The gaming industry in India has been on a steady rise over the past few years, and the trend is expected to continue in the foreseeable future. The Indian gaming market, as per various reports, has been estimated to be valued at around USD 1 billion in 2020, and it is projected to reach approximately USD 5 billion by 2026, growing at a CAGR of around 20%. The country is set to become one of the leading destinations for the gaming industry, thanks to its large youth population, increasing disposable incomes, and rising smartphone and tablet usage.
One of the most significant shifts in the Indian gaming industry is the increasing focus on game development. More than 200 game development companies have emerged in the past few years, creating their own intellectual properties in games. The COVID-19 pandemic further accelerated online gaming in India, massively driving usage up for games. According to a report by the Broadcast Audience Research Council India, the average time spent by gaming users per week in India increased by 44% during the pandemic, reaching 3 hours and 38 minutes per week.
Furthermore, the smartphone penetration rate in India has increased in recent years, largely driven by rising internet penetration, government initiatives, and low data rates. According to the India Cellular & Electronics Association, the total number of smartphone users in India is expected to rise to almost 830 million by 2022, fueled mainly by open operating systems like Android.
The government has also taken initiatives to support the Indian gaming industry. For example, the Science and Engineering Research Board has launched a digital gaming research initiative to support the research space and industry in the country. The initiative aims to develop indigenous technology platforms and apps, design digital games with an emphasis on Indian culture and values, and research and develop learning, educational, and leisure online gaming platforms.
The Ministry of Information and Broadcasting has also established the Animation, Visual Effects, Gaming and Comic Promotion Task Force to support the Indian AVGC industry, which has the potential to carry the “Make in India” and “Brand India” banners. The task force aims to increase the sector’s contribution to the Indian economy and create more than 160,000 new jobs in these sectors.
This presents a huge opportunity for gaming companies to create innovative games which not just target global audience but also showcase and incorporate Indian values and cultures. Games which are modern, interesting and unique but games which can also find its roots in India.
In conclusion, the Indian gaming industry is on an upward trajectory, driven by factors such as a young population, rising disposable incomes, and increasing smartphone usage. With the government’s support and initiatives, the industry is poised for even greater growth and is expected to make significant contributions to the Indian economy in the years to come.
