It’s no wonder that the gaming market of India is definitely growing as many games are being released and youths are getting into gaming and making their hobby into careers.
Gaming at first was perceived to be just a hobby and people were taunted when they played games for hours. Today the perception is changing as people are transforming their hobby into a million-dollar career.
Today, a gamer has the scope of earning over millions of and even billions by just playing games.
The Indian gaming market, estimated at $338.4 million in revenue in 2017, It’s expected to grow threefold in four years, backed byInternet penetration, sustained local development because of government who’snow installing the internet connection in rural and urban areas, improved via digital-payment infrastructure and preference towards the subscription model.
The Indian gaming market is forecasted to grow to $1.1billion in 2021, almost entirely driven by growth in mobile gaming revenue, Frost & Sullivan said in a report.
The global games market generated revenue of $104.8 billion in 2016, an increase of 12.6% from 2015. Global revenue is likely to increase to $151.7 billion in 2021.
“Growth is expected to be driven from South-East Asia, the Middle East and India as these regions have an advantage of optimistic economic outlook, favorable demographics and rising growth in smartphone penetration and Internet,” according to the report.
As per the Frost & Sullivan report, while in the past, reluctance from the consumers to pay for games had led to heavy reliance on advertisement-based monetisation, in the long term there will be growth of freemium models (a business model, especially on the Internet, whereby basic services are provided free of charge while more advanced features must be paid for) coupled with in-app purchases.
Experts said that they believe that the male audience, through cricket mobile games, will drive this growth. “Gaming is growing in India but is not growing at the same rate of the video. We believe that as people become more comfortable in mobile Internet, gaming will become the entertainment destination,” said Manish Agarwal, CEO, Nazara Technologies Ltd., a leading mobile gaming company.
“If there are 120 million gamers in India today, we believe there will be 300 million games in three years. Their spending time on playing games will increase from 10 to 15 minutes now to 45 minutes to one hour. Then, we can build a meaningful business and the revenue from gaming will explode.The market is going to grow as the Internet infrastructure strengthens,” he added.
“There exists a huge potential in gaming market in India.Over the next few years, we should see the emergence of global gaming giants out of India,” said Nishith Shah, co-founder, and CEO, 18th Parallel, a console gaming company.
Mobile gaming in India is for sure increasing every day. We can see people hooked up on games like PUBG, Dream11, World Cricket Championship around us. People are slowly getting addicted to mobile gaming and due to that various companies, that started the development of gaming mobiles.
What games do you play on your mobile?
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