Investment banking platform, Maple Capital Advisors, in a recent press report, have stated that the Indian Online Gaming market is growing at a compound annual growth rate (CAGR) of 22% with a growth of 41% annually predicted!
This incredible growth is down to the rise in digital infrastructure, smartphone usage and of course the variety and quality of engaging gaming content.
The report also included the following points:
- The country’s online gaming industry has attracted an incredible $350 million in investments from venture capitalists or firms between 2014-2020.
- In 4 years time, by 2024, the gaming industry in India is set to be worth $3.75 billion!
- India is the second largest market worldwide for app downloads.
- Mobile gaming shares 85% of online gaming in India.
- Fantasy sports operators have increased 7 times the initial number from 2016-2018 and the total number of users has increased 25 times from June 2016 to February 2019.
- As of December 2019, there were over 400 gaming start-ups in India and more than half a billion smartphone users.
According to Maple Capital analysis, the coronavirus lockdown saw visits to online gaming sites and applications rise by 24% and engagement/playing time increase by 21% between February 16th-20th and March 16th-20th, 2020!
Platforms such as Games2Win, WinZo Games, Hitwicket, Gamerji and Rummy recorded a tremendous increase in daily users base as well as time spent. However, fantasy sports applications suffered a huge dip in revenue because of the postponement and closure of all live sporting activity.
This is a really promising time for the gaming industries around the world. It has also been reported that the gaming industry is now the biggest industry in the world, overtaking the music industry!
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