A bright new millennium lies in wait for Indian game developers. Biggies, watch out for the Indian wave
“Except Indians, almost everyone – right from a 10-year-old
kid to people as old as my father goes into the video-gaming room of my hotel and enjoy big time,” says Abhinesh Sikka, a 26-year old software professional working with US-based Trilogy Software Inc. while explaining how gaming is still not very popular in India. Indeed, a typical talk from a GenNext individual who realises the force behind the global gaming industry, which as per PricewaterhouseCoopers (PwC) is forecasted to grow at a Compounded Annual Growth Rate (CAGR) of 9.1%, escalating to $48.9 billion in 2011 from the current $37.5 billion (estimated for FY2007). So is Sikka right about Indians not loving video-games?
It was found that the rising influence of broadband, combined with gaming consoles & mobile gaming, was driving the phenomenon into Indian lands too, unlike what Sikka felt. No wonder Nasscom too forecasted that the Indian gaming market would touch $300 million by FY2009 at a CAGR of 78%!
And what makes India special? Well, in the face of a slowing growth in the American market (all set to touch $12.5 billion by 2011 at a modest CAGR of 6.7%; as per PwC) and with the growth predicted for India being much higher than the average for the Asia (touching $18.8 billion with a CAGR of 10%), the Indian market appears more lucrative for game developers who are optimistic about their fortunes in the sub-continent. While speaking exclusively to B&E, Atindriya Bose, Country Head – India, Sony Computer Entertainment claims, “Gaming has become an acceptable entertainment mode in Indian culture and there is a natural positive momentum amongst consumers towards gaming. Ever since the launch of PS3 in India, we have received a phenomenal response from the Indian market.”
With India already having made a mark on global tracks, by even outshining key destinations like Taiwan & South Korea, the potential is there for the taking. And despite the fact that we still can’t talk in order of billions of dollars, there are some Davids – like Dhruva Interactive, DQ Entertainment and many others – mushrooming in the hinterland too, vying to make a mark in the domestic gaming space.
However, there are challenges waiting for the aspirants as well. Rupee appreciation will pose as a major challenge as 75%-80% of total revenues for the Indian video game developers come from foreign markets as per ACNielsen. Besides it, rationalisation of prices and provision of India-centric contents also pose challenges as Atindriya professes, “Indianised content is something we have to focus on… We would like the consumers to be exposed to the true gaming environment.” Surely, for now, it’s game on in India too!
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
“Except Indians, almost everyone – right from a 10-year-old
kid to people as old as my father goes into the video-gaming room of my hotel and enjoy big time,” says Abhinesh Sikka, a 26-year old software professional working with US-based Trilogy Software Inc. while explaining how gaming is still not very popular in India. Indeed, a typical talk from a GenNext individual who realises the force behind the global gaming industry, which as per PricewaterhouseCoopers (PwC) is forecasted to grow at a Compounded Annual Growth Rate (CAGR) of 9.1%, escalating to $48.9 billion in 2011 from the current $37.5 billion (estimated for FY2007). So is Sikka right about Indians not loving video-games?It was found that the rising influence of broadband, combined with gaming consoles & mobile gaming, was driving the phenomenon into Indian lands too, unlike what Sikka felt. No wonder Nasscom too forecasted that the Indian gaming market would touch $300 million by FY2009 at a CAGR of 78%!
And what makes India special? Well, in the face of a slowing growth in the American market (all set to touch $12.5 billion by 2011 at a modest CAGR of 6.7%; as per PwC) and with the growth predicted for India being much higher than the average for the Asia (touching $18.8 billion with a CAGR of 10%), the Indian market appears more lucrative for game developers who are optimistic about their fortunes in the sub-continent. While speaking exclusively to B&E, Atindriya Bose, Country Head – India, Sony Computer Entertainment claims, “Gaming has become an acceptable entertainment mode in Indian culture and there is a natural positive momentum amongst consumers towards gaming. Ever since the launch of PS3 in India, we have received a phenomenal response from the Indian market.”
With India already having made a mark on global tracks, by even outshining key destinations like Taiwan & South Korea, the potential is there for the taking. And despite the fact that we still can’t talk in order of billions of dollars, there are some Davids – like Dhruva Interactive, DQ Entertainment and many others – mushrooming in the hinterland too, vying to make a mark in the domestic gaming space.
However, there are challenges waiting for the aspirants as well. Rupee appreciation will pose as a major challenge as 75%-80% of total revenues for the Indian video game developers come from foreign markets as per ACNielsen. Besides it, rationalisation of prices and provision of India-centric contents also pose challenges as Atindriya professes, “Indianised content is something we have to focus on… We would like the consumers to be exposed to the true gaming environment.” Surely, for now, it’s game on in India too!
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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