| Welcome to Global Village Space

Thursday, February 15, 2024

Online gaming in India – A Serious Business Opportunity

This recent report from KPMG, which predicts about online gaming industry will surely excite you. As per the report, online gaming business will touch approx.12,000 crore in terms of revenue by 2023. It also described that there is a drastic increase in the number of game development companies in India, increased up-to 10 folds, from 25 in 2010 to 250 in 2018.

Considered as the country of youth, India is growing at a very fast pace in online games, globally. Even female gamers are making their deep impression in the gaming world. Gaming enthusiasts are no longer constrained to tier I cities only, you can find good gamer in tier II & tier III cities as well. With this much awareness, interest & opportunity, entrepreneurs worldwide are creating games to create sustainable businesses. Let’s check how gaming is a serious business in today’s world:

Market Size – Active Online Users

With an increase in smartphone and internet users, there is an increase in online gamers also, in India. As per reports of KPMG, revenues of gaming organizations are expected to rise at 22% CAGR from FY18-FY23. In the survey, 72% of respondents said, their primary motivation for playing online games is fun. Further, 69% said that there are no intersections between online games and Sports Betting.

In another survey report, online gamers in the country is about to cross 600 million+ by 2021. With these opportunities, global players have an eye to tap the Indian market. For example, you can praise guides that show which casinos accepting indian player and providing an opportunity to play and earn money.

More Monetization Opportunities

Brick-and-mortar stores almost replaced by online marketplaces, similarly, most of the offline games converted into digital games. The digital transformation of games enables several new monetization opportunities such as premium games, microtransactions (in-game sales), and in-game advertising.

Maybe the upcoming time will see more new monetization opportunities. Beyond the revenue growth opportunities, these new methods of monetization can also bring the added benefit of a higher margin as per the leverage of operating revenue from digital sources.

Nextgen Gaming Possibilities

Time has changed & now the traditional stereotype of solitary gamers squandering hours away from the eyes of their parent does not imitate the online gaming reality nowadays. Even solo-player games are providing a way to multi-player games in today’s scenario. These multi-player games are more engaging due to its social aspect, implements a sense of community, and develops a skill of team-player among the gamers as they plan strategies together to win the game.

With new technological advancements, technology like VR & AR is creating amazing user experiences in almost every genre of game. Think of an online Casino game with virtual reality technology, can be imagined if you ever experienced a casino & a virtual tour with VR. Do you remember Pokemon Go, the AR-enabled mobile game for which people went crazy, in the summer of 2016? This kind of madness is involved in online gaming, then why not modern entrepreneurs think of creating a business out of it!