According to Sandeep Wagle of powermywealth.com, one may hold Lupin.
The gaming industry in India is booming, all set to cross the $1.1 billion mark by the end of 2020. What we can interestingly see, as well, is the rise in smartphone users in the country that is expected to cross 530 million by the end of this year. Today, the gaming industry is amongst the fastest growing entertainment industry with over 10% growth while the other sources like television has gone down by eight percent.
It is not just the global giants who are reaping benefits of this magic combination but a range of upcoming startups as well.
How the Play Zone has Changed
Gaming came into the Indian scenario in the 1990s. However, the accessibility to play games was a challenge. From installation to accessing them on the desktops, there seem to be too many limitations and less of opportunities to enjoy a game. But the smartphone usage has changed this completely. Online games can now be easily downloaded and enjoyed on devices.
The other factor that contributed to the acceptance of games on almost every smartphone is the affordable data packs with the coming of Jio. With smooth WiFi, easy and unlimited data packs, our screens have now become our virtual gaming space.
The New Game Formats
The attraction towards multiple gaming formats also share a strong contribution to the rise of games in India. Adding to this craze is the mobile-friendly version or mobile games, which give the player an opportunity to play anywhere and anytime. What adds thrill to the entire package is the real money games that are now easily available to the Indian player.
Popular Indian games like rummy, fantasy games and other card games are now accessible digitally right on the phone. These games are legal and when someone wins, they get real money. This direct cash movement motivates players to try these games and play them at just about any time. The games are real time with real people and does not limit the player in any way. There are today many online platforms offering cash games like rummy. Among the top are RummyCircle with its 10 million player base. Growing 100% year on year, RummyCircle has kept the players engaged and given them cash rewards, that keep them coming back. For the financial year 2018, the revenue coming from online card gaming companies was over 1225.63 crore.
We see new game formats coming out just about every day and the form of spending leisure time is now moving away from television to these new games.
The online gaming industry is coming up with innovative formats every day. They are transforming the entire entertainment sector, which is now shifting from TV sets to mobile handsets. The new gaming formats hold immense potential for game developers and graphic designers as they are using cutting-edge technology to accelerate the industry’s growth this year.
Opening the Doors Wide
We have heard it many times now how the Indian online gaming industry is a billion dollar industry now. It got attention from investors and companies that have scaled up and got multiple rounds of funding. According to the report by McKinsey and Co. on India’s Trillion Dollar Digital Opportunity, the country has crossed over 7.7 billion app downloads. Games are now on apps and downloading them through the Play Store or Apple Store gets a player started. Players can easily get started with a game and can also easily skip to the next one. So, the user experience holds the key to keep the player captivated. The players are not hesitant to spend money for quality products in the entertainment segment, whether it is television or games. With in app purchases and new games, players today have a gaming or entertainment budget just like the other segments of life.
Who is the Player?
When we talk about the complete mobile experience it is not complete without games. So, what makes a player download games and invest cash in it as well. It depends on the social quotient. Consumers learn about games from friends and family and think about giving it a shot. Exploring games on the mobile is just about a few taps and consumers don’t hesitate to try it out. As per a recent Google report, there are over 27% players who select mobile games after giving it some thought. There is another 16% who stop spending money on games when their friends move to some other game. Further, there are the playful explorers who simply connects with other players within the mobile game to get more items or prizes.
Considering the different gaming needs of the player, the games today need to satisfy the different player needs and provide unique experiences. Whether it is cash games like Indian rummy or fun games like Candy Crush or the nation’s craze PUBG, it is what the player takes home as an overall experience that counts. Even though the reward system for each game type is different, the challenge, thrill and fun quotient makes a player download and give the game the space in its over crowded app world.Disclaimer: This article is an initiative of RummyCircle and is intended to create awareness among readersGet access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.