The gaming industry keeps breaking records every year. 2016 was the biggest year for games and gaming software, exceeding $3.5 billion in sales, which in turn was driven by record sales in both digital and online game sales, as well as mobile games. Many industry reports suggest that the global games market will touch more than $120 billion in 2018 with mobile gaming accounting for at least 42%.
India, one of the world’s fastest-growing economies, is soon becoming a hot destination for the International gaming industry. Rising income levels and growing internet penetration will all help push the Indian gaming industry to $801 million in sales by 2022, up from $543.08 million in 2016!
India hasn’t just matured as a market for games, but is also being seen as the provider of skill and talent required to develop modern day games. According to KPMG, India had 275 game development companies as opposed to a mere 25 back in 2010. By 2021, India is expected to have more than $628 million gamers and online gaming, as a segment, is estimated to be a $1.1 billion opportunity by 2021, according to Google-KPMG. In 2019 itself, India’s online gaming segment grew 40% to reach $650 million and is expected to grow 43% to touch an $1.87 billion by 2022. Whilst the total number of online gamers have nearly doubled from $183 million in 2017 to $365 million in 2019.
India has more than 365 million gamers in 2019 spread out across mobile, console, and PC platforms, and has therefore caught the attention of several high-profile International and Indian game developers. Since India has traditionally proven significant cost-competitiveness and skilled workforce for IT development, many game developers are also looking to tap into the highly lucrative market. This increased production of games will further offer brand new opportunities for game developers, tech teams, and publishers to start operations in India.
Some of the key reasons why India is considered as a valuable destination for international gaming includes –
- Presence of one of the world’s largest youth populations
- World’s second largest Internet user-base
- Popularity of multiple payment models
- Availability of skilled, creative, and abundant talent
- Huge skill-base across IT, QA, Design and Arts
- World-class infrastructure
- Major development centers such as Microsoft, Nvidia, UbiSoft, Electronic Arts, Disney, Sony, etc. have already entered the market.
When the French publisher Ubisoft, best known for its hit gaming franchises such as ‘Assassin’s Creed’ and ‘Far Cry’, decided to do the reboot of “Prince of Persia: The Sands of Time”, it chose its studios in Pune and Mumbai to oversee the development for a remake. This is the first time an international video game publisher of Ubisoft’s stature relied on the expertise of in-house studios in India to fully develop a AAA title even though a remake, from the ground up. Ubisoft has now got two game development studios in India. The company is also working with IIT Mumbai on game automation using artificial intelligence (AI) and machine learning (ML).
“What we want to showcase is that there is a greater control from India and it has always been our intention to show that we can build up together through strong competencies and expertise for game development,” Jean-Philippe Pieuchot, Ubisoft India Studios managing director, told indianexpress.com in an interview.
While the game Dauntless available on PS4, Xbox One and PC, the game got more than 10 million users on-board within weeks of its launch this May has been developed by San Francisco-based Phoenix labs and published by Epic Games, more than hundreds of assets including characters, creatures, costumes, vehicles and props used in the hit game were created by Lakshya Digital – an Indian firm that has been working with big game developers for nearly 15 years.
“Until a few years ago, game artists didn’t know what the quality expectations of the global audience were. Today, the artists are working on some of the best projects with more freedom and say in the development process. We are moving up the chain from just being the task developers to partners,” says Manvendra Shukul, chief executive officer and co-founder of Lakshya Digital.
We will have a CXO level discussion on this topic on our upcoming webinar “Talent and Market Access of India for Video Gaming companies” scheduled on Wednesday 30th September @16:30 London / 8:30 San Francisco / 21:00 Mumbai
Where we will cover topics covering –
- Why India?
For webinar registration you can follow the link: Webinar Registration
Our Webinars: https://buildmyteam.co/company/webinar
Source: Indian Express