Faster digitisation, catalysed by the pandemic, and the availability of popular games/titles have propelled the Indian online gaming business to new heights.
Driven by smartphone and internet usage, ecosystem investments, digital payment uptake, and upcoming technologies, the industry is well-positioned to be one of the fastest-growing gaming sectors.
What we are experiencing now is not a boom but rather something that would have occurred eventually. The Covid-19 pandemic just accelerated the phenomenon’s onset.
According to a KPMG analysis, as more Indians resort to online gaming, the markets size is predicted to climb to $510 million in 2022, up from $360 million in 2020. In terms of revenue, the market is expected to increase at a compound annual growth rate of 21% over the next five years, reaching Rs 290 billion ($3.84 billion).
The Key Factors That Boost the Indian Gaming Sector in 2022
As we expect the online gaming segment to be one of the largest in the M&E business, here are some of the factors that have led to the massive growth of the Indian gaming sector in 2022.
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Large Wagers on Real-Money Gaming
Affordable internet data and widespread usage of digital payments have made real-money gaming an even more appealing choice for a vast audience previously unaware of it.
As players realise there is a low-risk, high-reward aspect, the gaming industry will see significant growth in new-paying users (NPU) as new channels open up.
With more individuals becoming interested in online gaming, and authentic money gaming, the gaming industry has created opportunities for gaming enthusiasts to monetise their passion and expertise.
Gamers can use their talents to play and win highly competitive cash prizes at the various online casinos for Indian players. Given the size and freshness of the market, we should expect stricter norms and tighter restrictions. Responsible actions will ensure a safe gaming ecosystem for everyone – the government, businesses, and gamers.
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The Union Budget
The union budget, given to Indians in early February, brought applause to the gaming sector. The stakeholders praised the action by Finance Minister Nirmala Sitharam, who revealed intentions to establish a task force to promote Visual Effects, Animation, Gaming, and Comics.
With the announcement, stakeholders have focused their attention on the government’s role in developing the country’s AVGC industry.
Recently, the union budget that the finance minister published will enhance domestic capacity and is also expected to create employment by creating more jobs in the country.
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Extensive Promotion
The Indian gaming sector is gaining prominence due to major marketing campaigns implemented by operators. As enterprises compete for a piece of the Indian gaming sector, we are seeing more operators engage more in traditional and digital marketing strategies.
This means that more people will be able to learn about gaming websites. We will see a rise in the number of gamers joining up as the general public gets more aware of the convenience of playing games online.
Operators may now readily contact their target population thanks to digital marketing. Paid ads, influencers, affiliate marketing, and social media marketing are some of the operators’ most successful digital marketing strategies.
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Availability of a Wide Range of Games
The rapid expansion of online games has created a race among stakeholders to provide better and more gaming possibilities.
With sites offering a wide range of games for players, engaging promos, and huge payouts, other sites are feeling compelled to join the race.
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Access to the Internet
India is one of the few countries where internet connectivity is available. This makes it possible for gamers to simply engage in online gaming activities. We foresee an increase in online gaming as the government commits to rolling out 5G broadband across the country.
Indian gamers now have access to high-speed internet providers thanks to 5G. As a result, one can join an online gaming platform and begin playing online games immediately. Furthermore, the ability to carry massive quantities of data across a 5G network has significantly improved online gaming settings, tempting more gamers.
This means Indian players can save money on commuting to and from physical gaming establishments. It is also beneficial for those who do not wish to sit in busy gaming areas.
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Increased Security
Indian gaming sites are growing safer as they use innovations like 2-step authentication, data encryption, and blockchain technology. As a result, more gamers are joining online gaming sites, convinced that their personal information and finances are safe.
You will not have to put your money at risk as a gamer when playing online. Online gaming sites have evolved into a practical substitute for their physical counterparts, with users feeling safe and more at ease when engaging with them.
However, this does not mean that the internet is free of hostile black hackers. You must still take all essential steps to prevent being a victim of data phishing operations.
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Several Payment Options
The Indian gaming industry is also growing in popularity as a consequence of the various payment options accessible at these gaming sites. Indian operators have opted to give several deposit and withdrawal gaming options to satisfy those who use gaming sites.
Every Indian player has a preferred banking method. Operators are unwilling to risk losing Indian customers just because they do not accept their preferred gaming payment method. The most popular gaming payment options among Indian gamers include Visa, MasterCard, PayPal, Citadel, Interac, and PaysafeCard.
These banking options make it easier for Indian players to fund their accounts and cash out winnings. Players are getting more at ease with dealing with gaming sites as online banking security improves as a result of data encryption technologies.
Conclusion
As a consequence, there is no question that the Indian gaming industry will continue to grow and become a market leader in the entertainment area. Operators will continue to embrace technology breakthroughs and novel concepts to give ever more exciting, intriguing, and interactive goods and services.
Due to the convenience and other perks highlighted in this article, most Indians prefer online gaming platforms. We hope you now understand why the gaming industry in India is expected to grow even more in 2022