Gaming Industry 'Comes of Age' in India
The Indian gaming industry is growing rapidly. Estimated at $338.4 million in 2017, experts are predicting a threefold growth in the coming four years. This growth is largely driven by internet penetration in the country.
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The Indian gaming industry is not new and dates back as early as 1999 when companies such as Nazara and India games were founded. Mid of 2000, more companies such as Games2win, Maujmobile, Ace2three, Rummycircle, and Zapak were founded and all attracted venture money at some stage with Indiagames getting acquired by Walt Disney in a multi-million dollar deal. With the growing base of smartphone and need for entertainment, a new age of mobile and social gaming companies have come up backed by venture capitalists. Companies such as Octro, Moonfrog Labs are successfully tapping into India’s urge to play casino games such as Teen Patti and Rummy whereas companies such as Playsimple are trying to capture the imagination of the global audience with games such as GuessUp.
The Indian gaming industry is growing rapidly. Estimated at $338.4 million in 2017, experts are predicting a threefold growth in the coming four years. This growth is largely driven by internet penetration in the country. Other factors like improved digital payments and local development have also been major contributors in the market. The industry has seen investments from giants like Alibaba backed-Paytm, Tencent, Youzu and Nazara. India is also one of the top five countries for mobile gaming in the world with over $890 million worth of market. And with the demand for games on an upward curve, the country now has more than 250 game development companies, up from a mere 25 in 2010, with at least two startups coming up every month. Experts believe that a lot of smartphone gamers are turning towards PCs for a more immersive experience.
According to a Frost & Sullivan report, the Indian gaming market is expected to reach $1.1 billion by 2021. India, along with South-East Asia and Middle East, is are growth driver for the global gaming industry. The reasons are advantage of optimistic economic outlook, favourable demographics and rising growth in technology adoption. It is no doubt that rising smartphone penetration is the prime reason for India’s gaming industry. As the global economy rides the wave of digital transformation, gaming is fast-emerging as a serious business. With faster internet speed at affordable costs, India is set to milk massive revenues from the PC gaming market. While majority of the gaming industry is dominated by console gaming, PC gaming has seen a steady uprising in the recent times where component manufacturers from countries like Taiwan are aggressively expanding their market offerings.
The computer gaming segment is valued at $84.40 million and captures 15.54 per cent share in the gaming market as per 2016 statistics. India witnessing a wave of core gamers who are willing to invest in assembling their gaming rig, is driving the PC gaming industry in the country. Advancements in hardware capabilities have also taken a giant leap and are not providing a rich, high-definition, lag-free and seamless gaming experience. Newer hardware technology developments are engaging consumers with more interactive and cinematic experience. With features such as 4K screens, high-performance graphics processors make PC gaming superior to console gaming.
Gaming computers can be a little heavy on the pockets. Most PC gamers usually resort to assembling their own custom gaming rig – which is not as difficult as it sounds. This involves six key components – CPU, motherboard, RAM, storage, case and a power unit. ASUS, Acer and MSI are some of the brands popular among gamers as they provide technology that can power up a high-end gaming machine to run latest games such as Far Cry 5, PUBG, Call of Duty: Black Ops 4, DOTA, Counter Strike: Global Offense etc. which are a fad among gaming enthusiasts.
Taiwanese manufacturers of tech components for gaming hardware have started to see a great potential in India. As the market has grown considerably in the last decade, gaming is viewed with a lot more seriousness for the potential benefits it could yield. As a matter of fact, leading manufacturers such as ASUS, MSI and some of the Taiwanese brands have already reported an increase in local sales. At the same time, other brands such as Gigabyte, ADATA and Thermaltake are also gaining popularity among gaming enthusiasts.
Gaming in India is on a steep rise due to increasing consumer income levels, adoption of advanced gaming technologies, changing lifestyle choices, and the trend of individual escapism. Moreover, India has a vast youth population of over 350 million which makes it a viable market for gaming corporations to invest towards. For countries such as Taiwan, India is fast becoming a hotbed for gamers and given the rapid growth of technological advancement and innovation, the possibilities are literally endless.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house
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