Launching a new product in the market is not difficult as much as it is with maintaining its popularity. A product belonging to a totally new genre gets easily wooed by the customers just because of its novelty value. But over a period of time, the same customers might start throwing a jaded look on the product as they will find nothing impressive to continue with it. So, unless and until due care is not taken by the developer of a particular product in reinventing it periodically in concurrence to the changing needs and expectations, its presence in the market might become difficult. The unconventional growth of the online gaming sector in India, as it has been for a decade or so, looks mind-blowing and exponential. As per an article published in Entrepreneur India, India is ranked 17th in the world as far as its market value is concerned which stood at $818 million last year with an 11.14% CAGR. Let us look at the way the gaming industry has been growing exceptionally and consistently with the relevant facts and figures.
How did it all begin?
Initially, when the video gaming was first introduced, playing them was considered just as a hobby. Frankly speaking, it had its own limitations accommodating very few genres. But very soon gaming industry found a messiah in smartphones. With the advent of cheaper smartphones accompanied by fast-paced internet connections, things started turning around. The gaming sector finally found a platform wherein they could easily reach out to the gaming public with an innumerably infinite number of games of various genres. An Android or iOS store can be seen hosting several millions of games like Indian Rummy, Bejewelled 3, Game of Thrones, Traffic Rider, etc. nowadays targeting a wide variety of audiences irrespective of genders. As per an article published in dazeinfo.com, the number of smartphone users is expected to reach 337 million by the end of 2018. On one hand, the gaming industry targets the proclivity of Indians towards smartphones in promoting their games and on the other hand, there has been an overwhelming increase in the purchase of smartphones just to play the games.
Acrobatic leaps by the Gaming companies:
Each and every gaming company is responsible for the growth of the gaming sector in India as a whole. It is impossible to single out any one particular gaming company or a few gaming companies as a reason for this remarkable progress by the gaming sector. In the suburb of Bengaluru, there is a gaming center called as League of extraordinary gamers which is filled with the gamers and spectators glued to the action going on in the screens. Another gaming center called LXG which has upgraded itself with the latest gaming gears and enhanced connectivity is one of the most sought-after playing stations offering a variety of games like Candy Crush, Subway Surfers, Dota 2, Counter-Strike, etc. The reputed old gaming companies like Nazara games are on the verge of public listing shortly. So much so that Nazara games has raised $51 million in funding from IIFL Special opportunities fund as per an article published by Economic Times. Another giant called Cobx has announced eSports championships, the prize money of which is believed to be more than a crore. Not to mention about companies that provide an opportunity to play Rummy online 24×7 offering a wide variety of tournaments and cash games. Such spirited approach from the gaming companies has really revolutionized the growth of the gaming sector in India.
The following facts and figures from www.gamingshow.in confirm as to why there is every reason to believe that the growth of the gaming sector in India is quite remarkable.
a.) The mobile revenue gaming alone is expected to show an annual growth rate of 9.8% by 2022 generating marketing revenue of $943 million.
b.) India is estimated to have 3000 net Cafes out of which at least 1500 cafes have five or more machines dedicated to games only.
c.) From 19.9% as it stands now in 2018, the user penetration in mobile gaming is expected to be at 26% in 2022.
d.) The user penetration in PC gaming is no less either as it stands at 16.8% which is very much a decent figure, to say the least.
Overall the progress of the gaming sector in India has been extraordinary in the last few years. What was once considered a land of just outsourcing is now slowly being perceived as a potential place of development of new games eyeing local markets. Duly supported by the resourceful thinking and localization of many popular games by the gaming companies, India is sure to reach the pinnacle of the global gaming industry in the years to come!