Revenues Of Online Gaming Industry Rise During COVID-19

Revenues-Of-Online-Gaming-Industry-Rise-During-COVID-19

In the past few years, India has seen a huge shift in the domain of Online Gaming, which was considered a taboo once has now become mainstream and is amongst the most booming industries of the Indian economy and much of it is coming from the Online Casinos. There are a lot of options where a person can play online casino games, however, with the plethora of options come a lot of confusion as to where one should invest their time and money, right?

Do not worry, amongst the hundreds or even thousands of options out there, you also have a handful of online Indian casinos where you can maximise your gameplay experience as well as on your investment as they offer services including chat support, sign up bonus, frequent tournaments and much more.

Did you know that as per a report published by KPMG in India and Google in the year 2017, the Indian gaming industry stood at USD 290 million in the year 2016 and the report claimed that by the year 2021 it would surge to USD 1 billion. The average Indian gamer is a male who is under the age of 24 years, the total number on online gamers in India in the year 2016 stood at 120 million or 12 crore and the report suggested the number would go as high as 310 million or 31 crore in the year 2021.

The COVID-19 situation for the online gaming industry in India has come as a blessing in disguise given the fact that the user base and the revenues of the companies have skyrocketed. In July, PUBG Battlegrounds Mobile, the famous online game in the format of Battle Royale reported having reached $ 3 billion in lifetime revenue with $ 1.3 billion coming from 2020 alone.

According to an article published in Forbes on May 2020, the overall spending by gamers in video games shot up by 73% compared to 2019 to $1.5 billion, and brands including Xbox One, Nintendo Switch, and PS4 all witnessing an increase in dollar sales by over 160% from April 2019.

India has always been considered a country with huge potential in the IT especially when it comes to the growth in the user base of smartphones, young population and data penetration. However, given the outbreak of the novel Coronavirus, this growth has been boosted multifold as people have more time in hand and much less to do owing to the lockdown phase.

The amount of time people used to spend in just travelling in big cities including Mumbai, Delhi NCR, Kolkata, Bengaluru has been freed up and people are using the time with leisure which has gone into gaming as people find it one of the best way to pass time.

Also Read: 15 Best Games To Earn Real Money

Additionally, as the unemployment rate surged in the country due to the economic recession caused by COVID-19, those people, too, have turned towards online gaming platforms in India knowing there are not many job opportunities in the market as of now.

Additionally, the technology in India has improved significantly over the years, with the lightning fast internet connection and high performing gadgets, people do not have to have bulky gadgets with LAN cable for online gaming in the country.

The novel Coronavirus has just helped the online gaming industry in India to grow at a faster rate than it was anticipated, and the thing is even after the COVID-19 situation the online gaming industry in India will continue to rise because of the user base they have attained during this time.

The question remains at large that what will happen when normalcy will come back and people will get back in their routine life where they work and travel all day. We believe that it will not be a huge problem because the key problem for any business is to increase the userbase and that has been done during the COVID-19 phase.

As people have more time in their hands, they have tested more games than they would have in an entire year because of time commitments, travelling, and fatigue, but now they have grown loyalty to these games and one thing which everybody in every industry know is that the loyal customers are the hardest to steal by a competitor.

Top executives from the online gaming industry in India think that once normalcy comes back in the lives of the Indian population, they can retain at least 40% to 50% of the increased users and one such person who shares this view is the Co-Founder and Managing Director (MD) of NODWIN, Akshat Rathee.

Additionally, the Chief Executive Officer (CEO) and Co-Founder of 9Stacks, Sudhir Kamath, the online poker playing platform, said in a webinar that the company saw a 100% increase in the new users during the lockdown phase of COVID-19 along with a growth of 40% to 50% in time spent from the existing users of the platform. Kamath, too, believes that many of the new users will continue to invest their time and money even after the lockdown ends.

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Aishwarya Chopra

A news content writer with a bachelor’s degree in Mass Communications and has over 4 years of experience. Aishwarya is fluent in multiple languages and covers different domains of news for XploringIndia.in. In the past, she has worked as a freelancer and curated multiple articles for various websites.

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