Online Gaming Industry in India Bigger Than Ever
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The online gaming industry has seen exponential growth in the last decade and the major factor that has led to this is evolving technology. The digital infrastructure has seen a rapid development leading to better opportunities and advancements. The way users use smartphones has certainly redefined the way technology is consumed. Owing to the growing influence that smartphones have on our day-to-day lives, there has been a constant upswing in the online gaming sector. A high-speed Internet with a smartphone is an unrivaled combo for anybody who is tech-savvy, a gaming enthusiast, a movie buff or simply habituated to the Internet. Gaming is one such pass-time that attracts millions by the day. With better graphics and concepts, these online games offer a thrilling experience to the gamers. Due to notable transformation in the gaming ecosystem, there has been a shift from traditional board games to online gaming.
According to a report titled ‘The Evolving Landscape Of Sports Gaming in India’ by KPMG India Private Limited and the Indian Federation of Sports Gaming (IFSG), India’s first and only self-regulatory industry body for the sports gaming sector, “Fantasy sports and the gaming industry is set to witness a massive growth in India growing from INR 43.8 billion to reach INR 118.8 billion by FY23 at CAGR 22.1per cent.” This report in itself provides an overview of the online gaming industry with a focus on fantasy sports and eSports.
These online games appeal to every individual from every age bracket. From kids to 60-year-olds, everyone has a preference. From crushing candies and smashing balls to rolling the dice and playing the cards, there are immense options available for them to explore and choose from. Due to the elevating demand for these games, there have been new portals and segments that are entering this ever-evolving industry. With each passing day, these portals see money continuously pouring in and the numbers of gamers rising. One a global level, about 50per cent of the world gaming population is located in the Asia Pacific region, India being home to one-tenth of the world’s entire gaming population. With at least two startups coming up every month, the country is already one of the top five countries for mobile gaming in the world at a worth of $890 million. Adhering to this growing trend, the number of game developing companies in the country has also grown by leaps and bounds. Today there are 250 such players in the market grown from a mere 25 in 2010. This rise in popularity of gaming creates a number of opportunities on a number of fronts, opening a number of untapped avenues.
It will not be incorrect to quote that today the gaming industry is one of the most promising markets and has a lot to offer. With game developers introducing innovative graphics and concepts, continuous progress in technological developments, increased investments and a rapidly growing audience, the future of the online gaming industry is set to only roll higher than ever.