India’s mobile gaming business sector is ready to reach $400 million by 2022, driven by developing adoption of freemium and virtual reality games in the coming years.
Freemium is a model where basic services are made available without any charge but one needs to pay for utilizing the more advanced features.
As indicated by the CII-TechSci Research report, revenue from mobile based gaming remained at $265.8 million a year ago and is projected to touch $286.2 million in 2017.
“Gaming industry in India has witnessed a shift from console gaming to mobile gaming, with growth and improvement of wireless connectivity in the country. Ease of playing mobile games coupled with rising mobile phone subscribers has fuelled growth of mobile gaming in India over the last few years,” it said.
The report also added that the growth of mobile internet users along with advancements in gaming technology has also contributed to the boost in mobile gaming market in India.
“In 2016, India accounted for a share of 0.55% of the global gaming industry and this is anticipated to grow significantly over the next five years, on account of macroeconomic factors such as improving demographics, rising disposable income, changing gaming preferences of the consumers, etc,”
Also with an increasing focus of gaming companies towards Virtual Reality (VR) and Augmented Reality (AR) related games a boost in India’s gaming market in expected in the coming five years
As the gaming industry is changing and growing rapidly it has opened doors for new opportunities for developers and publishers.
Checkout Latest IT news at itvoir.com
Madhurima Goyal, From ITvoir News Desk