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GAMINING INDUSTRY

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					LN College of Management &
       Technologies


       Year 2007-2008
          Semester I


          Project On
   Computer Gaming Industry




     Project Submitted To
     Prof. Ranjit Krishnan




         Prepared By
        Sachin Kothari
          Roll No 19
       MBA Full Time
Index
Sr. No                   Particulars                 Page No.


  1      Executive Summery……………………………………...             3


  2      Introduction of Topic…………………………………….           5


  3      Literature Review………………………………………...            7


  4      Experts View on Topic…………………………………..          12


  5      Issues Facing by the Industry…………………………….     18


  6      Suggestion & Recommendation………………………….        20




                              2
Executive Summery




Loding…..10%...25%.....55%......80%......Loding Complete….Press Enter.
This is the interface from which we are familiar of every game whether after
that we are in a position of playing it the further or not.
                A very warm welcome to world of Gaming. We used to think
that the game which we are playing is meant only for time pass purpose and
nothing else. But I have different opinion. How it sounds when I say to you
that these game are now becoming part of studies in Army of USA.

                S U R P R I S E D
                Well I was also surprised when I read the entire article
featured in Times of India. I have more interesting news of this type. But let
me tell you first something about GAMING INDUSTRY.
                As the word described it self “INDUSTRY”. We all know
that in Industry lots of man power is require with the technology and in 21 st
century it is happening with Gaming also. Because in gaming lots of people
are require as far as creating of the game with the help of latest technology
to give game a real experience is concerned. Man Power is require from
Generation of idea upto Final Touch. One more reason for calling it Industry
is that the annual turnover some the Companies like EA Sports SEGA Games
are minting money in truck load. The Balance sheet of EA Sports which is
producer of some on world’s finest game like Cricket, Fifa have crossed 200
$ million Net Profit last year. In this report I have tried to cover the all
aspects of Gaming whether it is idea of making Game, technology Require,
time period, money required, or and-user.


                                         3
                  Computer Gaming Industry has divided into mainly into two
sections. One is OFFLINE GAMING and another is ONLINE GAMING.
For Offline Gaming you only require a Computer and that game for which
Internet is not require. But for Online you need Internet connection with
Computer. In this report I have emphases more on Online gaming because
these games are source of daily income for Creator, Advertisement agencies,
Producers, Internet Provider because to play online games you need a
subscription of that game. I have discussed more reason to support my point
in this report.
                  Online Gaming is new in India. We can say that it has been
started in 1990 or sooner by Yahoo.com which allows its members to play
various games like Pool, Chess, Hearts, Reversi & many other games. But
these games were small in size and can be played by 2 people only at a time.
But after that many Revolution has been Happened in India. After that
many international companies have come to India to spread its base in India.
Like Gravity & Lee Mougen Corp, EA Sports, Valve etc. These companies
not only promote its own product but also directly or indirectly advertised
for Internet Service Provider. Because to play those online game developed
by these companies you must have Internet connectivity. These companies
advertise in the form of organizing a gaming event, sponsoring it, free
distribution of DEMO CD’s of their game etc. These companies also helping
to Computer Manufacturer by way of making Games compactable to their
product because after all to play games computer is require and they make
their game to be compactable to those costly Hardware and Software.




                                        4
Introduction




                For a lot of people in India, ‘computer games’ and gaming
are still restricted to furtive sessions of Solitaire or FreeCell on the office
computer, a finger hovering nervously over the ‘close program’ button.
There is also a basic mindset that gaming is a waste of time and meant only
for children. Internationally, though, games are something of a social sport,
with online role-playing games that have massive subscriber bases, gaming
tournaments and professional gamers’ leagues
                I must say that every time we play the game which we like,
we never want to leave that game in middle. We always want to explore
each and every aspects of that game. Somebody likes Computer game, some
like mobile games, somebody don’t like at all. Did you know that to create a
game it requires lot of time. It is not just a matter of a day. Some time we
play the game and leave that as it is saying that “Ye game bakwas hai” but
we are not aware that to create that game so much time has spend and
because of our ignorance we are criticizing somebody’s hard work.
                Did you know that Gaming Industry, estimated at $8.6 billion
worldwide in 2001, looks set to come of age in 2002 and grow up to $28.3
billion by 2004-05. However, in India, gaming is currently emerging as an
industry variously estimated at between only Rs 20 crore and Rs 40 crore.
But the estimate does not include the other expenses related to games such
as costly hardware, software, internet connection etc. These estimates
reproduce the turnover of Only Gaming Industry which includes only
Purchasing of Gaming CD’s by the end-user.



