The Indian Gaming Industry is growing at a very high pace. With the advancement of mobile technology and cheap internet services, the Indian gaming market is taking the path of bull and growing like a bamboo tree. India houses the youngest population in the world right now which is supported by great Telecom Infrastructure. All these conditions are perfect to form a thriving gaming industry within this country. Be it mobile games, Console gaming or the almighty PC gaming, India is rising fast to take its prominent place in the market.
· What is the game industry?
In the last 10 years, the Gaming outsourcing market flourished in India because foreign companies offer games development services to the country. The concepts of the game are changing with new concepts. These game developers reach the background quickly to be players. Due to this outsourcing work, our developers were able to get great hands-on experience with game development. There are three main ways to earn money by game development. Purchase of applications, advertising and extension of brand to IP. Purchase of Application or game purchasing is the most common or direct way to earn money by selling game directly to customers. The majority of game development companies follow this step to earning money.
The second option is advertising, which is a huge market, especially in the Asian market. In this method, the game is free to play. The developers will host third-party ads on their games so that they can earn money. In this method, the developers intended to create a huge player base. Then companies will pay them money to show their ads to this huge player base. It’s a very famous way to deploy in Asian countries where people don’t spend that much on paid games. This method is majorly used in mobile games.
The third one is the extension of IP for profit-making. In this way, a company will let other companies use their technology or characters or story arc for making a new game. By doing that, companies will charge royalty from other company and thus making money.
The Game industry is travelling a long way from its 70s and 80s video arcade video games. Today I will talk about ESPORTs markets and social games. MMOG (Massive multiplayer online games) and single-player mobile games. All technological innovation and progress contribute to the improvement of the experience of the game. The gaming industry is an industry that includes the development, marketing and distribution of games. Here millions of people work from all around the world.
Due to the importance of culture, the advances in entertainment and technology, it is considered one of the most exciting industries of technology. Perhaps the most interesting change in the videogame industry is a statistic of the population of the player's expansion. More people play games and create more immersive entertainment demand and look for an easier way to access the game, and the future of the videogame industry looks bright. In recent years, it has become more popular. The reason most people finding attractively online games is because their access is easy. These games can be played on a console or phone. These games are also easy to understand, so they will make your experience more fun.
· How does the game industry work?
Studios this time creates and digitally publishes their own game. Studios have limited budgets compared to publishers and are responsible for selling your online game and selling. Game industry and the entertainment industry divided between mainly three parts i.e. Game development Companies, Game Publishing companies and Game hardware manufacturer companies.
Game developers as the name specifies develops the game by using game engines which are either self-developed game engines or third party game engines. Big development companies use their game engine to save money and to secure their IP.
Whereas small development studios use third party gaming engines like Unreal, Unity or Crisis engine.
Game publishers are big publishing house which funds these game development companies to make games for them. These companies then do their marketing and distribution work. Companies like EA and Ubisoft are game Publishers.
Game hardware manufacturing companies are responsible to create gaming hardware like consoles and PC which will enable people to play games on it. Companies like Sony and Microsoft create gaming consoles like Play Station and XBOX series. Companies like DELL and HP creates gaming laptop series like ALIENWARE and OMEN.
· How much value is it?
The gaming industry is way bigger than the combined market of Movies and music together. According to Accenture, the gaming industry crossed the $300 billion market in 2021 easily. It is way more than any entertainment industry.
Nearly 2.7 Billion people play games globally. The numbers are astonishing. 400 Million more players will join this thriving industry by 2023. Average players spend 16 hours a week playing games. Not only playing but the game streaming industry is also growing like crazy. With the introduction of cheap internet services and online game streaming platforms, game streaming services are growing rapidly.
· Future possibilities of the Indian gaming industry.
Indian game development is on the rise. New companies and start-ups are coming with new games each month in the gaming market. Companies like GameEon, Eclipse Play, Nodding Head games are coming up with their games like Mumbai Gullies, Razi: An ancient epic and MAKTH: Prologue are some upcoming and new entrant in the gaming market.
With the entry of game-based VC fund Lumikai, the chance of getting funded is pretty high right now in the Indian gaming space. Lumikai is going to invest in early age gaming start-ups which are working in India.
So we can say that the Indian game market will expand greatly in this decade for sure.
In Indian- Indian Game Industry, the increasingly advanced technology adoption, income level and game preferences among the Consumers changes, the increase of mobile demand games and the growing individual getaway. plus people create games, create more immersive entertainment demand, and look for an easier way to access the game. The future of the videogame industry looks bright. In recent years, online game has become more popular. The new game community game in India, in recent years, has reached more Indian audience to make their brands in the game industry Indian has been developed and announced by a small game study. Therefore, companies can be purchased and divided into the game, and users are reasonable for an affordable price, can benefit from the Vast portfolio of the game.