India’s gaming industry to hit revenues of Rs 118.8 billion by 2023: Industry insider
Amid crumbling fortunes and economic distress due to the coronavirus, the lockdown that forced people to stay in the home has already established a positive influence on one industry: Gaming. With an increase of time on people’s hands, they took to gaming to keep themselves engaged, entertained and, regardless if unreal and transient, gain a sense of accomplishment.
“We have witnessed a rise of 22% inside our niche esports global platform from February to April in the Asia Pacific region alone, signifying the phenomenal growth of the sector,” says Anton Rublievskyi, CEO of Parimatch, a worldwide gaming, entertainment and betting company.
With Counter Strike, Dota 2 and League of Legends being among the most popular games offered on the platform, Parimatch, which includes grown at the rate of 12 per cent in the last 1 . 5 years, says 96 per cent of new users are on mobile devices.
The way things have already been going, he says the gaming industry in India is likely to garner revenues of Rs 118.8 billion by 2023.
The quantity of new users from the Asia Pacific region from March and April has been double the number of new users registered between December and March. Currently, Asia Pacific comprises 31 % of Parimatch users, and the spot is dominated by 25 year old users, Parimatch data shows.
The young population of India, along with increasing mobile internet penetration, makes the united states a prime location for a gaming growth explosion.
To fully capture more users and to stay ahead, gaming companies are competing with one another to lead innovation by offering immersive gaming through augmented reality and virtual reality, together with attractive to regional tastes with relevant local themes.
“We are paying close focus on India among the quickest growing markets for entertainment technologies as we assume that consumer behavior and technological trends that happen here can be handy for further development of gaming solutions worldwide,” Rublievskyi said.
