Online gaming has become a promising investment in India due to numerous factors. Ever since 2016, the online gaming industry in the country has been going at a considerable rapid pace.
In 2016, the industry, mostly dominated by mobile games, stood at the value of US$290 million. By 2021, statistics predict that it will reach over US$ 1 billion, with more than 628 million gamers.
There are myriad factors that support the sector to be among the most profitable investment in the country. Apart from the rising popularity of online mobile games, India has a strong supportive market for the industry.
To begin with, India has a major population of people under the age of 25. Accordingly, the population is arguably perfect for a gaming industry to bloom.
Another factor is the availability of affordable smartphones and their users in the country. Being second to none other than China, India’s smartphone users will predictably soar into 859 million by 2022 from 468 million in 2017.
Strong internet and digital payment penetration also contributes to the rise of the industry. By 2022 and by 2021, digital payment users will potentially increase to 300 million users and internet users will escalate to 829 million users.
Online Gaming Industry in India during COVID-19 Lockdown
During the coronavirus pandemic, people must stay at home due to the nationwide lockdown. Amidst the phenomena, online gaming activities have significantly risen.
Popular games in India such as PUBG Mobile, Call of Duty Mobile, Ludo, and Rummy saw a growth of more than four or five times the usual. Average time spent on gaming also increased from 32 minutes to 45 minutes.
A study by Federation of Indian Chambers of Commerce & Industry (FICCI) disclosed than online gaming in India might even grow faster than the global online gaming industry. Game industry giants such as Ubisoft and Rockstar Games have also begun investing in the country.
Despite everything, the rapid growth of the industry does not happen due to one single phenomenon. Over the times, these games have participated in celebrating Indian national days such as Holi and Diwali, gaining the favor of the communities.