India's Mobile Gaming Market To Cross $400 Mn By 2022: Report
India’s mobile gaming market is set to top $400 million by 2022. This will be due to mounting adoption of freemium and virtual reality games, states a CII-TechSci Research report.
Freemium is a business model which provides basic services free of cost. But if one wants to use its advanced features, it has to be on payment. Revenues from mobile-based gaming stood at $265.8 million last year and is pegged at $286.2 million in 2017, highlights the report.
“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 fueled the growth of mobile gaming in India over the last few years,” it said.
Indian mobile gaming market has seen a boost due to the increasing number of mobile internet users and development of advanced games. Overall, the Indian gaming industry was valued at $543 million in 2016 and is expected to grow to $801 million by 2022. “In 2016, India accounted for a share of 0.55 per cent 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,” it said.
The country’s mobile gaming market in the coming five years is expected to boost up due to emphasis laid on Augmented Reality (AR) by the gaming companies. Console gaming captured the second largest share of 35.51 per cent in the country’s gaming market in 2016, followed by computer gaming (15.54 per cent share). “The procurement cost associated with console games is very high in the country, due to which the console gaming market in India has witnessed a sluggish growth over the past decade,” the report said.
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