Indian gaming industry likely to touch 3,100 Crore by 2014

Monday, 30 August 2010, 02:03 Hrs   |    1 Comments
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Mumbai: At a growth rate of 32 percent, the Indian gaming industry is expected to touch 3,100 crore by 2014, according to a top industry official.

"Indian gaming industry is expected to grow at a Compounded Annual Growth Rate (CAGR) of 32 percent at 3,100 crore by 2014 with factors such as a young population, rising disposable incomes, increasing wireless users and proliferation of developers and publishers," Maya Academy of Advanced Cinematics (MAAC) Business Head, Kumar Warrier, told PTI here. MAAC is a leading player in high-end 3D animation and VFX education in India.

The size of the Indian gaming industry was estimated at around 790 crore in 2009, compared to 650 crore in 2008, implying a growth of 22 percent during the period.

While addressing a special seminar for students and professionals seeking a career in the gaming industry here, Matthey Jaffery of Electronic Arts, UK, said, "The increasing telecom bases and arrival of 3G, the expected roll-out of 3G services is likely to provide efficient high-speed data networks to mobile gamers. The telecom subscriber base is expected to increase to 725 million by 2013 with a mobile penetration of 60 percent."

The console gaming industry in India is expected to grow at a CAGR of 19 percent from 580 crore in 2009 to 1,160 crore by 2014 on the back of increasing disposable income and favourable demographics, Gameshastra's Vijaya Raghavan, said. According to various industry estimates, there are about 3,00,000 handheld consoles in India and the segment is witnessing a year-on-year growth of around 35 per cent.

The focus is now on developing a talent pool and leveraging cost-competitiveness. India already offers a significant cost advantage in animation and game development, as compared to other outsourcing destinations such as Taiwan and South Korea.

A key factor restricting the growth of animation and gaming in India is the scarcity of skilled professionals.

An increased focus on the needs of the segment by key stakeholders can help address these areas and lead to significant growth, Vijaya Raghavan said.

According to an estimate, the typical Indian gamer is a male from the top eight metros, has an average age of 26 and belongs to the affluent section. The average gamer has been playing on an average since 18 months now. The average person plays games three times a week and his usual gaming sessions last an hour in length. He also spends less than 150 per month on gaming, Warrier said.

The top four metros especially account for 59 percent of these gamers which indicates that availability of games and reach to target audience is still limited. The proportion of college-going students gaming on any platform has increased from 20 to 32 percent. Online and off-line mobile games will constitute about 24 percent of the gaming market this year and racing, sports games and shooting games make up for the top three genres for gaming in India, he said.
Source: PTI
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