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Multimedia Market
Multimedia Hub Animation as well as gaming Industry is a well established multi-billion Dollar knowledge based industry that has started to make firm grip in Indian market. Not only entertainment, it aids in job creation, sustained growth and the expansion of Trade in Global market. This Multimedia industry comprises of team of marketing Managers, sales team, Creative people, and technical programmers. Multimedia has emerged as significant tool in Education, entertainment and technical presentations. It also supports other professionals such as Artists, Celebrities (for voice acting) and music publishers. Similarly in the field of education and advertisement streams and Global nonentertainment animation industry accounted for the turnover worth $15 billion in the year 2012. One sub branch of Multimedia that has become a serious contender of multimedia market in India and around the globe is Game industry. This industry has shown an exponential growth in India after popularization of smart phones and availability of low cost Internet. The online gaming segment has registered an impressive 45 per cent growth in the year 2020 with strong user base surpassing 365 million by March 2020, with Real Money Games (RMG) both card based and fantasy based, seeing strong traction. Casual gaming also saw strong consumption uptake in the year 2020 with in-app monetisation also started with good momentum.
Existing Market Of Online Gaming In India The inking of India’s online gaming industry can be dated back to the decade starting in the year
2000, when console and PC gaming brought several middle-income group Indians on digital gaming platforms. For Indian Game development ecosystem, India acted primarily as service providers for international developers. Online gaming market realized impressive volumes with 120 million online gamer(s) and market value estimated at USD 290 mN in 2016. However, challenges like limited local games development facilities and monetisation of gamer(s) are still restraining force in spite of high potential. In recent years, local internet ecosystem has initiated the course correction by end to end local game development and adoption of digital payment solutions. Indian online gaming industry is likely to add 190 million gamer(s) and become a USD 1Bn opportunity by the end of the year 2021 while it was just USD 290 million in year 2017. An average Indian online gamer::• is introduced to online gaming through their friends, family and peer group • is engaged in gaming for stress relief and social interaction • prefers puzzle, action and adventure games.
During 2010s • The development ecosystem has evolved in line with the exponential growth of consumption. • With the development of comprehensive local expertise and influx of fresh funds, role of local companies is evolving from being a service provider to end-to-end game developers. This trend is expected to become bigger in future; with companies developing enhanced content customized to local market preferences. These local theme and language based games are expected to
