Image Source : Wezom
The gaming sector’s remarkable growth and popularity have led to a significant increase in revenue, with the industry generating over €1.3 billion last year. This impressive milestone underscores the sector’s substantial expansion and widespread appeal. However, it’s worth noting that the industry watchdog has taken a firmer stance, revoking almost double the number of licenses compared to the previous year.
The Indian gaming market is expected to experience tremendous growth, with projections suggesting that the sector will reach $8.92 billion by 2028, up from $3.1 billion in 2023. Mobile gaming is a significant contributor to this growth, accounting for 90% of the gaming market in India. This surge in mobile gaming can be attributed to the increasing availability of affordable smartphones and high-speed internet connectivity.
The gaming sector’s expansion is also creating new opportunities, with the industry projected to add 2.5 lakh more jobs in the next 10 years. Currently, the sector employs around 1 lakh skilled gaming professionals directly and indirectly. This growth in employment opportunities is not limited to game development and design, but also extends to related fields such as esports, game testing, and gaming journalism.
Moreover, the gaming sector’s growth is also expected to have a positive impact on the economy. The industry’s expansion is likely to attract investments, generate revenue, and contribute to the country’s GDP. Additionally, the growth of the gaming sector is also expected to promote innovation, entrepreneurship, and creativity, which are essential for the development of a knowledge-based economy.
In conclusion, the gaming sector’s remarkable growth and popularity have led to a significant increase in revenue, employment opportunities, and economic contributions. As the sector continues to expand, it is essential to ensure that it grows in a sustainable and responsible manner, with a focus on innovation, creativity, and social responsibility.
