India’s Online Gaming Industry: Market Profile and Growth
Statistics show that the Indian gaming market is the fastest-growing one in the world.
Online Gaming: In 2019, there were 357 million gamers in the country. But the number is continuously rising.
The industry experienced drastic growth at the beginning of 2020 due to the pandemic. When other businesses shut down, the gaming industry got lots of new users. The number of gamers doubled after the lockdown and is expected to rise in 2021 too.
Here are the significant factors that contributed to the rapid expansion of the gaming industry in India!
Investments by Chinese tech firms
Chinese tech companies invested in the Indian gaming market. According to estimates, they managed to invest over $8 billion in the tech sector. Companies such as Alibaba and Tencent gained stakes in some of the top Indian gaming companies. The government put certain restrictions on Chinese investments during the COVID pandemic. However, this didn’t stop the investments from coming. Paytm First Games and Daraz launched a successful gaming platform in Bangladesh. Daraz is a Pakistan based company that was acquired by Alibaba.
Tencent experienced a fall due to the lack of sporting events in the lockdown. But, they chose to invest in Dream 11, as they saw potential in the platform.
However, Chinese investments cow with certain risks. Some fear of systematic risks or data loss.
Easy access to “illegal” games
Playing at casinos was a massive challenge for India. Before the online casinos appeared, people could only play in Goa or Sikkim. These states were the only ones that legalized casinos.
The appearance of online casinos made gaming accessible for the whole territory. Sites like allow you to enjoy your favorite casino games online. You can pick the one that suits your needs and play as much as you want without restrictions.
To make it easier for users, many smartphone apps have the option of purchasing casino coins. This way, they don’t play with real money.
Esports enjoy huge popularity(Online Gaming)
The Esports sector in India is growing, like in the rest of the world. There are a few startups in the industry, making it an investment-friendly sector. JetSynthesys and FanMojo are some of the new businesses introduced to the market. This has opened many new options for entrepreneurs in India. But, there are a few downsides. Esports require suitable hardware for performance. The hardware prices are high, so not many companies can bring the new advanced option on the market.
Skill gaming options
Youngsters in India love to play skill games. The online availability of different games has taken this sector to a whole new level. There are many various sites available so that Indians can choose their favorite games. However, the market needs to expand the options and offer many more choices for any taste. The skill gaming market lacks innovations that could elevate the gamer’s experience. The game providers need to introduce more free games for passionate players. They can have extra features ready to purchase, but the basics should be free. Or, companies should add free demo versions to offer a glance at the gaming experience before the player buys a game.
Mainstream accessibility to smartphones
The smartphone market plays a crucial role in the gaming industry. The increased competition requires offering more reasonable prices. As a result, anyone can afford a smartphone with great features. Combined with the availability of faster internet connection, this creates the perfect conditions for online gaming growth. As mobile technologies continue to develop, the prices will be significantly reduced in the future. The market will grow even more when more people get access to a mobile devices.