Digital Future Of Virtual Gaming In India
With the country being declared as the fastest growing economy, the online gaming segment is set to witness new avenues of growth in the coming years.
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From time immemorial, games have been a part of our socio-cultural life. Over the past few years, online games have seen spectacular growth in India with bigger giants already investing in it. Today these online games, enjoy a wider acceptance and are considered a career option in some cases. It is a fast growing vertical in the country.
About 50% of the global gaming population is located in the Asia Pacific region, India being home to one-tenth of the world’s gaming population. With at least two startups coming up every month, the country is already one of the top five countries for mobile gaming in the world at a worth of $890 million with more than 250 game development companies today, grown from a mere 25 in 2010. According to IT industry body NASSCOM, the domestic industry is slated to be worth $1.1 billion by 2020 and the count of gamers will rise to 628 million from under 200 million in 2015. There is no question that there is more interest than there ever was. The revenues are expected to grow at 22% CAGR from FY18-FY23. The rise in the popularity of these online games is directly proportional to the increase in the industry’s revenue. Higher revenues help in aiding the companies hosting tournaments with huge cash prizes and rewards. As per a study, about 81% of India’s population is helping the country to catch this global trend, and the country’s gaming market is set to grow by 100 to 200% in the next couple of years. Some are taking up gaming as a serious career option due to the immense popularity of online games even though it entirely is different from any alternative that offers security.
Online gaming is considered to be a stress-buster, as it refreshes and rejuvenates an individual. The gaming industry demands a certain level of commitment and dedication from players as well as game developers. The factors aiding this boom in the country are majorly cheap smartphones and affordable mobile data. Easy access available to the players from their personal computers, phones and laptops to games with no age restriction have allowed gamers from all parts of the globe to participate and indulge in these games at any given time of their preference. What makes this experience even more exciting is the introduction of technology like artificial intelligence into newer games. This creates a countless number of possibilities to play the game and makes it a more exciting experience for the gamer.
With the increasing popularity, the players are conscious enough to feverishly look out for the best, secure and transparent platforms to enhance their experience and sharpen their skills. All in all, online games are loved and enjoyed by millions and are gaining immense popularity. Online gaming is here to stay. With the country being declared as the fastest growing economy, the online gaming segment is set to witness new avenues of growth in the coming years.
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