Fintech
Travel Tech
Electric Vehicle
Health Tech
Edtech
IT
Logistics
Retail
Ecommerce
Startup Ecosystem
Enterprise Tech
Clean Tech
Consumer Internet
Agritech
Become A Startup Insider With Inc42 Plus
Join our exclusive community of business leaders &makers for in-depth tech stories and intelligence on India’s tech economy you won’t find elsewhere.
Unlimited Access
Unlock unlimited access to 500+ monthly new stories and Inc42’s complete archive of 40,000+ stories.
Inc42 Academy
Exclusive, in-depth and actionable sessions from 300+ industry leaders, founders & operators to help you level up.
Startup Deals
Over $250,000 worth deals on software & tools to help your business scale up.
Member-Only Events
Connect with editors and industry peers through our members-only community
Clutter-Free Experience
Enjoy an ad-free and clutter-free experience as a member, focus on what really matters to you
Support Independent Journalism
Your contribution will go on to support and empower our unbiased & data-driven journalism
Become A Startup Insider With Inc42 Plus
Join our exclusive community of business leaders &makers for in-depth tech stories and intelligence on India’s tech economy you won’t find elsewhere.
Choose Your Plan
Become A Startup Insider With Inc42 Plus
Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.
The online gaming market in India is having a moment. The industry, worth $543 Mn in 2016, grew by 17.3% to reach $1.027 Bn in 2020, an EY-All India Gaming Federation (AIGF) report says.
The sharp growth witnessed in this space is driven by affordable smartphones, improved internet connectivity, the rise of gaming content on various streaming platforms and the strong inclination of the youth towards digital entertainment. However, the Covid crisis has played a crucial role here since 2020. As outdoor activities were strictly restricted due to pandemic-induced lockdowns, online gaming emerged as a strong recreational impetus.
India also moved to the top spot in global mobile game downloads in the first nine months of 2020, with 7.3 Bn or 17% of worldwide downloads clocked during this period. Some of the most popular genres of the time were multiplayer action-adventure, sports, fantasy and skill-based games.
The rise in the number of gamers — 360 Mn in 2020 and is projected to grow to 510 Mn by 2022, according to the same report — further accelerated the potential of the online gaming industry.
The newfound traction saw many new players enter the segment to tap into this huge opportunity. At present, as many as 400 gaming startups are operating in India.
Among these, the most significant gaming platform is Nazara Technologies that launched its IPO in March 2021.
The industry recently came under the spotlight when the Karnataka Assembly passed a Bill to ban online games that include any form of betting or gambling. With the future of fantasy and online card games still uncertain as their status is fiercely debated as a game of chance versus a game of skill, the latest legislation further complicates the situation.
With so many developments happening across the industry, it is essential to focus any discussion not only on growth strategies and tech innovations but also on data security, regulatory hurdles and building a troll-proof community.
In a bid to address these issues and take a deep dive into the trends, opportunities and security challenges in the online gaming space, Inc42 hosted The Dialogue, powered by Onfido.
Set up in 2012, Onfido helps startups and enterprises conduct identity verification and streamline and speed up the onboarding experience for users through AI-powered processes. With the aim to create a more secure onboarding experience for businesses and users alike, Onfido partnered with Inc42 for this edition of The Dialogue.
The Dialogue: The Rise Of India’s Online Gaming Platforms
Moderated by Utkarsh Sinha, managing director of Bexley Advisors, the session hosted Sameer Barde, CEO, TORF; Sunit Warish, CEO, RummyBaazi, and Manish Agarwal, CEO of Nazara Technologies.
During the session, we focussed on:
- The factors driving startup growth and opportunities in 2021
- How the pandemic and the government’s measures to contain it became the biggest factors to drive the adoption and scale of the online gaming industry
- The viewpoint of the industry on the recent government Bills and the ban on real money gaming platforms
- The challenges and threats regarding user security on gaming platforms and how solutions from companies like Onfido are helping ensure a seamless and secure user onboarding process
