India’s Online Gaming Industry Expected to Grow by 41%

October 12, 2020 0 comments

India is a country that keeps rapidly growing and has a population of 1.3 billion people. This has allowed many industries to turn to India for success.

It’s only in the last few years that India has taken a liking for online gaming. The online gaming industry is still quite an unexplored area in India but the companies that have taken the leap are flourishing, and are now expected to grow by 41% in 2021.

Let us take a further look as to why the online gaming industry in India has quickly risen.

 

The Second Largest Market in the World

With India being the second-largest market in the world for app downloads, the online gaming industry is expected to at least double its investments in the next 1-2 years. This innovative country has currently over 400 gaming startups where more than 500 million people are smartphone users.

According to Pankaj Karna, managing director of Maple Capital Advisors, the industry has this year grown by 22% and will continue to grow by 41% in 2021. This is because of the growth of digital infrastructure and a massive rise in quality with engaging gaming content.

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The Hub for Innovative Technology

India is no doubt ahead of the curve when it comes to technology and online gambling. The country is rapidly growing smart cities and eGovernance trends by having faster connectivity with the newest form of network, 5G.

5G offers a much faster network with higher bandwidth which allows an overall better performance for online users. This is how the technology hub will continue to move faster than the majority of any other country.

In comparison to 4G the smart cities are able to utilize the network technology a lot quicker and eGovernance companies can process their work in half the time. This allows other industries to soar and one of them is the online gaming industry.

Another major key point is the level of investors pumping money into the industry where it was reported in 2019 that the gaming industry in India has a net worth over 62 billion Rupees.

Because of a large customer base in India and their incredible workforce, high-profile foreign companies are starting to partner up with Indian software companies.

It has been reported that a Chinese software company plans to put a rough estimate of $10 million dollar into developing India-based gaming companies.

Other software companies from Europe have expanded their gaming company to India where they’ve been able to attract people from the Indian market by opening up new offices. This has given the Indian people new work opportunities as well as new entertainment.

 

Online Gaming and eSports Competition

There have been major growth areas in the gaming industry and that includes online casinos as well as eSports competition. Indian firms have become global leaders in fantasy and eSports gaming with over $450 million in funding over the last six years.

According to Forbes India, online eSports companies such as Mobile Premier League (MPL) organise online gaming tournaments. This has allowed struggling chess players such as VS Rathnavel to win 253 chess games in only 12 hours. The young player took home a life changing prize money pot worth 5 lakhs.

India has become great for global innovation, where the gaming industry has helped to increase job opportunities that are helping towards their economy. The country will continue to enjoy this growth for years to come.

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