Around the world, gaming has emerged as one of the fastest growing – and rapidly changing – industries. Thanks to the rise of new technologies such as livestreaming, what was once seen as a private pastime is now big business. And in India, the market isn’t slowing down any time soon.
In 2019, the gaming industry in India was worth an estimated 62 billion Indian rupees. By the year 2024, this figure is expected to skyrocket to a staggering 250 billion rupees, with an increasingly high percentage of this coming from mobile gaming.
A decade ago, it would probably have been inconceivable that online gaming would outstrip both the movie and music industry in terms of revenue. But there are a number of factors which have helped to facilitate e-sports’ new status as the world’s favourite entertainment sector.
In this post, we’ll be exploring why India’s gaming market is continuing to grow.
The rise of mobile gaming
It wasn’t that long ago that the height of mobile entertainment was the game ‘Snake’. But today, developments in mobile gaming have made it possible for us to enjoy high-tech (and high-definition) games on the go.
Driven partly by the fact that smartphones are becoming more affordable, the mobile gaming market is expected to hit $405 million (in US dollars) by 2022. There are almost 630 million mobile gamers in the world, so the demand for playing games on our phones – from www.indiaslots.com to online tournaments – has never been higher.
India has the largest population of youths in the world, and it’s no surprise that this generation is driving the gaming market. Tech-savvy and increasingly intolerant of poor services, today’s under-24 year-olds are buying into the digital world in a way which simply wasn’t possible for their parents and grandparents.
According to statistics in 2016, more than half of the Indians who describe themselves as ‘casual gamers’ are aged 24 or under. This figure is even higher amongst ‘heavy gamers’, of which 66% fall into this age bracket.
Interestingly, 88% of these ‘heavy gamers’ reported that they preferred to play games on their mobile as opposed to traditional desktops or games consoles.
The inaugural Fortnite World Cup, which was held in New York in 2019, proved that online gaming has crossed over into the mainstream. The 23,700-seater stadium where the championship was held completely sold out, while an estimated 2.3 million people watched the world cup via the streaming services Twitch and YouTube.
Social media has been absolutely critical to the rise of online gaming. Video game influencers on platforms such as YouTube and Instagram have turned what used to be a solitary activity into some of the most viewed (and most valuable) content on social media.
The YouTuber PewDiePie – whose real name is Felix Arvid Ulf Kjellberg – is famed for his playthrough video content. In 2013, his channel was the most-subscribed on Youtube and remained so until 2019, when it was surpassed by that of T-Series.
As social media continues to bring gaming to the masses and the industry grows richer, we can expect to see more players, more developers, and more key trends exploding in the coming years. Across India and throughout the world, this multi-billion-dollar market isn’t set to slow down.