Looking back on 2022, we’ve seen a spectacular ascent of online gaming in India, which has been on the rise over the last few years. Despite the pandemic, the sector grew as more Indians sought immersive entertainment through video games.
As a result, this has consequently increased public awareness of the Indian gaming sector as a strong and promising domain, showcasing great potential. According to a KPMG estimate, India now has over 400 gaming firms and 420 million online gamers.
Nowadays, businesses are emerging with trends and techniques where every industry is competing to produce something unique and obtain the desired outcome, and the games industry is no exception. There is no doubt that the gaming business in India has grown beyond imagination in recent years and is expanding at an exponential rate.
According to a Mordor Intelligence estimate, the Indian gaming sector will reach $4.88 billion by 2026, growing at a CAGR of 20.38per cent. With one of the world’s most outstanding youth populations, India is predicted to become one of the world’s leading gaming market locations. A younger population is driving the country’s development, increased disposable incomes, the introduction of new gaming genres, and the fast-expanding number of tech-savvy device users, whether it be PC, mobile, or console.
The Present Scenario of Console Gaming
However, the console gaming market is still in its infancy. In comparison to other countries, the Indian market is behind in terms of adapting to console gaming. The latency is because setting up or owning a console is commonly perceived to be expensive compared to mobile games, which are simply available and accessible in an instant with a tap.
Even parents are hesitant to buy video games since they are perceived as a distraction from academics. Furthermore, marketing is a hurdle. In this market, consoles are not actively advertised – as a result, consumers are unaware of the high-end capabilities and the intense, fast-loading gameplay experiences offered by console gaming.
However, as time passes, console gaming is experiencing gradual but consistent expansion, as few industry developers are turning the tables and aiming to enter for future growth.
The Future Ahead
Console gaming is becoming increasingly popular in India and is expected to become more accepted in the coming years. With the current state of internet infrastructure growth, there is an increasing acceptance of new game genres.
The emergence of cloud gaming platforms has altered the perception of gaming and is predicted to have a significant influence on the industry. The Indian gaming industry has evolved tremendously in recent years and is set to grow even more. According to a Statista analysis, India will have 450 million (approx.) online gamers, with an 8 per cent rise over the previous year.
However, as the sector grows, so are the prospects for talented individuals to establish a future career path. As more people choose video games as a career, the Indian games industry is growing and teeming with talent. Given the velocity at which the gaming industry is developing, the next generation is more likely to make a successful career out of gaming. According to industry analysts, the domestic gaming sector will generate 10,000-12,000 direct and indirect employment by 2023.
The increase in developers will further result in the widespread release of gaming consoles. However, there are many fantastic console games in production across India, which will only highlight the high legal quality of game creation that the Indian market can produce. Furthermore, the ongoing expansion of internet infrastructure will promote the rise of console gaming in India. As the broader industry adapts to embrace subscription models and cloud gaming efforts, it is critical that gamers in India have access to the reliable connection required to go online and resume where they left off, and interact with millions of other gamers.
Final Takeaway: Paving the Way for the Future
The games industry in India has certainly proliferated in recent years. Console gaming continues to evolve as a result of technological advancements such as virtual reality, and artificial intelligence, as does the equipment used to play them. According to a KPMG report, the online gaming market is projected to expand at a CAGR of 21per cent over the next five years, reaching $3.84 billion in revenue. As a result, it is acceptable to predict that the industry will increase significantly in the next years, with digital adoption playing a significant role.
However, as we keep on overseeing additional features, gamers will be able to enjoy more realistic, vibrant, and engaging experiences. Given the present rate of technical improvement and the predicted growth of future objects, the gaming experience is likely to increase and, over time, support the console gaming industry in reaching extraordinary heights.
It truly is an exciting time for us here at Sumo India, and the overall games industry.
(This article has been contributed by Sumo India studio director Studio Stewart Neal, and AnimationXpress does not necessarily subscribe to these views)