It is expected that India’s gaming market, which had a value of $2.6 billion in FY2022, would increase by 27% annually. According to a recent estimate, it is anticipated to grow to a value of $8.6 billion by 2027.
The adoption of 5G technology, cloud gaming, gamification, the popularity of esports competitions, and mobile gaming devices are some of the elements that are responsible for this increase.
According to the State of India Gaming study, which was presented at the third “India Gaming Conclave 2023,” India’s gaming sector has grown significantly in recent years, making it one of the biggest in the world.
Industry analysts predict that this sector would demand special solutions suited to its particular requirements. Businesses that comprehend the Indian gaming sector have the chance to have a big effect and demonstrate their knowledge.
It’s a distinct market that requires specialized solutions. According to Nitin Goel, Country Manager for Gameloft’s India subcontinent, “smarter players will be able to make a distinct mark and demonstrate to the world what makes a right play for this market.”
Some local game developers are looking at other income streams that go beyond conventional advertising and in-game sales. For instance, it has been claimed that incorporating services like Gamezop, Quizzop, Newszop, and Astrozop has extended user sessions and raised these developers’ lifetime value.
According to Ninad Chhaya, Senior Vice President, Reliance Games, the future holds exciting adventures for both gaming businesses and players throughout the globe due to technological breakthroughs and a constantly growing global audience.
“The gaming industry is poised to transform entertainment, offering never-ending excitement and opening up new horizons of imagination, thanks to immersive experiences and ground-breaking advancements. I’m excited to participate in the India Gaming Conclave, Chhaya said.
