India Online Game Market, Analyzed by Player Format and Game Model – Forecast to 2024
World News: 15:04 GMT Friday 8th November 2019. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Nov. 08, 2019 (GLOBE NEWSWIRE) — The report has been added to offering. The Indian online game market is projected to grow at a CAGR of around 23% during the forecast period, on account of increasing smartphone user base, rising internet penetration and surging disposable income.Another factor which is directly impacting the market is age demographics. Major population in the country is young and below 26 years of age, which is the major age group segment in the online game market. Generally, gamers engage in gaming for stress relief and social interaction. Owing to aforementioned factors, the online game market in India is expected to register strong growth during the forecast period.The Indian online game market can be segmented based on device, player format and game model. On the basis of device, the market can be categorized into console, PC and mobile. Mobile segment dominated the country’s online game market in 2018 and is anticipated to maintain its leading position in the coming years as well, on account of affordable cost of smartphones and rising penetration of internet in rural and urban areas. In terms of player format, the market can be bifurcated into single player and multi-player. Multi-player segment is likely to grow at an impressive rate, as it engages more number of gamers and offers an opportunity for social interaction.Online game is gaining traction across the country. In terms of regional analysis, the market can be segmented into north region, south region, east region and west region. Online game market in north region is growing at a brisk rate, on account of high internet penetration in the region.Major players operating in the Indian online game market include EASport, Tencent, StomStudio, Nazara Technologies, AGTech Holdings Ltd., 2K Games, Inc., Gameloft, Ubisoft, Rockstar North, Zynga, 99Game, etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. The number of game-developing companies grew from 25 in 2010 to over 250 in 2018. In 2018, Alibaba’s AGtech Holdings and the Indian digital payment company Paytm, as part of a joint venture, launched Gamepindi in India.
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Globe Newswire: 15:04 GMT Friday 8th November 2019