The Indian gaming market is rapidly evolving, with more and more gamers moving from casual to serious gameplay. As per a new EY Loco Gamer survey, this shift in consumer behaviour is being reflected in the willingness of Indian gamers to pay for gaming subscriptions.
Two-thirds of the 13,000 respondents said that they are willing to pay for gaming subscriptions, with over 50% stating that they would be willing to pay for in-app purchases, opening up more avenues for monetisation for game developers.
The survey comes at a time when the Indian gaming market is experiencing significant growth, with the number of online gamers in India reaching 421 million in 2022 and expected to reach 442 million by 2023. Of these, 90-100 million are frequent gamers, and transaction-based game revenues increased by 39% in 2022, crossing Rs 100 billion.
The report also highlights that despite working from the office, almost 50% of respondents spent more time on game play, indicating a growing appetite for serious gaming. This trend is resulting in higher in-app purchases and opens up opportunities for game developers to offer high-quality gaming experiences.
The growing appetite for subscriptions in India is reflective of the increasing availability of high-speed data and low-cost payment systems, making it easier for Indian gamers to access and pay for gaming subscriptions. The report also notes that over 60% of internet users in India converse in regional languages, leading to many game developers offering games in regional languages such as Gujarati, Marathi, Tamil, Telugu, Kannada, and Bengali to attract them.
The EY Loco Gamer survey reveals a significant shift in the Indian gaming market, with consumers now willing to pay for high-quality gaming experiences. As the market continues to mature, game developers will need to focus on delivering engaging and immersive gaming experiences to keep up with the changing consumer preferences. With the increasing availability of high-speed data and low-cost payment systems, the Indian gaming market is poised for significant growth in the years to come.
