Online Gaming Industry in India
Gaming industry in India set to become billion-dollar business
The online gaming industry in India is set for a massive boom, with experts predicting it could smash through the billion-dollar barrier by 2021.
According to research conducted by accountancy specialists KPMG, a surge in the volumes of mobile internet users is powering rapid growth across the country.
Read on as we take a closer look at the rise of the gaming industry in India.
Social media sparks Indian interest
Console and PC gaming first came to prominence in India during the early part of the century, but it was the upsurge in social media usage that sparked widespread interest in the genre.
People across the age spectrum started to discover different types of online games that were largely made by global developers.
Advancements in smartphone technology fuelled further growth, with an increasing number of people able to access their favourite games on the move.
With consumers in India becoming increasingly confident about using mobile devices for entertainment purposes, the online gaming industry looks poised to enjoy major revenue growth.
An industry on the verge of exploding
An improvement in the age and gender equality in the online gaming population in India could be a key factor in providing increased revenues for the industry over the coming years.
Freemium games should also contribute, helping to create better economics for gaming companies to cash in on the increased use of mobile technologies.
Emerging technologies such as virtual reality and augmented reality could also become a commercial reality in India, further contributing to industry growth.
e-Sports, gamification and new gaming content specifically customised to appeal to Indian players are predicted to be other contributory factors.
The online gambling conundrum
Online gambling remains a relatively new phenomenon in India, with regulatory issues still clouding the landscape there.
While Indian betting operators cannot run online sites that promote games like roulette or sports betting, offshore companies are not prohibited from offering their services.
Huge companies like 10Cric and Betway currently offer online casino games and sports betting for Indian players, but changes in regulations could result in massive online gambling growth in the country.
With the prospect of the government raking in huge amounts of tax revenue from online gambling, it seems highly likely that the position regarding regulation will change sooner rather than later.