Sunil YadavDec 21, 2022 10:02:58 IST
This article is part of a larger series on Indian online games.dealt with in the previous article The dark side of online gaming in India and how these games can ruin families and lives if they are not regulatedClick the link to read the article.
The 30 years of the 21st century have been marked by a big bang moment in the Indian gaming industry. The coronavirus has ravaged the economy and forced us to stay indoors for long periods of time.
This has snowballed segment expansion and put the previously niche community on a growth trajectory. This certainly won’t lose momentum over the next five years. India eventually recognized online gaming as a legitimate form of entertainment and welcomed a purely gaming-centric culture. As developers release new games with great experiences and more immersive gameplay, we are seeing a market expected to be more than double his size at Rs. 136 billion rupees in 2021 290 billion in 2025. No wonder the number of online players is expected to grow at this rate each year.
There are many reasons why online gaming is one of the largest and most profitable industries in the world today. The surge in digitization, fueled by the expansion of digital infrastructure, is appealing to a staunch, young audience with high disposable income and access to cheap smartphones and internet data. Encouraged, game developers are expanding the category. Looking to the future of the industry, here are some of the other developments that are driving the growth of online gaming and are poised to enter the mainstream soon.
Rise of cloud gaming
The emergence of improved cross-platform gameplay and the growing popularity of cloud gaming are two factors expected to boost the market expansion. Social media is the next big destination for cloud-based gaming. A significant portion of the world’s population enjoys gaming on social networking sites such as Instagram, Facebook and Reddit. In addition, it provides acceleration, enhanced user insights, and scalability, making it easier to rebuild content across multiple smart devices and improve content delivery across all media.
Wide acceptance of casual games and local Indian games
Game localization, the involvement of foreign creators, and respect for local dialects in game development all contribute to the organic growth of the game business. Who in their dreams could have imagined playing Koko online? But it’s happening today. A growing number of ‘mid-core’ players are less likely to spend as much time, effort, and money on games than ‘hardcore gamers’. Compete and dominate the Indian market.
Early access to games
An important factor that helps test the waters, especially from a game creator’s perspective, is the early access game release. Open beta testing is now possible, allowing creators to get insightful input from early access users before the game’s official release. This saves studios time and money by not having to fix critical imperfections after release. An avid gamer reflects the embarrassment the game development brand faced from his target audience in 2020 when a highly anticipated game featuring a fictional avatar of a Hollywood superstar fell flat with apparent gameplay glitches. You will remember it instantly. It is always wise to avoid such scenarios. Therefore, an early access release is required. It also fosters a sense of ownership and helps turn one-time purchases into loyal, regular customers.
5G booster shot
Cloud gaming companies are expected to take advantage of mobile accessibility and fast 5G connectivity by rolling out 5G services in many countries to deliver AAA quality games to smartphone users. Additionally, 5G’s increased bandwidth and reduced latency will allow gamers to stream their XR games smoothly. The increasing number of cloud games by mobile network operators and game producers will also fuel the growth of the global market.
Evolution of technology
While other industries cling to understanding Web 3.0 and the Metaverse, the gaming industry is far ahead with technology using high-definition displays, cutting-edge graphics, facial recognition, voice recognition, or gesture control. is. Overall, Augmented Reality (AR) and Virtual Reality (VR) go far beyond to create engaging experiences in both real and virtual environments. Many cryptocurrency investors have assets of their own, so gamers can predict the earnings prospects of his NFTs as well. NFT games can use this opportunity to help generate new revenue streams.
Comprehensive Diverse Sectors
The gaming industry embraces all aspects of society regardless of gender, location or skill set. Games are gradually beginning to represent this increased diversity by adding female elements, with women making up about half of the gaming business. By 2028, the enthusiast gaming market, made up of members of the thriving gaming community who rely on YouTube for news and reviews, is expected to grow to over $17.693 billion. Among the countries making the biggest contributions to the global gaming sector are Japan, China and India. The gaming industry in these countries is driven by rapid advances in technology and a number of important gaming businesses that have long been home brands, such as Konami, Sony and Nintendo.
However, the industry also faces certain challenges.
Survival of regulation
The advent of Internet games has left their operators in a nightmare of following vastly different national rules. Certain games may be legal in one state and illegal in another. Therefore, it is necessary to renew the legal system of the entire game industry, especially online games.
Building trust through transparency
An honest and transparent business model should be the cornerstone of any intangible product or service industry such as games. Developers should consistently prioritize human connections. Through authentic communication, brands can direct users to the right solutions and treat them with the utmost respect and care. If you can do that, you don’t have to go the extra mile to acquire users who already trust you. Users may voluntarily spread goodwill about the brand.
Promoting Responsible Gaming
Any company is directly responsible for their actions and has a responsibility to ensure that everyone understands and follows the rules of responsible gaming. All gaming platforms, including us, ensure that their software products are integrated into a comprehensive management system that provides a safe and ethical gaming environment that protects against cyber fraud and any form of invasion of user privacy. need to do it.
If you were to visualize an Indian online game as one of several cars on a racetrack, you would be hitting the accelerator with the nitro booster on. Approximately $2.9 billion was raised to support 76 online gaming companies between 2014 and 2022 (Q1). Online gaming funding hits record $1.7 billion in 2021!He’s $383 million more than in 2020. He expects investors to become more interested in his iGaming industry in the near future. Friends are encouraging relatives to join, and the online game’s user base eventually develops into a self-sustaining ecosystem.
The author is CEO of PlayerzPot, one of India’s leading online gaming platforms, including games like Online Rummy and Online Fantasy League.
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