                                         5
               Online gaming is the newest addition to the gaming
ecosystem in India. Electronic gaming in India started way back with
consoles & increasing PC penetration helped offline gaming also grow. This
was further helped by widespread piracy leading to cheap & easy availability
of game CDs. Recently mobile gaming has done wonders in adding up
numbers and creating an entire game development ecosystem of content
developers and aggregators in India. The success of mobile gaming is being
seen as an indicator for the potential of online gaming in India.
               The Gaming Developer works with not only their team
member but also with Manufacturer of Computer parts because to give a real
feeling they need to know the hardware and software to design the game
interface. They also see to it that with every new edition the requirement of
components should also be at high to get extra bucks from manufacturers.




                                       6
GAMING INDUSTRY



To understand the Fundamentals lets look at the Requirement of Games.
    Computer Hardware
    Computer Software
    Internet Connection


Computer Hardware.
               The hardware is the main part of Computer. It includes
Mother Board, Chip, Hard disk, RAM, Key Board, Monitor, Cabinet and all
small-small wires and nut bolts. The Game developer thinks about the
Mother Board, Chip, Hard disk, RAM because these parts facilitate game to
run. The game is created after considering the Mother Board, Chip, Hard
disk, RAM quality because every day the technology is changing. So a game
developer has to take some base for creating the game. And the overnight
change in technology will not affect the game content because while taking
the base the game developer usually takes that configuration which
according to him is easily available in the market. Some times they consult
with manufacturer of Hardware and they advice them for the changes which
can take place. After taking decision about the compatibility the developer
takes the further steps. Earlier in 1980’s the game is not so popular among
the public. Pac man is most popular game at time. To play pacman no
special hardware is require and it is very easy to play. Later as the
technology improved the need for better games came from people. The
developer came forward and they introduced the new era of playing. They
try to give the real experience, the experience which a normal person can

                                       7
only experience through the virtual world. Then the various games came into
market. Today the game which we are playing is some how connected to
those classical era. The biggest player in the Hardware section is Intel and
AMD. These companies produce the Micro chip and the Motherboard which
is supposed to be heart and mind of any computer. The Hard disk and RAM
producer LG, Samsung, Sony, Asus use to share the market.




Computer Software
               Computer Software refers to Operating Software like
Windows 98, Windows 2000, Windows XP, Linux which is require to start a
computer. Other software like Direct-X, audio-video effects and all that. The
Computer game can not give us the real effects without audio video effect.
As the time changes there are lots of changes which have took place in
Operating software which is very useful while playing the games. Microsoft
the Leader in Operating Software is taking care for that.


               To Play Offline games Internet is not required. The offline
game share 50 % of total Gaming Industry. Offline game is still popular in
India because there are still less user who plays with Internet. In India the
Internet facility is costly. It cost minimum Rs.300 a month for limited user,
in which he gets limited usage. The speed which a normal person is getting
in that budget is also very less say 140-200 KBPS. As the offline gaming is
economical a very vast community is playing the offline games.




                                       8
               The game developer usually keeps the price high of offline
game content, because they are not getting any revenue as far as
advertisements are concerned.
               Offline Games has two types
            1. Solo Gaming
            2. LAN Gaming


Solo Gaming:
             The word describes itself. Solo means single player. Whenever
any person plays alone with computer it is called Solo Gaming. In India solo
gaming is more popular because nobody has time to play with each other.
Some of the single player games are Pinball, Solitaire, Reversi, and Heart.
These games come with computer and no one need to buy these games.
Even the Hardware and software requirement are very primary. No special
Audio-Video attachment requires to play these games.


