From video games to virtual reality, how we play games is evolving with the times like never before. All credit goes to the advancement of technology and Covid-19 which have affected the expansion of the gaming sector. In recent years, India has emerged as a powerhouse in the global gaming arena, offering a diverse range of games that cater to all ages and interests.
In this blog, we will explore the key factors contributing to the incredible growth of India's gaming sector, the driving forces behind its success, and the future prospects that promise to take this industry to new heights.
What is Online Gaming?
The term “Online gaming” refers to virtual games that can only be played with an internet connection. In just a few decades, the popularity of online gaming has increased significantly, especially among the youth who have begun to view the industry not just as a source of entertainment but also as a potential career path or source of employment.
It is currently considered as one of the fastest-growing industries in the world and supports a number of other sectors, including IT and animation. One reason is that online games offer a way for people to connect with friends and family who live far away. India is the largest fantasy sports market in the world, with more than 13 crore players spread across more than 200 sites.
How big is India's gaming industry?
India's online gaming business has experienced an exceptional rise in recent years, moving it into the top five global markets for mobile gaming. The next emerging industry is online gaming, which is growing at 38% growth rate. According to a KPMG report, India currently has more than 400 gaming companies and 420 million online gamers, which makes India second after China.
Based on Gaming PC export-import data, the market size was estimated to be around US$ 2.6 billion, and it is predicted to reach US$ 8.6 billion by 2027. This growth is being driven by a number of factors, including the increasing popularity of mobile gaming, the growing availability of high-speed internet, and the rising incomes of Indian consumers. The domestic gaming industry will create 10,000–12,000 direct and indirect jobs by 2023. Despite its difficulties, the Indian gaming sector is expected to reach $5 billion by 2025.
Interesting Facts to know ”The global online gaming market is expected to reach $163.0 billion by 2032”
Export and Import Data for Gaming Industry: 2022-23
The Indian gaming industry's export value grew by 20% in 2022-23 as per Gaming PC trade data. Let’s explore the gaming export and import data below:
Exports:
- Total export value: USD 1.2 billion
- Top export destinations: USA, Canada, UK, UAE, and Singapore
- Top export products: Mobile games, online games, e-sports
Imports:
- Total import value: USD 0.8 billion
- Top import origins: China, USA, Japan, South Korea, and Singapore
- Top import products: Game engines, game development software, gaming consoles, gaming hardware
The trade deficit in the Indian gaming industry was USD 0.4 billion in 2022, based on India's trade data. As per the officials, the trade deficit is expected to narrow in the coming years as the Indian gaming industry continues to grow.
Factors of Increasing Popularity in Mobile Gaming
Rising Game Development Studios: One of the key pillars supporting the boom in India's gaming industry is the rise of numerous game development studios. These talented and innovative studios have been instrumental in creating games that influence both domestic and international audiences. From action-packed adventures to brain-teasing puzzles and from simulation games to esports, Indian developers have showcased their prowess and versatility on a global stage.
The Esports Phenomenon: Esports, the competitive world of professional gaming, has taken the world by storm, and India is no exception. With the establishment of competitive leagues, tournaments, and a dedicated fan base, esports has become a cultural phenomenon in the country.
Government Support and Investments: The Indian government has recognized the immense potential of the gaming industry and has been actively supporting it through various initiatives and policies. Incentives for game developers, investments in technology infrastructure, and efforts to promote esports have all contributed to the country's rapid expansion of the gaming ecosystem.
Conclusion:
India's gaming industry is a roaring success story that continues to influence millions across the nation and beyond. The industry has reached new levels thanks to a perfect combination of creative talent, technological improvements, a robust gaming community, and government support. The Indian gaming industry is growing rapidly, and the export of gaming PCs is a major contributor to this growth. So, if you are looking for gaming PC trade data, EximPedia.app is the perfect resource for you. We offer a comprehensive database of gaming PC trade data, including export and import statistics, market trends, HS codes, and buyer and supplier data. To learn more about the export data of gaming PCs from India, visit EximPedia.app today and book a free live demo!
