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India’s online gaming market will be worth Rs 11,900 crore by 2023

Online gaming has become a huge part of youth and adult culture. But why is it so engaging? Learn more about online gaming, and common forms such as MMORPGs, LAN parties, and serious games.

Due to the rapid growth of digital infrastructure, the online gaming market will grow rapidly in the country. According to a report by KPMG, in the Indian market by the year 2023, there is estimated revenue of about Rs 11,900 crore from this region. The size of the online gaming industry was only about Rs 2,000 crore in FY14, which increased nearly two times to Rs 4,400 crore by FY2018. 

With an annual growth rate of 22% from the financial year 2018 to fiscal year 2023, it is estimated to reach Rs 11,900 crore. According to the report, in 2010, the number of game-makers and developers who developed the game was 2 million and 2.5 million, which has risen to 25 million in 2018. 

Increased market by cheap internet market

in the online gaming market in the country is important in the number of people playing through mobile phones. Mobile phone share in the online gaming market in the financial year 2017 was approximately 85 percent. With the smartphone being affordable, with the penetration of the Internet and accessibility of the Internet, with the reach of every part of the country, the mobile gaming market has grown quite rapidly. 

The number of people who play fantasy games

According to the report, puzzle, action and thriller game categories are the most popular in the country. There has been a seven-fold increase in the number of fantasy sports operators in the country. Their number was approximately 10 in 2016, which has reached 70 in 2018. There was a 25-fold increase in the number of players who liked this kind of game, which was just 2 million in 2016. By February 2019, the number has increased to 5 crore. 74 percent of the 336 consumers surveyed prefer to play fantasy games one to three times a week, most of them play once a week.

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