LAN Gaming:
              LAN means Local Area Network. This is new form of
gaming. In this type more then one computer connected with each other.
There are several games which can be played with the help of LAN. These
games actually provide a common interface to each computer. It means that
if you are connected to LAN based game then you can see other players
while playing and can be seen by others. You can also see yourself while
playing, in other’s computer. The games which you can play on LAN are
Counter Strike, World of Warcraft, Need for Speed etc. To play these games
one require a good Graphic Card, Mother Board, Chip for better



                                      9
performance, High speed RAM for smooth running, a good amount of free
space on Hard disk. All these are costly.
               In India generally Cyber Café provides these facilities. In
India cyber cafes have more then 10 computers; they see to it that every
computer’s configuration should be well enough to run these games. And
they charge somewhere around 25-30 Rs. for an hour.
               The Newest addition to offline Gaming is Play Stations. Sony
Corp. launched its new version of Gaming Consol in the Indian market early
this year Play Station 3 after successful launch of Play Station and Play
Station 2 launched by Sony Corp. These are the new way to play the Offline
Games. Computer is not requiring while playing the games in Play Station.
Instead of that Television is require to give the output. The processor came
along with Playstaion. Mobile gaming will dominate the market with its
share in the total Indian gaming market (from the developers' perspective)
expected to increase from 53 percent in 2005 to 68 percent by 2009.




Internet
               According to The Internet & Mobile Association of
India i.e. IAMAI the use of internet for gaming purpose is still in
Kindergarten Level. According to them the use of Internet is basically for E-
mail, surfing and downloading the Songs and Movies. They believe that
computer literature in India is growing but the number is still far away when
compared to developed countries. And because of this reason there is less
number of people who is playing games in computer using Internet.




                                      10
80
70                         59      Ever Users (Mn)
      PC Literates (Mn)                                        Active Users (Mn)
60                    53
50             42
40        31                                           32
30                                                                                  21
     16                                          16
20                                      9   12                               11
                                   5                               4    7
10                                                            2
 0
     2000 2001 2003 2004 2006     2000 2001 2003 2004 2006   2000 2001 2003 2004 2006


 Source: I-Cube 2006, Syndicated Research of e-Technology Group@ IMRB, March 2006
“The user base in India is on a fast growth curve having grown 100% in
2006 over 2004. Though in India overall penetration is still low (<5%) the
important factor is that a critical mass of users is shaping up which will fuel
rapid growth over the next 3-4 years. However equally true is the fact that
stickiness of the existing user base has been an issue; Internet category drop-
out rate has been traditionally stable around 25% and thus the total base of
active users (accessed Internet at least once in the last 30 days) was
21million out of the total users base of 32 million (March 2006)” According
to Internet & Mobile Association Of India.


                    Online gaming in India is at a very nascent stage in India. It
has traditionally been associated with mainstream portals like Yahoo! &
MSN. For these, gaming has not been a focus area but merely another
application for engaging users when they are looking for some quick
entertainment. The engagement level of most users has also been low with
infrequent usage and indifferent loyalty.
                    Now all this is changing with the spotlight sharply focused on
online gaming. This has been made possible with the convergence of several
market developments within a short period of time. There have been high


