The Rising Popularity of Online Video Games
India is a rapidly growing gaming firm with a market capitalization of $930 million and is ranked number one globally. The country has approximately 560 million internet users, making it the second-largest internet consumer. Furthermore, by 2024, investors may expect a 10-year growth projection with a &3.8 evaluation.
According to sensor data, India rose to the number one place in mobile game downloads globally during the first nine months of 2020, with 7.3 billion installs and a 17 percent market share of the installed capacity. According to Tower’s research, 50 percent of India’s population is under the age of 25, and 60 percent of the country’s gamers are under the age of 25. The KPMG’s media report states that the number of individuals who engage in gaming will top 365 million in the coming year.
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The Games Are Being Staged on Mobile Devices
Over 85% of the company’s users are on their phones, followed by 11% on PCs and 4% on tablets. The internet connection is just 30% of the time. Indian gaming and esports sectors made $68 million in revenue in 2019. Mobile gaming accounts for the most significant portion of the gaming sector, thanks to the introduction of inexpensive smartphones, which grew at 15% per year for the first five years in India and high-speed 4G internet access, and the world’s lowest data prices. With the rise in mobile gaming, these factors contribute to India’s young reaching content development.
Daily, about 34 million Indians play PUBG mobile. Most Indians have downloaded the battle royale genre title 175 million times. According to Deloitte’s Telecom, Media, and Telecommunications Predictions report, Indians are prepared to pay for services created by more disposable income at buying control parity (up 25% over 2016 norms) and more significant usage of digital payments.
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How COVID-19 Made Us Uninterested in Television
The COVID-19 epidemic revealed a shift in media and entertainment habits, with KPMG estimating a 20% depreciation in traditional sections such as film, television, and print by 2020. They predict a significant shift in gaming and digital media usage, with worldwide development rising by up to 33% to $25.4 billion in 2021. It has been welcomed by gaming platforms such as Google Play and Apple App Store, which have seen a 50% increase in participation during the lockdown. Indians currently utilize 218-minute gaming and 151 minutes before COVID-19 measurements, according to BARC AND Nielsen.
For example, Sequoia Capital and Kalaari Capital have increased their investment by 78 percent to $173 million by 2020. According to Tracxn Technologies, this is the case. In India, there are around 400 gaming industries. The surge in gaming is due to the increased demand for virtual entertainment among siblings, peers, and friends. Parents who saw a rise in effectors encouraged their children to play more games. As the use of the internet has risen in popularity, so requires more diversified material. Mobile games function as virtual social voids under challenging times, allowing buyers to connect. Gaming has spread around the globe, infiltrating both Tier 1 and Tier 2 cities and towns, as well as rural locations.
According to an Inc. 42 report on India’s video online gaming market, esports accounted for 4% of the country’s user population and just over 9% of industry revenue before the outbreak. This section is forecast to increase by 36% each year in the following three years, with a projected income of $95 in 2020. esports viewers for professional gaming competitions in India already surpassed 17 million in 2020, up from 6 million in 2017.
According to Newzoo, IP holders looking to expand their brands into new mediums would choose mobile gaming as their preferred site due to reduced expansion costs and shorter timescales. Hyper casual such as https://parimatch.in/en/online-golden-chip-roulette, hunter assassin, Talking Tom, and Carrom pool are the most well-known games. Developers continue to design mobile-first experiences with a fresh perspective that is more inclusive of female users.
How Is Advertising Changing?
Advertisers may use the real brand message to target consumers who already play the games. The demographic and character profiles of the gaming cohorts are similar. It has been revealed that almost 80% of Indians consume food or beverages regularly while playing games.
FMCG companies need this knowledge to expand their market strategy. Over the previous three years, the Indian gaming industry has grown by about 60%, and the category shows no signs of slowing down. A lot of money is made via advertisements, while some money is made from app purchases by users.
Policies Of the Government
The Indian government plays a critical role in the company’s facilitation and control. India’s Prime Minister Narendra Modi led the event, calling for the promotion of material that promotes local Indian culture. Industry data-privacy policies, such as the storage and transmission of data belonging to Indian consumers, are already being scrutinized by regulators.
India is experiencing rapid development due to e-sports and general internet gaming. It would be preferable for e-sports companies and associations to work together to overcome the problems mentioned above to preserve the current growth momentum and guarantee that India can compete with the top global destination for online video gaming in the future. Parimatch is a great step to start this gaming journey. It is reliable, trusted, and safe