India seems to be making new history every day. Now the country has got another big achievement. According to the report last year, India now has the second largest gamer base in the world with 396.4 million gamers. But now the country is also going to set a new record with illegal gaming companies. Which are running illegally in the country.
According to data provided by market research firm Niko Partners, India now accounts for 50.2 per cent of all gamers in the list of top-10 Asian countries. ‘ In terms of earnings, India is also the fastest growing market with five consecutive years of growth rate of 21 per cent, said the report titled ‘The Asia-10 Games Market’ .
Business was expected to be $ 41.4 billion in 2026
Niko Partners estimates that the Asia-10 PC and mobile game market will do business of $35.9 billion in 2022, reaching $41.4 billion in 2026. Gamers are growing at a much faster rate than revenue. Niko Partners estimates that the total number of Asia-10 PC and mobile gamers will be 788.7 million in 2022, reaching 1.06 billion in 2026. But after the GST Council implements 28 per cent GST, this number will fall sharply.
These three countries are growing rapidly
India, Thailand and the Philippines are the fastest growing markets for sports revenue and number of gamers. Japan and Korea are the most mature markets in the Asia-10 region, , accounting for more than 77 per cent of revenues, the report said.
The future of this industry is fantastic.
The size of mobile gaming in India is growing very fast. Three out of four brands have significantly increased their investment in mobile gaming advertising in the past year. According to a report released in September, 75 percent of brands have been advertising on mobile game apps for more than a year, , which has led to a two-fold increase in gaming ad spending since the pandemic. According to InMobi’s , ‘Mobile Game Advertising 2022′ report, mobile gaming advertising saw a two-fold increase in ad spend (on-year)’ as 97 per cent of marketers who advertised on mobile gaming said they were satisfied with the results.
There will be a big loss due to GST
The GST Council in July decided to implement 28 per cent GST on the gaming industry and two days ago, Finance Minister Nirmala Sitharaman decided to implement it after October. Which is a big setback for the gaming industry. At the same time, after this decision of the government, the gaming industry is in shock and is looking for middle paths.
Flood of illegal gaming companies
After the decision to implement GST, there has been a flood of illegal gaming companies in the country. While the Government of India has banned these companies. Despite that, these platforms are growing rapidly in India and are causing revenue loss to the government. These companies have made big film stars and celebrities their ambassadors. So that the public can be enticed.
