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    Published On : Tue, Apr 27th, 2021
    Featured | By Nagpur Today Nagpur News

    The Unprecedented Growth of Online Gaming Industry by 2022

     

    As the acceptance of immersive technologies and digital services gain popularity in India, internet users are craving better experiences. In order to beat the competition in the e-gaming industry, operators are adopting cloud management, data centre markets, mobile business applications, and other associated exponential technologies.

    According to experts, with an impressive CAGR (compound annual growth rate) of 22%, the gaming sector has the potential to overtake the music industry by 2022. The annual growth rate predicted stays at 41%, and Deloitte predicts a market share of $2.8 billion by the same time.

    5G connectivity, Internet of Things, Artificial Intelligence, Virtual Reality, and Augmented Reality are a few reasons behind this digital transformation of enterprises and gaming operators.

    Suganthi, Project Manager, of Lucky Raja, said that technology became the most significant differentiator for businesses in deciding whether they succeed or close shop during this global pandemic time.

    From the predictions, here are the main points to take away:

    • The coronavirus lockdown in February and March 2020 has led to a tremendous increase in traffic to online gaming sites by 24%, while user engagement grew by 21%.
    • India’s online gaming industry has witnessed 400 gaming start-ups by the end of 2019, with almost $350 million in investments.
    • Over half a billion smartphones were sold by 2020, and mobile gaming amounted to 85% of all e-gaming in India.
    • While the country is now the second biggest market for mobile app downloads, users of fantasy sports sites have increased 25 times in the past four years.
    • With such incredible growth and better digital infrastructure, the Indian gaming industry will be $3.75 billion by 2024.

    Commenting about the same, Suganthi said, “Video gaming companies and best online casinos in India, no matter how confident, are now feeling the pressure to compete with others and perform better than they did the previous day. They are constantly looking for the next disruptive advantage to keep them apart from the rest. As these trends continue in 2021, there will be a widespread acceleration in adopting monetization strategies that are typical to other sectors and boost revenues.”

    Edge Computing and Technology Infrastructure in Online Gaming in India

    Cloud-based and streaming platforms make for the majority of cyber security investments to enhance gaming experiences and protect user data.

    A few ways in which game companies can match up to the growth predictions are:

    Technology in the Telecom Sector: The Open and Virtual RAN ecosystem is still evolving in India. It majorly focuses on secondary or small cell networks, delivering fourth-generation technology services to the underserved markets. Telcos can expand their footprints with the launch of 5G coverage even in rural markets. With the explosion of mobile data, public cloud, Big Data, and further growth of drivers like IoT, AI, and VR, India will surpass that of the global rate by 2027.

    Cloud Adoption in Gaming Platforms: Consumer healthcare infrastructure and platforms have seen a drastic change in telehealth’s acceleration. It narrows down the urban-rural divide and offers impeccable cybersecurity protections. Likewise, post COVID-19, government and public sectors, enterprises, start-ups, and Small and Medium Businesses (SMBs) (gaming operators included) will indulge in cloud-based services to provide the customers better security and privacy options.

    Organic and Inorganic Growth: Video game companies access new capabilities and amplify financial resources with external capital. Similarly, they look to unlock additional cash flows for growth by funding game development that support capital allocation decisions. For instance, in-game advertising, which is already in full swing, will take on a more analytical rigourto increase the return on investment (ROI). The usage of automation to streamline the processes can also cut down costs.

    Improving Trust in the Brand with BlockchainTechnology:Many gaming sites in India are yet to adopt cryptocurrency payments fully; however, much has to be said about blockchain technology itself. Pressing priorities like curbing in-game fraud, hacking, and other cyber-attacks can be addressed with this leading solution. It also drives trust towards the video game ecosystem as the operators secure gamers’ digital identities, protect their finances, and safeguard authenticity.

    Converge all Favourable Factors: Gaming is an entertainment and recreational option as well as an income source for many. Since the physical movement of people is currently restricted in India and elsewhere in the world, the virtual world offers some solace. At a time when even the television broadcasters or OTT platforms cannot curate fresh content, gaming and animation strike the right balance in this “new normal.”

    Leveraging key factors like decreasing pricing of smartphones, internet penetration, affordable data, and increasing disposable incomes can further the adoption of technology in the online gaming sector.

    Future Growth Prospects

    E-Sports arenas, video gaming sites, card game and slots operators, and more are the future of online gaming in India. Armed with talented designers, studio infrastructure, excellent content, visuals & graphics, companies can utilize the cross between strategic and financial opportunities like in-game microtransactions to bring in revenues.

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