SEP 01, 2023
From Hobby To Career: India’s Gaming Industry Is Poised To Take A Leap In Coming Years
JUN 22, 2023
With around 420 million dynamic gamers and a digitally active audience of 500 million aged between 15-35, the Indian gaming industry has seen massive growth and teen involvement in recent years. Moreover, the industry saw a surge during the global pandemic. India is now poised to become one of the fastest-growing sectors in the global gaming industry. With one of the largest youth populations in the world, India is expected to be one of the leading markets in the gaming industry. Various reports show, after experiencing five years of continuous growth, the global gaming sector is projected to triple by 2025, reaching a staggering $3.9 billion.
India's rapidly growing $1.8 billion gaming market is fueled by mobile-first games. A report by the Boston Consulting Group and Sequoia on India's mobile gaming sector shows that more than 300 million Indians play mobile games, and the gaming sector as a whole has grown at a compound annual growth rate of 38 percent in 2019-2020 and 37 percent in the previous fiscal year. Industry leaders have outlined the future trajectory of the gaming business in India. The next phase of online gaming growth in India, driven by the accelerating adoption of 5G, Cloud Gaming, and Portable Gaming devices, among others, was highlighted at the second India Gaming Conference 2022, according to media reports.
With a plethora of new trends emerging in 2022, the gaming industry is set to undergo a metamorphosis. 2023 is a year of technological advancement and innovation in the skill-based gaming sector. Vernacular gaming is also expected to take off, and the industry will move beyond games as leisure or entertainment and become a powerful tool for impactful brand engagement.
The Indian gaming industry is flourishing and reaching new heights with advancements and innovations being introduced every day. A thorough analysis of how the industry is growing in different ways is easily accessible.
The Indian esports industry has been recognized by the Government of India as a significant part of multi-sport events, which will be overseen by the Ministry of Youth Affairs and Sports. This makes 2023 even more exciting for Indian esports. A recent study projects that the esports industry will grow to $4 billion by March 2027, compared to $1.1 billion in 2022. The rapidly growing young population, widespread smartphone use, and expanding economic spending are some of the factors that have contributed so far and will continue to do so in the future.
Console gaming has recently become very popular in India. The introduction of cloud gaming platforms has revolutionised the gaming industry and is expected to have a significant impact on the sector as a whole.
The Indian video game industry is thriving, with many gamers choosing it as a career option. Given the current rate of change in the business, the next generation can successfully choose it as a full-fledged career. Industry experts predict that the Indian gaming industry will create 10,000-12,000 direct and indirect jobs in 2023.
Live streaming and interactive engagement through social media are key drivers of the growth of mobile gaming. Viewers can directly interact with gamers and teams through dedicated streaming channels, and social media has enabled these connections to flourish. The widespread penetration of smartphones, primarily due to the pandemic, has also increased the number of network operators offering affordable data plans, making mobile gaming more accessible.
Looking at the unprecedented growth of this sunrise industry, the adoption of next-gen technology such as 5G, 360-degree video, augmented and virtual realities (AR and VR), and Web3 will play a critical role in its growth. The recent introduction of 5G in the Indian ecosystem is expected to have a significant impact on the gaming industry in India. It is clear from the statistics that the gaming industry is booming both as a hobby and a lucrative career in modern India and is expected to soar in the future.
(The author is the CEO of DesiAddaES, an interactive esports platform)
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