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Blooming Demand for Next-Gen Innovators in India with the Popularity of Gaming
New Delhi,Sep 02: Over the past decade, the Indian gaming industry has undergone an enormous transformation. Since the expectation is worth billions in FY 2020-21, the Indian gaming industry curve seems to be ever-growing. The increase in the popularity of gaming has not only had a significant impact on the industry's revenue but also seems to have created abundant opportunities for the next generation of innovators.
The Evolution of the Indian Gaming Industry
There was a time when playing brick games on those tiny hand-held devices and video game consoles connected to the television was all that people had. For an average Indian, using an Xbox or a Playstation was a distant dream. Today, India is among the top gaming markets in the world.
Hundreds of games are available online for users to download on their mobile phones, PCs, and laptops.
According to the All India Gaming Federation, there are about 300 million online gamers, which indicates the massive surge of the remarkable evolution in the gaming industry. Moreover, big names from the national and international markets are investing in the gaming ecosystem. They will play a big role in transforming the gaming industry in India.
Factors driving the gaming industry
● An increase in the number of smartphone users in the country is the primary reason for the growth of the Indian gaming industry. In 2019, India ranked second after China, with over 500 million people using smartphones.
● Internet penetration is also playing a big role in the industry's growth. In FY 2018-19, India crossed the 636 million mark in the number of internet users in the country, and they are expecting to see a good trajectory with an 18% growth on an annual basis.
● Moreover, India is set to have the largest youth population in the world. The recent advancements in gaming technology have attracted over 62% of young Indians (below 24 years of age).
Genres in the gaming industry
From simple puzzles to fantasy sports, the gaming industry has it all. In the last decade, Indians have been attracted to different genres of games including action-based games and casual games. Due to the rise in in-app purchases and because of the increased headroom for growth, the innovation in multi-player gaming platforms with virtual gamers has bagged a lot of attention among Indian youngsters.
Apart from these, interest in the online versions of the age-old traditional games such as poker and rummy has been growing. Fantasy sports or e-sports that offer cash rewards upon winning have also come a long way in the country. A report from KPMG states that over 74% of Indians play e-sports at least three times a week.
Artificial Intelligence and Cloud Gaming
The incorporation of artificial intelligence has brought about a much-anticipated change in the gaming industry. Game developers are leveraging Artificial Intelligence to create interactive and entertaining game arenas to meet the growing demand for better gaming experiences. Cloud gaming is also evolving at a rapid pace to enable easy access to hi-tech games. Industry giants such as Google and Microsoft see a promising future with Artificial Intelligence/Cloud and are willing to invest substantial amounts in the country.
The Current Scenario of the Indian Gaming market
According to recent studies, there has been a 10X increase (from 25 in 2010 to more than 250 at present) in the number of game development ventures in the country. The rise of Mobile Premier League (MPL)as a gaming platform is a testament to this fact.
Currently, MPL seems to be growing at a fast pace, given its ease of access, it has already garnered a user base of over 25 million in just over a year of its existence. Through MPL apk download, it has created easy access to local Indian games such as online rummy, and fantasy sports with cash rewards.
With regards to the revenue generation aspect, a large percentage of gamers in India still prefer the free-to-play system where you get to download games for free, and developers earn money through in-game adverts or through the subscription service. However, a considerable percentage of passionate gamers are readily willing to opt for in-app purchases to enhance their gaming experience. A spike in in-app purchases for action games followed by strategy and casual games has been observed.
The Need for Next-Gen Innovators
From being mere sources of entertainment to serving educational purposes, the gaming industry has undergone a tremendous transition over the past couple of years. As the demand is increasing for realistic gaming, continuous improvements and developments are happening in creating user-friendly gaming interfaces. This will create endless opportunities for the next-gen game developers substantially.
Indian youngsters are keen to use indigenous gaming platforms and are looking forward to enjoying gaming in their local or regional languages. Hence, the need for Indian developers to take over the gaming market is vast, and job opportunities will be created.
The Future Ahead
Considering the pace at which the Indian gaming industry is advancing, it won't take much time for India to turn into a global gaming hub. However, gaming ventures and developers must evaluate the current market needs appropriately, make effective use of the cognitive technologies, and create indigenous gaming ecosystems.