India Digital Gaming Market
The India Digital Gaming market is forecasted to expand in the upcoming years. The demand for games in India is on an upward curve, and the country now has more than 200 game development companies, with at least two start-ups coming up every month. The India Digital Gaming market is projected to register a double-digit CAGR dominated by revenues from mobile games.
The expanding smartphone user base and rising internet penetration are the key driving factors for the Digital Gaming market in India. Also, recent improvements in mobile internet accessibility by companies like Reliance Jio, with their disruptive market strategies is expected to strengthen the market growth as it will enable gamers to play digitally-downloadable games without any speed issues. Given that, companies like Paytm, Tencent and Nazara Technologies are investing in the Indian gaming market, it is expected to be one of the significant countries for mobile gaming in the world.
Additionally, rising disposable income, coupled with favorable governmental initiatives of making a Digital India is enabling gamers of the country to embrace entertainment and digital content at an increased level, thereby, boosting the overall growth of the market.
The India Digital Gaming market is segmented into PC games, mobile games, and console games. Among these segments, mobile is the fastest growing segment, as well as the most significant revenue generator owing to the increased average time spent on smart devices and the inclination of gamers towards mobile and online gaming. Console games revenues are expected to register significant growth as most of the population is under the age of 34, thereby presenting a lucrative growth opportunity for the console game companies.
Key growth factors:
o The key growth driver of the India Digital Gaming market is the demographics of the country. India is young and digital gaming particularly on smartphones is one of the essential entertainment choices of the people. Young internet users have a higher propensity to play online games as they are usually more exposed to technology and online platforms.
o The rise in disposable income is also expected to result in higher expenditure on Digital Gaming and thereby increase adoption and usage. Improvements in internet network access is expected to strengthen the market growth as it is going to enable gamers to play digitally-downloadable games without any speed issues.
Threats and key players:
o Internet and smartphone penetrations in the suburban and rural areas of the country are still at a minimal level. These often negatively impact the growth of the market.
o Additionally, the prevalence of piracy in India is a significant deterrent to the growth of the industry. Easy availability of pirated games enables gamers to play the games for free or at a relatively lesser cost and that affects the revenues of companies.
o The key players in the India Digital Gaming market are Activision Blizzard, Nintendo, Sony, Dhruva Interactive, etc.