We all know Indian market has huge potential when it comes to eSports. The market sentiments are quite high and this industry has brough huge business opportunities. Putting across his views, Himanshu Jain, Director, Ant Esports said, “India's gaming industry is a rapidly growing field, and the market for gaming in India will continue to expand in the coming years. India has one of the world's largest youth populations with higher disposable incomes that are being regularly introduced to new gaming genres making them adopt a gamer lifestyle. Plus, the recent recognization of eSports by the Indian government to be at par with regular sports will take this industry in league with every other popular sport in the country making it a mainstream option for individuals. These are clear indications that the Indian gaming market will grow at a rapid pace in 2023.”
Factors Fueling Gaming Market in 2023
Whereas, Himanshu highlighted some key factors which have contributed towards it’s immense growth. He said, “I believe below are the key factors that could positively impact India's gaming market in 2023 include:
1. Increasing internet penetration: As more and more people in India gain access to high-speed internet, the potential audience for online gaming will grow.
2. The growing number of smartphone users: The proliferation of smartphones in India will make it easier for people to play games on the go.
3. Launch of more gaming-focused platforms and devices: The launch of gaming-focused platforms and devices, such as new game consoles, could lead to increased interest in gaming among Indian consumers.
4. Increase in disposable income: The growth of the Indian economy and the increase in disposable income could lead to more people being willing to spend money on gaming.
5. Increased investment in local game development: The Indian gaming industry is still in its nascent stage, but if the government and private investors invest more in local game development, that would help the market to grow by providing more localized and vernacular content.
Challenges Upsetting The Growth
Himanshu again highlighted some of the major challenges during discussion. He said, “Several challenges could impact the growth of India's gaming industry, but two of the major ones include:
1. Lack of awareness: Public awareness about the gaming industry is still limited, this can hamper the growth of the industry since people are not aware of the potential of the industry and the career prospects.
2. Limited localization and vernacular content: The majority of Indian gamers play games in English, but for the industry to grow, there needs to be more localized and vernacular content that is accessible to non-English speaking gamers.
Opportunities for Gaming Hardware Market
While Himanshu commented that the gaming hardware market in India could leverage upcoming opportunities in many ways, like:
1. Increasing demand for gaming devices: As more and more people in India become interested in gaming, the demand for gaming devices such as consoles, gaming laptops, and high-end smartphones will likely increase. Companies in the gaming hardware market can capitalize on this by offering a wide range of products that cater to different segments of the market.
2. Expansion of e-commerce: With the growth of e-commerce in India, companies in the gaming hardware market will have greater access to consumers through online platforms, which can help them reach a wider audience.
3. Partnership with streaming platforms: Streaming platforms like Netflix, Amazon Prime, and Disney+ are introducing more and more gaming-related content, such as game-based shows and competitions. Companies in the gaming hardware market can leverage this by partnering with these platforms to offer special deals and promotions on gaming devices.
4. Focus on localization and vernacular content: As more localized and vernacular content becomes available, there will be more opportunities for gaming hardware companies to market devices specifically for these types of games.
5. Research and development: With the emergence of new technologies like 5G and Virtual Reality, gaming hardware companies in India could invest in R&D to develop hardware that is compatible with these technologies and takes advantage of the opportunities they offer.
6. Government support: With the Indian Government's focus on promoting local manufacturing and reducing dependence on imports, gaming hardware companies have an opportunity to leverage the government's support to grow their business.
“We at Acro are constantly evolving with the current trends and devising our approach to cater to the upcoming demand in the best fashion possible. Bringing in newer global brands at competitive pricing to fill in the gaps while strengthening the current portfolio of Acro is our prime priority as each player’s needs are different and each gaming title requires a specific set of hardware for optimum gameplay so the demand for each gaming hardware is going to be huge in the near future and we plan to stay ready for the same,” added by Himanshu.
