Digital Gaming Market in India to Expand Considerably At Compound Annual Growth Rate (CAGR) Of 8.3% Till 2023
According to a new Research on Global Markets report, the digital gaming market in India is expected to witness a significant compound annual growth rate (CAGR) of 8.3% during the forecasted period of 2018-2023.
According to the report, India is one of the emerging destinations for global gaming companies, due to the increasing market for digital gaming and high availability of skilled game developers. Equally significant factors such as improvement in the digital payment infrastructure, increase in smartphone and internet penetration, applications available on platforms such as Android, iOS and Microsoft Windows, technological advancements and innovations, and rise in disposable income has fuelled the growth of the digital gaming market in India.
India has the second-largest smartphone user base, and studies show that the average smartphone user in the country spends four hours per day on gaming applications. Technological advancements have ensured that the newly released games in India provide a unique and incredibly life-like experience to the users, keeping the gaming population hooked and looking forward to for more.
Check out the Research on Global Markets report featured in this article:
Digital games can be played on devices like mobile, computer and through console devices which can be played across single-player, multi-player and massively multi-player formats. The improvement in wireless connectivity in the country has led to a paradigm shift from console gaming to mobile gaming in the Indian gaming industry. Adoption of Platform as a Service (PaaS), is in the pipeline for mobile gaming companies, as this will help companies create games in a short span of time.
The digital gaming market in India is classified on the basis of technology and the types of games played. Based on the technology, the market is segmented into mobile gaming, computer gaming, and console gaming. Mobile gaming is a widely popular segment in India and strategy- based games such as Clash of Clans, Call of Duty and Counter-Strike are played mostly. Major mobile game providers in India include Supercell, Elex Technology, Gameloft, Octro, 99Games Online Pvt., Dhurva Interactive, Electronics Arts Games India Pvt. Ltd., and Zynga Game Network.
The market for digital gaming is plagued by the threat of pirated games, easily and cheaply available across online platforms as well as in CD/DVD formats. Pirated games is considered a major issue facing the digital gaming market on a global scale.
Key highlights of this report:
1. Overview of the digital gaming market in India.
2. Historical, current and forecasted market size data for the Indian digital gaming market (2016 to 2023)
3. Types of games played in India-(Strategy, Casual, others) Percentage split
4. Qualitative analysis of the global drivers and challenges affecting the market and its segments
5. Porters’ five forces analysis
6. Supply chain analysis.
7. Market segmentation based on technology (mobile gaming, computer gaming, console gaming)- market size and growth forecast
8. Detailed analysis of the key developments and major innovations in the market.
9. Key market trends- (Manufacturing of powerful and affordable gaming devices, Smart and soft monetization, Pilot projects of augmented reality (AR)/virtual reality (VR) games).
10. Analysis of the competitive landscape and profiles of major players operating in the market.