Games Industry Grew 16% in India in 2012 - NewsWilliam D'Angelo, posted on 17 April 2013 / 3,127 Views
The video game industry grew by 16 percent in 2012 to Rs 15 billion ($277m) according to the FICCI-KPMG Indian Media and Entertainment Industry Report 2013.
The report also states that the industry will continue to grow at an average of 22 percent per year and reach Rs 42 billion ($776m) by 2017. However despite the growth, the firm expects mobile gaming to eat into the console sales. This is due to the discontinuation of the PlayStation 2, which is the only entry-level console on the market at this time.
While the industry grew console sales did not meet expectations. Console sales grew just eight percent, well short of the 28 percent that was estimated. This is due to the "overall sluggishness in the economy impacting both unit sales and attach ratios."
Console sales are estimated to grow at 19 percent to Rs 19 billion (351m) by 2017. However this will only happen if the PlayStation 4 is able to take off and if mobile devices take longer than expected to take off.
PC gaming while only a small chunk of the total gaming sales is expected to grow at a constant rate. However the report does not mention if digital services, such as Steam, are taken into account.