India’s Gaming Industry Set To Expand With Millennial Push
Over the last decade, there has been a massive increase in different sectors of the Indian gaming industry. The industry is now seen as one of the important pillars of the economy as it creates lakhs of jobs for Indians. This exponential growth is largely fueled by millennials.
Several factors have helped the millennials push this sector to where it is now. These include the increase in the availability and use of smartphones, increased internet penetration in both rural and urban areas, and affordable data plans.
In India, the total number of internet users is about 500 million, which is just around 35 percent of the country’s population. Smartphones are selling for as low as INR 6,000 and monthly data plans from service providers are as low as INR 149. All these factors bring the country second only to China in regard to the number of internet users. Also, the country is one of the top 5 online gaming markets globally.
As mentioned, the growth of the industry is reflected in all of its sectors – consoles, online multiplayer games, simulation games, and even online gambling. Below, we explain the growth in some of these major sectors.
Online Gambling:
The growth in the popularity of Indian online casinos is already proof that millennials embrace online gambling. Operators of online gambling platforms cater to their needs by offering different niches. A large number of people are drawn to sports betting, for example. Millions bet online on cricket games, football, hockey, and even esports.
Online slot games have also helped gambling platforms attract many millennials. While the older generations prefer games that take time and involve critical thinking, younger ones love fast-paced games and slots are just the perfect options at online casinos. Different forms of poker games are appreciated as well.
Despite their love for online gambling games, millennials are more careful when it comes to sharing their data online. Therefore, they tend to select platforms that offer security and confidentiality of transactions.
Consoles:
While console gaming may not be the fastest-growing section of the industry, it is also experiencing an increase. The PS5 was released in 2020, but only about 60,000 units have been sold in India so far, a very little number compared to the over 17 million units that have been sold globally. Nevertheless, the number of units sold is an indication that the interest in console gaming has grown over the years.
At the moment, both the Xbox Series X and the PS5 are competing to attract more users to the console gaming section of the industry. Gaming influencers are also playing a role in this. Ankit Panth, Tech Khurana, IndianSoldier1, and Xyaa are some of the most popular influencers who consistently promote console gaming content, reaching Indian and global audiences.
Console development studios in India are also playing their part. According to industry stats, India has about 118 console and PC gaming startups at the moment. Firms like Sumo Pune have been able to create popular games like Sackboy: A Big Adventure and Hitman 2.
Online Multiplayer Games:
From real-world multiplayer (consoles), the industry graduated to mobile online multiplayer gaming which has become even more popular. According to TheBridge, online multiplayer games make up approximately 40% of the overall gaming industry. This is no surprise as multiplayer games are a great way to socialize.
Many online gamers are introduced to multiplayer gaming apps and platforms by friends, families, or relatives who hope to play and socialize with them. According to a report by KPMG, multiplayer games engage more than one-third of the Indian gaming population by giving them the “opportunity for social interaction and a sense of achievement over other players”.
Another factor that caused a spike in the multiplayer gaming segment was the COVID-19 lockdowns. Social multiplayer games such as carom, pool, and Ludo gained popularity during the period. There was also an increase in the popularity of Battlegrounds Mobile India.
Even after the lockdowns, the growth has not reduced. For instance, the Ludo King recently became the most downloaded game of all time in India, according to Inc42. Not only has it attracted millennials but also players of 45+ years.
Simulation Games:
While this section of the gaming industry is not yet as popular as the others, it certainly going to play a big role. According to Statista, the total revenue from the Indian Simulation Games segment is projected to reach USD 32.20m in 2022 while the global market will reach USD 18.68bn in the same period.
Nazara is an example of an Indian tech company with simulation games. It has over 8 sports simulation games including World Cricket Champions and World Table Tennis which are available for download on the Google Play Store.
This BW Partner content is neither authored nor edited by BW editorial team. BW is not responsible for the content of the article.
