How Much Is The Gaming Industry Worth In India?

Introduction

In a nutshell, you may "play" a video game on a computer, a video game console (such as the Xbox or PlayStation), a smartphone, or a tablet. Now that class has ended, you are free to depart. Many distinct types of video games exist, and each serves a unique purpose in the entertainment industry.

Video games were expected to be played by an estimated 2.7 billion individuals worldwide in 2020 alone. The global epidemic, a large supply, and an ever-increasing demand are all potential factors in this rise.

  • The Elder Scrolls V: Skyrim
  • PUBG Battlegrounds
  • Wolfenstein: Youngblood
  • Apex Legends
  • Call of Duty: Advanced Warfare

Top 10 leading PC video games manufacturers in India

  • NGFT
  • Hashybute Studio
  • Hyperlink InfoSystem
  • 99Games
  • HCL Technologies
  • HData System
  • nCore Games
  • Sony Corporation
  • Nintendo
  • Rolocule

1. An Overview

With a CAGR of 20.83% from 2021 to 2026, the Indian video gaming industry would grow from a 2020 value of USD 1.02 billion to USD 4.88 billion by 2026, according to estimates.

  • Because of this, more than 220 million mobile gamers spend an average of 42 minutes a day playing mobile games in the nation, making it the fifth largest mobile gaming market in the world.
  • New games for various platforms, such as PlayStation, Xbox, and Windows PC, are also constantly being developed by game developers to improve the gaming experience for gamers.
  • To avoid the need for a gaming console/PC/laptop or constant hardware upgrades, cloud gaming is an emerging technology in the gaming business. It allows users to stream high-end games across hand-held devices like laptops, tablets, and smartphones with fast network access.

Increasing internet access, government efforts, and smartphone stakeholders have all contributed to a surge in smartphone use in India over the past several years.

Android and other open-source operating systems have lowered the cost of smartphones and extended their capability, including the ability to use vernacular applications.

From Vietnam and other nations to India in August 2020, Samsung intended to shift some of its smartphone production.

Prime Minister Narendra Modi's 'Make in India' strategy has been boosted by the smartphone sector. The government's goal is to turn India become a major exporting country through such measures.

3. Recent Developments

Nodwin Gaming has received an investment from the South Korean online games holding firm, KRAFTON, of INR 164 million (about $16 million). Strengthening gaming infrastructures, supporting talent and technology as well as organizing a variety of tournament IPs around the country and the world will be made possible thanks to this new investment.

Gaming Technologies, Inc. (Gametech), a leading software based on the service and operator of the Mexico-based regulated internet sports formed a deal to bring a new Playboy-branded which proves to be the real money Rummy mobile game. The game is based on the Playboy brand and will be available on both Android and iOS platforms.

How Much Is the Gaming Industry Worth In India?

India is on track to overtake the United States as the world's largest video gaming market shortly. According to a KPMG estimate, it is predicted to double in value and reach $3.9 billion by 2025. In 2020, there were 360 million internet gamers; in 2021, there were 390 million.

Statista estimates that the Indian video gaming industry's market value in 2020 would be about 90 billion INR. According to the same research, by 2022, the market would be worth 143 billion INR.

In 2019-20, the gaming sector in India grew by about 40%, outpacing OTT, television, and social media combined. BCG managing director and senior partner Vikash Jain stated. Mobile phone users make up 86% of this market."

Reasons for growing Indian video gaming industry in 2022

1. Jobs

Finance Minister Arun Jaitley recently published a federal budget that aims to both increase domestic capacity and create new jobs for the country's citizens.

2. Earnings

The gaming industry has opened the way for gamers to monetize their passion and expertise as more individuals are drawn to online gaming, particularly real-money gaming. Competitive monetary prizes can be won by skillful players.

3. Entertainment

People in India are now taking gaming more seriously as it is now possible to play for real money. Games are no longer simply for fun; they're also a way for people to make money.

