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The volume and nature of the esports and gaming market have completely changed since its inception. A steady advancement in technology in the industry has resulted in more gamers than ever before, spread across various devices.
Due to the nature of its economy, India is regarded as a dark horse in the sector. While the world's largest democracy is not subject to exploitative gaming censorship, it remains an expensive hobby for many citizens. Several big names, such as Steam and Epic, have implemented mechanisms such as regional pricing to benefit the massive population.
The introduction of mobile games has resulted in an increase in popularity and numbers. With most titles available for free and significantly lower prices on mobile devices, gaming in the country is evolving. According to a recent Niko Partners study, the esports and gaming market in India has enormous potential. While the data is heavily skewed toward mobile devices, India has the potential to become the next big thing in the sector in terms of revenue.
India's untapped potential in the esports and gaming market could make it an exciting place for developers and publishers
The emphasis on the future is an exciting aspect of Niko Partners' study. The study uses numbers from 2022 to project what might happen by 2026. While no one can predict the future with certainty, Niko Partners is a well-known name in finance and analytics.
Because of its large population, India could be very profitable in the esports and gaming markets. In terms of player base, the country is second only to China. While the country's large population helps, it's important to remember the technological challenges that still surround large parts of the country.
As previously stated, the statistics favor mobile gaming, but this could change. The low cost of mobile gaming contributes significantly to its popularity. Mobile gaming devices are far less expensive than PC and console gaming systems. A high-end mobile device will cost the same as a basic PC configuration capable of running Apex Legends.
Furthermore, game prices are a consideration, but the situation is changing. Titles such as PUBG have recently gone free-to-play, and many games, such as Halo Infinite, keep the multiplayer aspect available to all players. A reduction in hardware acquisition costs can do wonders for the country's sector.
According to Niko Partners' projections, the overall base of gamers will grow by 2026. The expansion will most likely attract a larger number of PC and console gamers. Facilities such as Xbox Game Pass have been game changers, and such services may increase the non-mobile sector's dominance even further.
It all comes down to revenue, and India is on track to exceed $700 million by 2022. According to projections, it will more than double by 2026, and 34% of mobile gamers spend real-world money. This is an exciting figure that demonstrates that the country's gamers are not afraid to spend money on microtransactions and in-app purchases.
When compared to the US and China, India's esports and gaming markets are still in their infancy. However, according to the study, India is the fastest-growing market in Asia-10. As the Western world becomes increasingly saturated, India may prove to be an unlikely saviour for many stakeholders in the esports and gaming industries.
