The mobile gaming market is exploding all over the world – and in India, it’s no exception. Revenue from mobile gaming in India is currently valued at a staggering 2.4 billion US dollars, an increase from 600 million US dollars back in 2017. This means that revenue has climbed by 1.8 billion dollars in just three years.
But why has this sector experienced such rapid growth in India? In this blog post, we’ll be exploring some of the biggest factors behind the rise of the mobile gaming market. From increased accessibility to better technology, these are the standout reasons why Indians are preferring to play games on the go.
1. Mobiles Are More Affordable
Whether we’re enjoying a quick spin on sites such as indiacasino.xyz or simply making a shopping list, it seems our mobile phones can cover almost every aspect of our lives. But it wasn’t that long ago that mobiles – and particularly smartphones – were products that few could afford.
Thankfully, this has changed. According to Statista, India now accounts for 12.5% of the global smartphone market. In 2019, the country was home to more than 800 million mobile phones users, and this figure is only expected to increase.
As competition between mobile phone manufacturers in India helps to keep the price of devices low, it’s never been easier to own a mobile. This means that the number of people who can access online mobile gaming is growing year-by-year.
2. India Has A Large Youth Population
There are more youths (people aged 24 and below) in India than there are anywhere else on the planet. People in this age group are consistently the most tech-savvy all over the world, so it makes sense that India’s strong youth population is largely driving the demand for more advanced mobile gaming in the country.
Youths are more likely than anyone else to own a smartphone. Studies suggest that by the year 2022, 36% of mobile users in India will specifically own a brand of smartphone – and every year, we’re seeing more and more smartphones being shipped to India in order to meet the growing demand.
3. Growing Industry Investment
The third key factor which is driving mobile gaming in India is the fact that the country is seeing unprecedented levels of industry investment. Between 2014 and the start of 2020, venture capitalists (VCs) pumped roughly $350 million into the Indian gaming industry, according to a report by Maple Capital Advisors.
The report claimed that the industry as a whole is currently valued at $930 million and could grow by as much as 41% every year.
Among this $350 million was an investment of $41 million from Sequoia and Time’s Internet. The VCs invested the funds in Mobile Premier League, an Indian mobile e-sports app, back in 2019 – showing that mobile offerings are very much on investors’ agendas.
As the sector becomes increasingly well-funded, the range of mobile games which are available will grow more and more impressive. This will enable developers to cater to a variety of different tastes, abilities, and devices.
With the mobile gaming sector continuing to grow (and showing no signs of slowing down any time soon), it’s clear that India will witness a range of exciting new technological developments in the coming years.