Online gaming industry grew by 38% annually in the country
Online gaming industry grew by 38% annually in the country: 10% in America, and 8% growth in China, India has the highest number of online gamers after China
The growth of the domestic online gaming industry has been the fastest in recent years. According to Boston Consulting Group and venture capital firm Sequoia, the online gaming industry in India is currently growing at 38% annually. This growth will increase further after the introduction of 5G telecom services. In comparison, this industry is growing at a rate of only 10% in America and 8% in China.
According to KPMG, there are more than 400 gaming companies in the country and there are about 42 crore online gamers. Their number is greater than this only in China. Thanks to this, India has been included in the top five mobile gaming markets in the world. KPMG has also estimated that by the end of the financial year 2023-24, the income of the Indian gaming industry will exceed Rs 29,400 crore, from Rs 14,311 crore in 2020-21.
Companies like Google and Microsoft are already working on cloud gaming projects. Google tested Stadia Cloud Gaming on 4G and 5G networks in 2020. Microsoft has also joined hands with Korean company SK Telecom.
Adarsh Nair, the CEO, of Bharti Airtel Digital, said that gaming will be the focus area of our business strategy. Since 5G technology will provide high speed with low latency, 5G will be used the most for cloud gaming.
By the end of this year, 5G services are going to start in the country. Earlier, French cloud gaming firm Blacknut is in talks with Reliance Jio and Airtel to launch a cloud gaming service with a 5G network in India.