                                            11
profile launches and cases of forward integration with development studios
moving into a consumer facing role. The international market has also
woken up to the potential that India offers with global publishing giants
setting up shops in India
               According to IAMAI “there is a positive outlook in the
industry; this is based on key demographic variables such as the growth in
the Internet base & the contribution of children and youth to the Internet
base. However the industry acknowledges that the supporting infrastructure
is not robust at this point. What is also of concern is that these external
variables are not directly controlled by the online gaming industry; the
industry is therefore dependent on other entities in the ecosystem to a great
extent.”
               According to them Youth is the biggest participant in this
segment since year 2000. School & College going students is using Internet
more frequently then any other segment. They normally do chatting, surfing,
e-mailing, and downloading the data from the Internet. Like their peers in
other countries, Indian youth are also more inclined to adopt technology
faster than other segments but very less of them using Internet as a Gaming
Tool.
                 Various segment of users such as youth, older men,
working & non-working women have evolved a clear preference for
applications on the Internet. Entertainment & Information is the main
application for almost 65% of the younger user groups, whereas
communication is the main activity for 60% of the older age groups.
At the current nascent stage of evolution, online gaming in India will find
willing converts from the younger age group as it readily appeal to them.
This segment of users would lead the first wave of growth. The next phase

                                     12
of growth would be trickier since it would involve initiating non-traditional
segment of uses like women & older men.


      100%   1%           4%                          10%           10%   6%
                                          12%
                  18%          10%                                             8%
                                     6%          4%            3%
       80%
                                                                    22%        22%
                                          21%         25%
                               37%
       60%
                  47%


       40%

                                          61%         61%           65%        64%
                               49%
       20%
                  34%


        0%
               School      College   Young Men   Older Men      Working     Non-
             Going Kids     Going                               Women      working
                           Student                                         Women


         Communication                                Informations/Education
         Entertainment/Relaxation                     Others


        Source: I-Cube 2006, Syndicated Research of e-Technology Group@ IMRB


               The above chart shows us the different use of Internet by the
different segments of users. From there we can see that School going Kids
are using Internet more for Educational purpose. The use of Internet for
Entertainment and Relaxation purpose is also highest in this section. Most of
Young man use Internet for Communication purpose. While the college
going student is also interested in communication, they are also interested in
some kind of entertainment. The remaining users in India prefer only doing
Communication because in India use of Internet is still costly.




                                          13
EXPERTS VIEW on gaming development in India


                      For a lot of people in India, ‘computer games’ and gaming
are still restricted to furtive sessions of Solitaire or FreeCell on the office
computer, a finger hovering nervously over the ‘close program’ button.
There is also a basic mindset that gaming is a waste of time and meant only
for children. Internationally, though, games are something of a social sport,
with online role-playing games that have massive subscriber bases, gaming
tournaments and professional gamers’ leagues.



                              Gaming software is emerging as one of the fastest
                              growing components of the entertainment industry
JAYANT SHARMA of
Milestone says that the       worldwide and it is high time India too cashes in on the
cultural mindset has
prevented the gaming
industry from proliferating
                              opportunity by developing it as a new segment of its
faster in India
                              software industry. India’s software industry has annual
exports of around $6 billion and nearly 20 percent of the global market share
in customized software. However, the country is nowhere when it comes to
games development. India is not even on the radar screen today. It is
estimated that close to 150 million people regularly play computer games
worldwide and around 215 million games were sold in 2001 alone. This
means that every home in the US had more than two games. Therefore,
Sharma feels there is a huge opportunity waiting for India to tap in the
gaming industry.




                                               14
Slow off the blocks

               But apart from the cultural mindset, there are several other
factors that inhibit the emergence of a gaming culture in India. Cost of
technology is one issue. High-end PCs needed to play complex games could
cost between Rs 40,000 to 50,000. In addition, India lacks a game-
development fraternity that could create culturally suitable games. Gaming
parlors and arcades are also largely lacking in this country.

               Gradually, as barriers drop, the situation in India too is likely
to change, Sharma says. Cost of technology is dropping, people here are
becoming more technologically aware, and they also want newer forms of
entertainment. In India, popular games could cover a wide range of
possibilities, from role-playing and adventure to simulation, sports, war
games and “edutainment” that blends learning and playing.

