidden in the people contributing to the growth of the gaming industry.
Second reason is that India has more than 560 million internet users and gaming has taken a leap and is not only concentrated on consoles, so people from all over the world are capable enough of playing the games. If you have a smartphone where you can access the internet then definitely you can play games no matter what. You actually do not need any huge set up to start playing a game. This in turn makes the revenues collected from the mobile gaming much more than the revenues collected from the console gamers.
There is a huge upsurge in the download of games from the Google Play store or the Apple Store. Games have become more downloadable apps as compared to others. Game developers are thus switching to provide better mobile gaming experience and are developing more and more mobile games. You just need to have a smartphone and internet connectivity to play games like rummy, carrom, ludo, uno and many more.
Gaming companies are even providing tutorials how to play the games and that too in multiple languages. The gaming is being regionalized for the purpose of reaching maximum people. Games nowadays support regional languages and special competitions are being held during the festivities like Diwali, Holi, Eid etc. Fantasy sports are actually skill based games and are taking a leap in popularity during certain special events like the IPL.
The industry of the esports is expected to get an enormous growth curve and it is going to happen with their venture with the operators like Airtel and Jio. Digital payment has also added to the advantage of the gaming industry. Transferring money to a gaming account has become easier. There was an increase of 11 percent in the time spent by people in India on gaming from 2019 to 2020. It is definitely expected that we will see a whole new leap when 5G comes to the market.