Gaming industry in India is all set to grow with modern technologies like artificial intelligence bound to revolutionge the gaming experiene. The cite a study conducted by KPMG, the number of game development companies today stands at around 275. This number was a mere 25 in the year 2010. This number alone speaks volumes about the growth and possibilities of the gaming industry in India.
In early 90s that India was exposed for the first time to gaming.handheld gaming consoles become a craze but that apart the trend did not pick up the pace one would have anticipated the online gaming industry is expected to grow at a compound annual growth rate CAGR of 40% to dollar 2.8 billion by 2022 up from dollar 1.1 billion in 2019 according to Deloitte India report release on Tuesday. largely driven by smartphones affordable data and increasing disposable income the rapid growth is expected to strengthen the sector share of total media and entertainment industry by 4 to 5 percent.
the findings of the study highlighted that covid-19 has pushed the growth for the as users latched onto to online gaming platforms in absence of entertainment options during lockdown the time spent on gaming apps increased by 21% during the initial National lockdown with the total customer base crossing 300 million users.
India is one of the top five mobile gaming markets in the world with our 13% share of global gamesessions and is expected to add 40 million online games during 2020-2024.