Gaming has become 2x the size of film & music combined, say experts
The burgeoning gaming industry in India is creating an all new ecosystem with various industry reports that show the tremendous growth potential of this industry. According to industry reports, the global gaming market is pegged to growth at 9.5% CAGR by 2025, taking the valuation to $204.6 billion.
To all those parents who have been scolding their kids for “wasting” their time playing mobile games/ video games/ online games – gaming can actually be a very lucrative career choice for the youth in an already shrinking job market. What kind of avenues does gaming as a career choice open up? How will it grow the gaming landscape? How marketers and publishers plan to tap into this growing opportunity?
To understand this sunrise industry further, Adgully’s premier #TwitterChat #GullyChat property on Friday, July 30, turned the spotlight on ‘Gaming: A new career opportunity for the youth?’. The discussion was joined by a panel of gaming experts comprising:
Ankur Mittal, Co-founder, IPV
Juhi Hajela, VP - Global Marketing, Bluestacks
Kiran Noojibail, Co-founder & Head of ESports, Newgen Gaming
Piyush Kumar, Founder & CEO, Rooter
Varun Mahna, Founder & CEO, Dangal Games
How increasing popularity is driving growth
Highlighting the increasing trend of gaming amongst the youth, Kiran Noojibail said, “Gaming has been gaining popularity for some time in India. The recent lockdown has only provided a boost to this already burgeoning industry. This further solidifies the industry’s position and provides new opportunities to multiple factions.”
“The entertainment and social quotient going increasingly digital, gaming provides a mix of both. The availability of affordable smartphones and data is also a major driver in terms of the youth-connect for gaming,” he further added.
According to Juhi Hajela, “Gaming is 2X the size of film & music combined! Mobile gaming is thriving – more people play mobile games than play PC & console games together. The next killer app is mobile games in browsers. It is instant play – no need to download or install heavy games.”
Ankur Mittal noted, “Games are both a source of entertainment and ignite a competitive spirit among the players. Gaming itself has become more engaging, inviting users of all ages to participate. During Pandemic, the average time spent on online gaming has increased by more than 20%.”
Adding to this, he said, “Mobile gaming has outpaced PC gaming. Large mobile-first population that now has access to better phones has contributed to increasing popularity of gaming in India. Real money gaming companies have raised serious amounts from marquee investors and are using it to drive adoption.”
Expressing his thoughts on the growing engagement of gaming industry, Varun Mahna observed, “Gaming is a form of active entertainment when compared to consuming content/ social media. By the very nature of its engagement, gaming is fast gaining immense popularity among the Indian youth. Cheap Data, Smartphone penetration & Digital payments are the big drivers.”
Piyush Kumar noted, “Gaming is the new form of Entertainment for youth. It brings in the desire for being competitive & getting entertained. Also, it is very collaborative. Key drivers are access to quality games on mobile, smartphone penetration and unlimited data accessibility.”