The Indian gaming market, estimated at USD 338.4 million in revenue in 2017, is expected to grow threefold in four years, according to a Frost & Sullivan report.
The increase would be supported by internet diffusion, sustained local development, improved digital payment infrastructure and preference towards subscription model.
According to the report, the Indian gaming market is al set to increase to USD 1.1 billion in 2021, almost entirely driven by increase in mobile gaming revenue.
The global games market generated revenue of USD 104.8 billion in 2016, an increase of 12.6% from 2015.
The report forecasts the global revenue is likely to increase to USD 151.7 billion in 2021. The growth is expected to be driven from South-East Asia, Middle East and India.
“These regions have an advantage of optimistic economic outlook, favorable demographics and rising growth in smartphone penetration and internet,” the report said.
Experts believed that male audience via cricket mobile games will drive this growth. According to Manish Agarwal, CEO, Nazara Technologies, believes that as people become more comfortable in mobile internet, gaming will become the entertainment destination.
As per the Frost & Sullivan report, in the long-term there will be growth of freemium models unlike past’s heavy reliance on advertisement-based monetisation.