India is a country going through a digital transformation. The country has been seeing a lot of improvements in the number of internet users in the last few years. There are people who are using WhatsApp and applications which are really famous in lesser-known cities. There are applications targeting such audience. That is because the Internet is cheap and are smartphones cheaper. However, another such market which has seen an uncanny surge is the gaming market.
The online games in India have just skyrocketed through the roof. There are people playing all kinds of games and it is not just that, it is something more. There are games which are literally making people addictive towards the phone and the internet. People are addicted to the games and it has generated a surge in the revenue of this unusual industry. No one really thought that the gaming industry, specifically the online gaming industry would have an interest in India.
However, it is turning out to be one of the biggest markets and not only the biggest but also one of the fastest growing markets. The numbers are just fascinating to look at, the growth is astounding and the current scenario is mind-blowing. There are not many markets that grow with 22% CAGR. The online gaming industry is one of them.
In the Financial Year 2014, smartphones were pretty common in India but they were not a commodity. The market for online gaming then was written down as INR 2,000 crore. The market grew two-fold in the next four years to reach INR 4,400 crore in FY18. The same market is now going to reach INR 11,900 crores by the time we hit Financial Year 2023. The growth rate; 22% CAGR. The numbers and the prediction were provided by KPMG.
The report also talks about companies developing games and gamers. The number of gamers and game developing companies has seen a rise to 250 million in 2018 from 20 million gamers and 25 million gaming companies in 2010. Such is the rise of this industry.
The majority of revenues generated in this industry is through mobile gaming. The mobile phones users have gone up and so has the gamers. There are more gamers in India than ever before. People are hooked up on games like Player Unknown BattleGround and PokemonGo. There are certain categories, however, which do very well as compared to others.
The puzzle is the category that is extremely loved in India. Indians loving the puzzle game is not a surprise. The action is the second most exploited category. Games like PUBG come under the genre action. There are other games like Sniper Elite which do well also. The third category which is quite exploited is Adventure.
Fantasy sports is also something which has grown like fire. The country has seen seven-fold growth in the Fantasy sports operators around the country. There were 10 in 2016 and have touched 70 in 2018. There were around 2 million players in 2016 but that number has grown 25 times and has reached 50 million in February of 2019. This is how much India is loving online gaming.