Gaming Trends in India 2023: The Indian esports market has seen significant growth and expanded into a billion-dollar industry by 2022, scaling previously unimaginable heights and generating record-breaking earnings. The country’s gaming market, which has 507 million players, reached the $2.6 billion mark this year and is expected to grow at a compound annual growth rate (CAGR) of 27% through 2027.
The exceptional growth of the industry this year may be evidenced by the sales figures, but they do not represent the remarkable features of this journey. The industry was elevated to a new level by several milestones achieved throughout the years and the general public’s perception of video games changed for the better.
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2022, a year to remember in Indian gaming history
The official recognition of Esports as a multi-sports event by the government, which finally separated video games from fantasy games, was undoubtedly the most significant of these. Years of community work finally paid off with a ground-breaking choice that ushered in the golden age of video gaming in India.
Participation of mainstream media outlets like INOX, OTT platforms and TV stations that telecast high-profile esports competitions like the BGMI Masters Series 2022, also increased viewership and made video gaming the first mainstream sport in India.
Then there were incredible feats by India’s talented athletes, including Hitesh Khorwal’s top 8 finish in Tekken at the 14th World Sports Championship and Muhammad Ibrahim’s historic bronze medal in DOTA 2 at the Commonwealth Games in Birmingham. Following this, the International Olympic Committee’s (IOC) endorsement of the Olympic Esports Week in June 2023 and the proposal of Esports as an official medal sport at the 2025 Asian Indoor and Martial Arts Games (AIMAG) were also significant wins for business. International scale.
Big-name non-local companies like Puma, Bingo, Hyundai and many others also saw the potential of the industry and announced their entry into the gaming business to take advantage of its lucrative potential.
As a result of all these victories in 2023, here are five key trends that have improved the country’s Esports scene and set the stage for a grand slam year for the industry as a whole.
Throughout 2022, the Indian gaming scene underwent a significant transformation, as in-game purchases reached previously unknown heights. According to a new 2022 India Games Market report by Niko Partners, this year, 396.4 million gamers spent close to $704.5 million in India’s PC and mobile market.
In 2022, about 34% of the nation’s video gamers spent money on games, demonstrating an increase in the proportion of in-game purchases made by the nation’s avid and casual gamers.
By 2026, player spending is expected to rise to $1.4 billion, including 630 million gamers, indicating that current trends will continue and peak in 2023.
5G and the Metaverse
The world has been filled with several technological developments, and the gaming industry is no exception. Provides a seamless experience by enabling players to interact electronically, create and expand environments, and create minigames within a game
Virtual reality has advanced for the gaming metaverse and entered a whole new realm. On the other hand, 5G will open many more possibilities for the Indian gaming industry.
At the Asian Games next year, esports will debut as a full-fledged medal sport and the entire gaming community will be watching to see which nation makes history.
The 18-member Indian team, which qualified for the prestigious event through the National Esports Championship, will compete in five different video games including DOTA 2, Hearthstone, FIFA 22, Street Fighter V and League of Legends to represent their nation. The competition will mark the first time that the entire nation will see gamers as athletes and come together to support and encourage them, which is very significant for the gaming community.
A more physical tournament
After the pandemic first came and the BGMI ban, it has been a wild ride for LAN competition in the country. Online competitions have become common after the lockdown as the community has become accustomed to them. It finally opens up the world to everyone. Esports tournaments were once again held on a significant scale, but the ban on India’s leading video game, BGMI, crippled most live events, raising serious doubts about their return.
LAN tournaments, however, will make a big comeback in 2023 as esports organizations adopt multi-roster strategies and the appearance of new video games such as Valorant, Pokemon Unite and PUBG: New State, which are gaining huge popularity.
More Made in India games
The country’s game makers have been working tirelessly for years to create high-caliber video games that would put India on the map alongside famous publishers like Netease, Tencent, Supercell, etc., but they often lack the funds to do so.
Now with enough money flowing in from both large corporations and governments, that barrier will be removed, giving the domestic video game industry the boost it needs to thrive.
According to Lumikai Gaming Survey, Indian gaming companies have raised $2.8 billion from investors in the last five years. This number is expected to increase in 2023, providing inspiration and sufficient resources to local game developers to create excellent, first-rate games and also promote Made-in-India video games.