Indian gaming market to touch $425 Million

Bangalore: The gaming market of India, which is yet to be explored, is predicted to reach $425 million by 2010. The current penetration into this market accounts to only one percent. "The Indian gaming market right now is nascent, but many new gamers were moving in. It is currently a vibrant market," says Atindriya Bose, Country Manager, Sony Computer Entertainment.

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This vibrant market has seen many new explorers in the metros and also in other cities in Punjab, Gujarat, Vishakapatnam, Salem and Thiruvanthapuram. Infact, during the last 2-3 years the growth in the gaming sector is experienced to be seven fold, with the kid segment, which comprise of kids in the age group of 10-14 years, and the college students segment contributing most to the growth. There is also growth in the console gaming market which saw an installation of 6.5 lakh consoles in the country with majority being individual customers. Bose also observes the growth in the increasing number of feedbacks and blogspots on gaming.

The main reason behind the market witnessing slow growth in the past was import duties which were as high as 31.7 percent and the fluctuating rupee-dollar scene. Apart from that there was the piracy factor which took a great toll on the gaming segment.

However, rationalization of prices came to be a major relief which also ended piracy. Prices of playstation two and portable playstation which were in the range of 11, 000 to 18, 000 dropped to a range of 6000 to 9000. Even the price of playstation three is reduced to 25, 000 from 40, 000. Apart from that other initiatives were also taken to ensure the growth of the market, like inviting peripheral players to come and experience the products through exhibitions, roadshows and other events. Moreover, the core gamers can be lured through holding of regular championships, racing events and participate in some of the best games offered.