In India, 75% of the population is under the age of 45, and 60% of India’s online gamers are aged between 18-24. So, as we advance, India has the potential to become the number one online gaming market in the world.
Online Gaming is steadily gaining a strong foothold in the Indian Market. It is expected to be valued at $3,750 million by 2024.
Maple Capital Advisors sometime back released a report titled ‘Gaming – India Story,’ and it said, “Gaming Industry is expected to grow 41 percent in India. Primarily due to the growth of digital infrastructure and a substantial rise in quality and engaging gaming content.”
Currently, in India, we have around 400 gaming start-ups and few more established players like Junglee Rummy in Online gaming space. So if we talk about the online Gaming, as per the report, online Gaming can be divided into Real Money Games, casual games and e-sports.
As per different market reports, online Gaming has projected user base of more than 628 million gamers. Which consists of gamers of all ages, game developers and designers, investors and marketers all working together to take Gaming to the next level. The major uptake in revenue terms is being witnessed in Fantasy sports, which we will talk about in the latter part of the article, and skill-based games like Rummy.
So what could be the reasons that are propelling the growth of Gaming in the segment in the country?
First and foremost, In India, 75% of the population is under the age of 45, and 60% of India’s online gamers are aged between 18-24. So, as we advance, India has the potential to become the number one online gaming market in the world.
Secondly, with over 560 million internet users, India, in number two, after China when it comes to sheer numbers. If we divide the male-female ratio, it is 67% males and 33 % females. Gaming is no more associated with consoles. Now smartphones are the primary device for enjoying the game. Add to it. Smartphones have become affordable, data connectivity has improved and portability makes it possible to play gamers as per the users wish.
Another interesting trend that is being witnessed is revenues from Gaming on mobiles devices is relatively higher than that of consoles. As a result, major game developers are focussing more, creating games for mobiles users and keeping trying to improve their user experience.
Both Google Play Store and Apple Store are seeing a surge in downloads of gaming apps. As a matter of fact, games are the most downloaded apps in different app stores. A gamer just needs a decent smartphone combined with a stable internet connection and of course skills, to enjoy these games. Games like Rummy, Garena free fire and Ludo continue to attract an audience through various app stores and that too in good numbers.
Some of the companies in online Gaming like have even guide like How to play Rummy, so that first gamers have to step by step guide as well. Off late, gamer developers are also trying to capitalize on the gamers who want localized content and that too in multiple languages (Gujarati, Bangla, Marathi and so on) and themes acclimatized to the tastes of the local gaming audience. The gaming companies have started holding special games around popular Indian festivals, such as Holi, Diwali and Eid.
Online fantasy sports gaming is another segment of Online Gaming which is becoming very popular, especially with IPL underway. It is a skill-based online game where players have to create their team which comprises of real-life players from upcoming matches.
The E-sports scene is also expected to see a boom in India, especially with operators like Airtel and Jio venturing into space with e-tournaments. As per the eSports Federation of India, there are phenomenal 264 million Indian gamers, and competition prize money is increasing annually.
The growth of digital payment is also having a positive impact on Gaming. Now gamers can avail payment options as BHIM, Google pay or Paytm to do in-app purchases to move to the next level.
In 2019, India had a little over 500 million smartphone users who downloaded 5.6 billion mobile game apps. Highest in the world. Fast forward to 2020, a year which everyone would like to forget, time Indians spent on online Gaming grew by 44% in mid-May from around 11% in mid-March. Isn’t that astounding. Hopefully, as and when 5G is launched in India apart from education, health and security Gaming segment is expected to see significant uptake.