New Delhi: At this time of PUBG and other mobile games, reports suggest that the online gaming industry is expected to grow at a compound annual growth rate (CAGR) of 40% to USD 2.8 billion by 2022, up from USD 1.1 billion in 2019. The growth was projected by Deloitte India. Also Read - IPL 2021: Reliance Jio Reveals Special Plans, Free Disney+ Hotstar VIP Subscription for its Users to Watch Matches Live
According to the report, the growth is expected to strengthen the online gaming industry’s share of total media and entertainment industry by 4−5%. Also Read - PUBG Addict Recreates Scene From The Game in Real Life, Kills 2 People & Injures 3 Family Members
The report also stated that the coronavirus pandemic pushed the growth further as most of the user latched on to online gaming platforms in absence of entertainment options during lockdown period. Most of the users spent time on gaming apps, and that increased by 21% during the initial national lockdown, with the total customer base crossing 300 million users. Also Read - Teenager Kills 12-year-old After Fight Over PUBG, Arrested
It must be noted here that India is one of the top five mobile gaming markets in the world, with a 13% share of global game sessions. The online gaming industry in India is expected to add 40 million online gamers during 2020−22.
Furthermore, the report also added that the business model of gaming platforms has changed a lot over the period of time with the gaming firms gradually moving from model dependent on download volumes and advertisements to one with diversified revenue streams built on consumer engagement and elevated experience levels.
Moreover, the Indian gaming platforms have attracted more than UDS 450 million in the last six years. Some of the prominent investments include those in Mobile Premier League, that raised USD 90 million in 2020 from Pegasus Tech Ventures and others, JetSynthesys (raised USD 40 million from DSG, Jetline, and Triveni Engineering & Industries) and Reliance Jio that invested in mobile gaming startup Krikey among others.