4. Relaxation

Web series, music, television shows, and other forms of entertainment have long since faded from people's lives as a source of enjoyment and stress relief. People are less stressed and more relaxed as a result of the availability of mobile gaming alternatives and enhanced broadband access.

1. Attract More Players with Money-Making Opportunities

Mobile gaming, low-cost internet, and digital payments have all caught the eye of a sizable segment of the Indian population. As the concept of "responsible gaming" has gained traction, users have come to recognize that playing video games online is a risk-free and highly gratifying experience. For the foreseeable future, all of these variables point toward a significant uptick for the business.

2. Variety in the Game Selection

Online gaming's meteoric rise has spawned an arms race among industry players in search of the best and most diverse selection of games. With sites like HappyLuke offering a wide range of games, engaging promos, and generous payouts, other sites are feeling the need to follow suit.

3. Transparency and technology are key to building trust.

Technology has unquestionably played a significant part in propelling the online gaming business ahead at breakneck speed. To keep participants happy, the business has always been aggressive in embracing new technology Regulations, security, transparency, and the needs of participants are expected to increase significantly for organizations that stay in pace with technological innovation.

Indian online gaming has seen a dramatic increase in the last few years, propelling it into the five top mobile gaming markets worldwide. Online gaming is the next big thing, with a 38% annual growth rate. According to a KPMG study, India has the second-highest number of online gamers in the world, with 420 million, second only to China.

Indian gaming is benefiting from the use of digital technology.

1. Blockchain Technology and Gaming

Because of the need for a new framework in replacing the problems that happen to exist in the paper money system, the use of blockchain technology has expanded in recent years. One of the most important aspects of blockchain technology is its application in the gaming industry.

2. Modern-Day Innovations

AI, virtual reality, and 3D designs, to mention a few, are all gaining traction in the world of technology. There has been a steady rise in the usage of online games to monitor and analyze customer involvement. Playing games on a tv video game has become more realistic and vibrant as technology has advanced. You may now play games on your cell phone using augmented reality.

3. Real-money gaming's ubiquity

Real cash games like online rummy or poker have risen in popularity in recent years, allowing players to win large cash prizes and awards from the privacy of their own homes. Real-cash gaming is now in a growth phase, and the digital adoption of gaming is fueling this growth. It's common for play-to-win games to include cryptocurrency.

4. The power of digital marketing in differentiating apps in increasingly crowded app stores cannot be overstated.

Digital media marketing is an art form, and it is linked to focusing on certain audiences with daring, brave, and innovative activities that excite customers to participate in online gaming by creating top-notch captivities. The gaming business places a high value on digital marketing, and firms across the board spend a fortune advertising their games across various platforms to stand out.

Conclusion

KPMG predicts that the number of people playing online games would climb from 360 million in 2020 to 510 million by the end of 2022. It is anticipated that the market would develop at a compound annual growth rate of 21% over the following five years, reaching Rs 290 billion ($3.84 billion) in revenue generated. Because of this, it is reasonable to predict that the industry will continue to develop at an exponential rate in the years to come, with digital adoption playing a key role.

FAQs: Video Game

Q. Why Indian video gaming industry is booming day by day?

Ans. Younger people, more money, and the launch of innovative gaming genres are just some of the factors that have led to a rise in the business.

Q. What is the net worth of the Indian Video game industry?

Ans. The Indian mobile gaming sector is expected to reach $405 million in value by 2022, according to estimates. the domestic online skill gaming industry is expected to increase from $906 million in 2019 to more than $3 billion by 2025.

Q. Who is the biggest video game manufacturing company in India?

Ans. Known for its expertise in 2D and 3D game design, production, and development, Hyperlink InfoSystem is a leading game app development company. The firm has made it a priority to have an impact on worldwide trends in video game production since its start. To date, Hyperlink InfoSystem's developers have generated over 300 titles for a wide range of audiences, from casual players to the most ardent of enthusiasts.