How Big Will Indian Gaming Industry be in the Next Five Years
Perhaps one industry that is taking significant strides of growth in the last couple of years in India is the gaming industry. The mobile revolution in the country has been catalytic to this growth. Gaming was unheard of to a vast majority of the people, let alone playing console and PC games. The mobile phones have been the game changer. Their faster penetration into the remotest parts of the country has led to the growth of the gaming industry in parallelly. Suitably supported by better mobile internet services and lucrative data plans, the gaming industry in India has found its niche in mobile gaming.
Smartphones have been hugely instrumental in the growth of the gaming industry in the recent years. An industry that struggled to find its foothold in the last two decades is all set to register impressive growth in the coming years. According to Google-KPMG report, Indian online gaming industry is expected to touch USD 1 billion by 2021 from the current figure of USD 360 million. What is truly astounding is the growth rate which is pegged at a whopping 20 per cent. According to a report by Statista, the Indian mobile gaming market is expected to grow to USD 405 million by 2022.
Domestic gaming companies
The Indian gaming companies have increased in line with the growing consumption of games in the country. The number of local gaming companies which currently stands at approximately 250 companies is expected to grow beyond 400 plus developers in the next four to five years. The content of the games based on local themes and preferences coupled with their availability in regional languages have been the major contributors. Companies like Junglee Rummy have successfully tapped the Indian gaming market with traditional card games like Indian Rummy. With improved quality and graphics, and enhanced gaming experience, the home-grown companies are taking on the global players head-on.
Smartphone user population
The key drivers of the growth have been the affordability of cheaper and better smartphones in the country, among both the rural and urban population, and the extensive internet penetration too. Today, smartphones are available at prices less than INR 10,000. From 290 million smartphone users in the country, it is expected to reach 470 million users by 2021. Besides, India has pushed behind countries like the USA to become the second largest country in the world in terms of smartphone user base after China. On the other, the internet penetration which currently stands at 31 per cent is expected to reach 53 per cent of the population by 2021.
Online gamer community
With the internet users growing from the 409 million users to 735 million users by 2021, online gaming is poised for a massive surge in the number of online gamers too. From the current 120 million gamers the gaming industry expected to see a steep hike in the number of gamers to 310 million gamers by 2021. Several factors such as an increase in the development of local content, higher disposable incomes, and the rise in digital payment users will propel the growth of the online gamer base.
As the online gaming industry is poised for impressive growth, the Indian gamers can enjoy all the way.
About the author
Ankit Srivastava is a Digital Marketing Strategist by profession & Blogger by passion. He loves writing on various topics as per his interest. Apart from blogging, he is a big foodie & love clicking pictures of his favorite food items. Whenever he gets free time from all this, he goes to explore different places of India. Read more