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India tipped to be world’s largest gaming market

India tipped to be world’s largest gaming market
PTI
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First Published: Sun, Nov 16 2008. 02 58 PM IST
Updated: Sun, Nov 16 2008. 02 58 PM IST
Bangalore: “The console gaming market in India, which is one of the biggest untapped markets in the world with less than one per cent penetration, is expected to reach $125 million by 2010,” a senior official of Sony Computer Entertainment said.
“The Indian console gaming market, which is expected to reach $125 million by 2010, offers a huge potential for marketers in days to come,” Sony Computer Entertainment Country Manager Atindriya Bose said.
“The world gaming market is expected to reach $43 billion by 2010 with Indian outsourcing potential being $10 billion,” he said.
“India is lagging behind by 10-15 years in the world gaming curve but had picked up rapid growth in the last 2-3 years with the console gaming component having experienced a seven fold growth,” he said.
“The Indian gaming market right now is nascent but many new gamers were moving in. It is currently a vibrant market,” he said, adding that the sector was picking up in the metros as well in other cities with the Punjab belt, Gujarat, Vishakatpatnam, Salem, Thiruvananthapuram seeing a lot of momentum.
“However, the industry is facing some challenges, import duties are as high as 31.7%, creating a major hurdle. The fluctuation of the dollar rate had also hindered stabilisation of prices,” he said.
But, there had been a lot of rationalisation of prices of gaming consoles recently. The Playstation-2 and portable playstation which were in the range of Rs11,000 to Rs18,000 had dropped to Rs6,000 to Rs9,000 while the Playstation-3 had seen a drop in prices from Rs40,000 to Rs 25,000, he said.
“Piracy was another major hurdle especially in Playstation and Portable Playstation. However, rationalisation of prices had helped in countering the piracy effect to some level,” he said.
“The three main gaming segment comprised the kid segment ranging from 10-14 year olds who played games but were under parental supervision. The second segment comprised college students who were glued to the latest developments globally in the gaming scenario and discussed gaming a lot,” Bose said.
“The early earner segment comprised those who should have played games 10 years earlier but could not as the industry in India had not been developed,” he said.
Out of the three segments, the first two were growing rapidly with many new entrants to the field.
“The picking up of gaming market is evident from the feedback and the blogging spots on gaming,” he said.
“The console gaming market currently had witnessed an installation of 6.5 lakh consoles in the country with majority being individual consumers. Corporate sales were seen mainly in BPO and IT sector were gaming was being used as a ‘stress buster.´ However this segment constituted a very little of the entire market, and could be grown further,” he said.
He believed the current vibrancy in gaming would soon lead to an avalanche shortly.
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First Published: Sun, Nov 16 2008. 02 58 PM IST