By Ankur Singh
With the launch of low-tier and mid-tier smartphones in the market and the various data packages available at throwaway prices, online gaming is no longer a luxurious pursuit for most online gamers in India. Several research reports have revealed that the increasing availability of affordable smartphones coupled with high-speed internet has prompted many people to take up gaming in small towns in India.
India’s gaming market, currently generating $1.5 billion in revenue, is expected to triple to over $5 billion by 2025 due to the “mobile first” phenomenon.
But the exciting part of it all is that it’s just the beginning.
With the increasing popularity of the Indian gaming industry, it takes advantage of the latest technologies, software and gadgets to make it even more immersive and widespread. For example, native content and localized game interfaces make online games popular even in Tier 2 and Tier 3 cities in the country. Online gaming now comes with video chat capabilities, allowing players to interact and participate in games via live video and real-time chat.
Some popular online games have even earned a reputation for being mainstream entertainment and a social media alternative.
In the coming years, the advent of 5G data networks in India will drive this momentum even further, enhancing the gaming experience with technologies such as virtual reality (VR) and augmented reality (AR). With the gaming craze in full swing, avid gamers are now looking for a profitable entertainment experience. Because of this, another major factor that will continue to transform the industry is the availability of a variety of secure online payment options, which have enabled players to play both free-to-play and pay-to-earn formats .
The emerging gaming studios in India are not only limited to cash prizes but are also creating more opportunities in unconventional sectors such as; B. Technology-oriented careers in IT and game development. Lockdowns and social distancing during the global Covid-19 outbreak saw more and more people turn their passion for gaming into a full-time career.
While online gaming helps make money and provide entertainment, gamers have shown that it also helps develop life skills. A recent study also revealed that online gamers have acquired various skills such as critical thinking, creative thinking, decision-making, and problem-solving skills that are essential for one’s growth in life. Of the research participants, approximately 40% of men and 34% of women believe more than half of online gaming skills are useful for real-world experiences. Interestingly, gamers also showed that they had more positive attitudes toward their online gaming teammates compared to their real-world work relationships.
As the Indian gambling ecosystem develops at a rapid pace, this lucrative industry is expected to reach new heights in the future. To capitalize on the untold potential of the Indian gaming market, global investors have started acquiring and partnering with local companies to expand their geographic footprint. As investors continue to support the sector, local companies will expand their operations and establish a broader presence in the coming years.
As the industry promises to grow exponentially, a consistent and transparent regulatory framework will continue to empower it. A discussion between the primary stakeholders of the countries and the central government and the self-regulatory bodies of the online gambling industry can also help to create a consistent regulatory framework that benefits all stakeholders.
The presence of a government regulator that removes uncertainty will not only protect the interests of the online gambling industry but also improve its overall reputation.
In addition to government mandated regulatory policies and new technologies; Talented professionals from diverse backgrounds will be key to growing the gaming industry’s unprecedented popularity in both rural and urban parts of the country.
The author is CEO and founder of Witzeal Technologies
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