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News >> Technology >>
Gaming Industry to breach $1-B by 2010
By siliconindia
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Thursday, 11 January 2007, 18:30 IST
Hyderabad: The Indian animation and gaming industry revenues reached a whopping $402 million in the recent years and is expected to breach the $1-billion mark by 2010. This is mostly due to huge demand for animation content and online/mobile gaming in the domestic arena.
Nasscoms animation and gaming industry report, 2007 says that due to majority of the workforce being involved in the outsourcing segment, the share of the domestic market is expected to grow.
In the gaming section, increased mobile and broadband penetration along with the introduction of new generation consoles is expected to drive growth for the nascent $48-million industry. The report notes the success of several Bollywood movies like Krrish, Dhoom 2 and animation movies like Hanuman, which have contributed to the sudden demand for animated content in the domestic market.
Gaming is expected to witness a 72 percent CAGR to touch $424 million by 2010 while animation is expected to rise by 25 percent. The report also points out that while the global animation market is estimated at $59 billion in 2006, the gaming industry is pegged at $ 21 billion.
The report also proposes Government support to the animation and the gaming industry in manpower development, infrastructure and industry status parallel to the infrastructure of developed countries like France, Singapore, China, Korea, Canada and Philippines.