According to a report, India is among the top five countries for mobile gaming in the world.
Video games have always been a great source of entertainment for almost everyone belonging to varied age groups. But who would have thought this the same video games can evolve as one of the most profitable business ideas in the future.
Yes, that's right. The digital video gaming industry is now growing at a rapid pace in India. Since India is witnessing a quick rise in disposable income, the Indian population is now looking out for unique experiences that could help them enjoy, forgetting their day-to-day hectic lifestyle.
This rising demand from customers has somewhere forced entrepreneurs to focus on a segment like digital gaming which carries a huge potential as an industry in itself. After all, video games can attract a large number of masses in quick time.
India: The Growing Hub for Digital Gaming
According to a report, India is among the top five countries for mobile gaming in the world. The industry has shown rapid growth in the last couple of years as Alibaba backed-Paytm, Tencent, Youzu, and Nazara investing in the industry, backing it up.
Currently, the Indian gaming industry is worth around $890 million where the demand for games will be on an upward curve. The country is having more than 250 game development companies with at least two startups coming every year.
With the availability of franchise options in this industry, the segment is believed to experience good growth in the future, welcoming new entrepreneurs to grow their digital gamins business through franchising.
Increased Accessibility acting as a Booming Factor
At the tap of a screen, people can easily download games onto their smartphones which is directly contributing to the rise in the popularity of the gaming industry in India. Evidently, the rise in cell phones adoption is running parallel to the increase in the mobile gaming industry.
Many game developers such as Corporate Fantasy League, Moon Frog, 99Games, PlaySimple, and Mech Mocha are capitalizing on the growth in smartphone usage to build their businesses. In fact, Corporate Fantasy League recently announced its franchise-based model for expanding its business through offline stores as well.
The Growing Popularity of E-Sports
Gamification is solely responsible for bringing in a new trend upon which some firms have been quick to capitalise. The trend is popularly being known as ‘E-Sports' which is picking up steam in the Indian business ecosystem at a rapid pace.
Entrepreneurs are planning to develop an ecosystem for enabling competitive online and offline gaming, working on creating local leagues and further boosting esports as spectator sports in India.
Electronic Sports League (ESL) is one innovative approach of Nazara Technologies which is a mobile game publishing company. Dream 11 is another digital gaming innovation that has grabbed the Indian market by storm, welcoming millions of users to participate and win digitally.
Introduction of AR/VR in Gaming
Virtual reality gaming is yet another fast-growing vertical in India. Through constant innovation and experimentation, gaming entrepreneurs are trying to create an environment digitally where users could enjoy the real aspect of a sport through innovative usage of AR and VR technologies.
Franchising Elevating the Digital Gaming Industry
Franchising is now a one-stop destination for all entrepreneurs that dream of achieving big. Even the Indian entrepreneurs are showing their interest in this business model that can help them operate and grow, especially in the modern-day stiff industry.
IB Cricket is a renowned brand in the digital gaming sector that is also into franchising. Through its innovative and attractive services, the brand is targeting aspiring, potential, and dedicated franchisees that can help them grow the business through franchising.
In fact, this model is believed to transform this industry into a more organised form, generating numerous opportunities for both the customers and entrepreneurs.
The standard franchise business model of IB Cricket would cost you around INR 22.5 lakhs, including all the equipment, software, hardware, and furnishings. While the premium business model would cost you around INR 25 lakhs with Return on Investment (ROI) to be around INR 60 lakhs-1.2 Cr in four years.
While this certainly is an era of technology and franchising, the future of digital gaming industry looks bright and promising in India. So are you ready to invest in a digital gaming franchise business?