According to predictions, the year 2022 will witness yet another impressive growth to around 3 billion gamers. With that, the market size is going to be over $190 billion
With the sharp rise of digital gaming across the globe, amid the ongoing COVID-19 pandemic, fresher games have shown up in the business. Driven by a variety of genres, the Indian gaming sector is taking the lead and expanding its business.
According to predictions, the year 2022 will witness yet another impressive growth to around 3 billion gamers. With that, the market size is going to be over $190 billion.
“If we’ll see, coronavirus has contributed to this increase. People are spending more time at home and are looking for other ways to pass it. That’s why digital adventures have become a go-to place and a new hobby for many people,” said the Marketing Manager of OpenPlay Tech, Kishore Palakodeti.
The biggest segments in the gaming industry are mobile, console, and PC. They made 46 per cent, 31 per cent and 23 per cent of the gaming industry in 2020. These figures are expected to grow for mobile to 49 per cent in 2022, Palakodeti mentioned.
“In the last year, where many businesses and sectors were affected, these were interesting and exciting times for the gaming industry. People turned to online entertainment and gaming and the demand for good content increased. And we saw a hike in international game developers and publishers coming to India to work with Indian companies, this trend will continue in 2022,” said the CEO and Co-founder, Lakshya, Manvendra Shukul.
While talking about the 9 big trends in gaming, he said, “Mobile gaming will keep evolving rapidly, cloud technologies will revolutionize playing experience, HTML5 will offer new opportunities, XR Marvel will mix the realities, old classics will come back, esports will get more attention and more people will watch game streaming.”
India’s online gaming industry is currently at new heights after billionaire investor Rakesh Jhunjhunwala filed for an IPO in Nazara Technologies.
With the increase in the online gaming community, we will also see new genres of gaming to keep the engagement levels high and live streaming of games will continue to be popular as it was last year – it is the multiplayer levels that keep the gamers engaged. 2022 looks as promising as the last year was for the gaming sector, added Shukul.
“Research showed that India recorded about 365 million online gamers in 2020. The number of gamers is estimated to reach 510 million by the year 2022. India’s online gaming space is currently at $290 million, however research showed that India’s market is predicted to grow to $2.8 billion by the year 2023,” Palakodeti said.