               According to Sharma, international franchises like Tomb
Raider, Unreal Tournament and the Quake series are very popular as are
games built around sporting personalities like Brian Lara (cricket), as well as
film franchises. The popularity of the Lara Croft in Tomb Raider resulted in
the movie doing particularly well in India last year. Nearly all Indian gamers
prefer a more ‘instant gratification’ game play dynamic as compared to a
more stratified, immersive, deep experience. A problem facing computer
gamers in India is that games, especially the more popular ones, are often
imported by multiple distributors, making the prices rather arbitrary. Sharma
agrees that there is a lack of consolidation, “Unfortunately this is still an
unorganized industry and a lot of our ‘competition’ is still doing unofficial
imports. But this is not sustainable, as the products we import tend to be the


                                       15
most attractively priced. Others have to price their products higher since
they are not buying from the publisher in the first place.”

               Milestone has partnered with six of the main global game
developers. These include names like Activision, Codemasters Software,
Eidos Interactive, Infogrames, Novalogic, Ubisoft Entertainment, Sony
Computer Entertainment, Electronic Arts and VBSoft among others.
Consequently, the games included in the Milestone roster are Tomb Raider,
Code Master, Brian Lara Cricket, Novalogic, Rainbow series, part of Red
Storm, which was bought by VBSoft. Other leading gaming vendors in India
include Gayatri Impex, Sujata InfoTech and Padmini Multimedia.

               Recently NASSCOM has studied the Indian Gaming and
Animation Market. They say that India has vast potential market for
Animators and Gamers. The market size of the global animation industry
(from the demand perspective) was estimated at USD 55 billion in 2005. The
industry is expected to witness a CAGR of eight percent and is estimated to
be USD 75 billion by 2009. Of the total animation market, approximately
40- 45 percent goes towards the cost of development. Based on this, the
global animation market (from the developers' perspective) was estimated at
USD 25 billion in 2005, and is expected to increase to USD 35 billion by
2009.
               The size of the Indian animation market (from the developers'
perspective) was estimated at USD 285 million in 2005. It is expected to
witness a CAGR of 35 percent from 2005-2009 and increase to USD 950
million by 2009. Currently, activities at the production stage form a major
portion of outsourcing, with postproduction accounting for a small share.
The share of post-production activities is expected to increase in future. The

                                      16
entertainment sector contributes as much as 68 percent of the total Indian
animation market (from the developers' perspective). In entertainment, the
share of fully animated movies is expected to increase significantly, from 15
percent in 2005 to 28 percent by 2009. Introduction of newer technologies
and platforms has facilitated the growth of the worldwide gaming industry.
The global gaming market (from the demand perspective) was estimated at
USD 19 billion in 2005, and is expected to increase to USD 36 billion by
2009, representing a CAGR of 17 percent for the period 2005-2009.
Developers cost account for around 25-30 percent of revenues. Therefore,
the worldwide gaming market (from the developers' perspective) was
estimated at USD 5.8 billion in 2005 and is expected to increase to USD 11
billion by 2009.
               The market for gaming development in India was estimated at
USD 30 million in 2005. It is expected to witness a CAGR of 78 percent and
reach USD 300 million by 2009. Key services currently outsourced in
gaming include production and testing activities.




                                     17
ISSUES FACING BY INDIAN INTERNET MARKET



Access enablers for Internet

            Another important variable in the online gaming ecosystem is
the point of access. In the Indian Internet space there are two main points of
access, home and cyber café. They are expected to be the most prominent
access points for gaming due to increasing broadband penetration and
emergence of organized café chains in the Internet market. They would
provide for the right gaming infrastructure and platform to ensure the right
gaming experience. The role of other places, offices, schools & colleges is
limited in online gaming due to control & monitoring issues. (Most office
servers routinely block access to all kinds of gaming sites)




             Others                                  Others
                             Cyber                                       Cyber
              35%                                     30%
                           café, 43%                                     Café,
                                                              Home,
                  Home,                                                  39%
                                                               31%
                   22%




      MAIN ACCESS POINTS
      Source: I-Cube 2006, Syndicated Research of e-Technology Group@ IMRB



Home access in India
                High price of PC’s and connectivity constraints the growth of
Internet in a price sensitive market like India, where about 69% non owners
of Internet say that the cost of access from home is a key reason for non
ownership (Source: I-Cube 2006). It limits the adoption of PCs in the Indian
households and that of Broadband in the PC owning households.

