8 November 2019- Online gaming is a very popular activity in India that is constantly becoming the favorite hobby of the increasing number of people. And, it has been proved by the recently updated report which said that online gaming industry in India is continuously on the rise with revenue growing at the compound annual growth rate of 22% from FY18 – FY23. This sector is noticing the increased pull due to the higher growth of digital infrastructure. For example, fantasy sports and real money games are emerging as the most imperative aspect of this field.
Growth Of Indian Digital Gaming Industry
Digital Gaming in India is growing drastically with leading players of the industry making huge investments in it. This fastest growing industry is turning into a billion dollar market that is worth more than $890 million. The demand curve of online games is continuously showing an upward, thereby resulting in the emergence of over 250 game development companies. Approximately, minimum of 2 gaming startup companies are making a debut every month. This rising popularity is due to the convenience of playing a favorite online game from the home comfort and privacy by simply tapping at the screen of small devices.
Contribution Of Fantasy Sports In Indian Online Gaming Growth
Considering the interest of a huge number of people for fantasy sports, so many operators are making a presence in the market with their special offerings. Eventually, the counting of people registering on fantasy sports platforms is estimated to reach higher than 100 million by the end of the year 2020.
Motivating Factors For Fantasy Sports Respondents
It has been found that people are showing increased engagement with their most preferred sports due to the immense “opportunity to win money”. It was considered as the 5th most influential factor that draws higher user engagement for approximately 30% of the respondents. Fun and excitement are other primary factors that encourage about 72% of people to play fantasy sports. Around 81% of respondents claim that it requires skills and deep & updated knowledge to play fantasy sports. However, 69% find no overlapping between sports betting and fantasy sports.
70-75% of the spends on fantasy sports portals are re-investments derived from last winnings, promotional offers, or cash bonuses offered by operators to their respective customers. While the remaining 25-30% of the spends are obtained straight from the pocket of users. About 70% of people from smaller cities play fantasy sports over 4 times weekly. On the other hand, 85% of users from the top cities play these sports about 1-3 times per week.
According to the estimates, the mobile game market of India will generate $1.1 billion in revenue by the end of 2020. The number of online gamers will reach up to 628 million by 2020. The increase in the counting of smartphone users is creating a stable market for the highly entertaining mobile gaming industry. This is due to the fact that users are continuously on the lookout for the innovative source of entertainment.