The Indian market for smart TVs, gaming consoles and other digital goods has been flooded by new players, analysts say
Experts are predicting a surge in new players to the Indian gaming console market, with many of them eyeing the likes of Amazon and Apple as the new players in the lucrative market.
In fact, experts are expecting that Indian gaming consoles will surpass those sold by the US-based Apple in the coming years, as the Indian market has become a major destination for Apple.
“India’s gaming consoles are a big step in the right direction,” said Ankit Pandey, founder of online gaming company Gurgaon-based consultancy Gameloft.
“We believe this is going to be a major event for the Indian game console market.”
Pandey believes that Amazon and other big tech companies are likely to gain market share in the next two to three years, especially as the country’s mobile gaming market is already big.
The Indian mobile market is estimated to be worth more than $300 billion, while Apple has said that it will be worth $3 billion in 2021.
While the new entrants may be in the form of Apple and Amazon, the biggest players in this space are also looking to the online gaming space.
“Indian gaming is growing in importance because of the large amount of mobile gamers who use the app to connect with friends and family,” said Manish Gupta, founder and CEO of mobile gaming service, Play.
“This will be an area of focus for the new tech companies and they will also try to expand into the offline gaming space.”
Gurgaon is India’s second-largest metropolis, after New Delhi, and the city has a population of about 10 million.
The population is mostly made up of young professionals, who are spending time at their computers, according to a report by Gurgaontimes.com.
Gurgaontime’s data shows that nearly one in four residents is a gamer.
A majority of them use the game app, such as Candy Crush Saga, Clash Royale and Minecraft, Gupta said.
The company said that in 2020, more than half of all gaming devices sold in India were smartphones, which accounted for 25% of all smartphone users.
As more Indian consumers become internet users, companies are looking to bring in new customers.
“In 2020, the market will likely be saturated in the mobile gaming space,” Gupta said, adding that Amazon, for example, will likely launch a gaming console for India in the near future.
The console will likely have a price tag of around $150,000, he said.
Amazon has been making efforts to expand its gaming business in India.
In November, it launched its first-ever India store, the Amazon Indian store, where users can purchase games and apps.
The Amazon India store was also a part of the Indian Gaming Console Summit, an annual event that was held in New Delhi.