                                            18
Home connectivity is still dominated by dialup connections. Broadband
penetration is gradually increasing but will take time to replace the existing
base of dialup connections.



                                   23%

                                                  77%




                           Only Dialup          Only Broadband



                      BREAK-UP OF INTERNET CONNECTIONS
                    Base: 8.1 mn internet connections Source: TRAI, Sep 2006



             The ownership of a Dial Up versus Broadband connection
stands at 77% and 23% respectively. Though Dial-up connectivity is readily
available, but its slow speed; frequent disconnections and high access rates
make it unfit for gaming. The online gaming industry would stand to benefit
from the increasing Broadband awareness and penetration in the next 1-2
years.


Cyber Café in India
               Cyber Cafés are usually the point from where the typical
internet user generally starts his internet journey. Almost 62% of the active
internet users in the top 26 cities access internet from cyber café and 39%
access Internet mainly from cyber café (I Cube 2006).




                                           19
             Cyber cafe have remained the most prominent access points
despite increasing prominence of home access as the overall PC penetration
in households is negligible and availability of high speed Internet connection
in these households is not a common phenomenon.
             Other reasons which drive access from cyber café are limited
need for access; need for privacy while surfing Internet, cyber café
proximity and facilities provided, especially air conditioner in summers
(Source: I-Cube 2006).
             In India, the total market of 1, 40,000 café (I Cube 2006) is
dominated by the unorganized cyber café which account for 97% of the
market. These are typically low investment entities which depend on
multiple revenue streams to sustain their business (PCO’s, Printing etc.). On
an average most of these have revenues between Rs. 20,000-25,000 per
month. Most of these unorganized café have poor infrastructure &
connectivity. Currently, only 14% of the Cyber Café own more than 10 PCs
while in Korea & China a significant proportion of café have more than 75
PC’s per café.



                                                        100%
                                                                   14%          >10 PCs

                            97%
                                                                   52%
                                                         50%
                                                                                6-10 PCs
          3%
                                                                   34%          Less than or equal
                                                                                to 5 PCs
                                                          0%
     Unorganized Café       Organised Café
                                                               In Cyber Caf e




    INTERNET CAFÉ MARKET IN INDIA                  NUMBER OF PC’s INSTALLED IN CAFÉ
      Source: I-Cube 2006, Syndicated Research of e-Technology Group@ IMRB , March 2006




                                             20
              Apart from low number of PC’s, the unorganized market also
has poor infrastructure in terms of processors, graphic & sound cards &
LAN connectivity. All these serve as barriers to a good gaming experience.




                                     21
Suggestion & Recommendation


Changing Scenario
               Cyber café drive the growth of online gaming as they serve
the dual function of often being the first point of access and also a hang out
zone where peers can coach those who are uninitiated into gaming.
               Currently the focus of the organized cyber café chains in
India has not been on online gaming, it has been limited to LAN based
offline gaming. However that is changing. The change has been brought
about by a push from content provider, who are generating interest from
consumer & forcing café to upgrade to meet consumer demand. Gaining
portals are also taking the initiative of developing the market by providing
marketing support to the unorganized market to move into being gaming
zones.
               International experience suggest that as organized café chains
enter the market with better infrastructure, access technology and facilities,
it results in a culture where people spend more time on online gaming.
                When it comes to analyzing the current position of the role
of cyber café in India and compare it with a developed market like South
Korea, it can conclude that India is moving on the path carved by South
Korea where the most population across most café is online gaming. If the
factor conditions remain positive, online gaming in India would also
contribute as much as 75% of the total revenue at a typical café.



               So what games do Indians play? Actually, not many
especially in the online world. According to IAMAI’s research, the size of


                                      22
online gaming market in India stands at a minuscule number of Rs. 21 crore
[11% for advertising, 31% subscriptions and 58% for cafes]!




               A still From World of Warcraft (An Online Playing Game)


               The major factors for driving the growth of Online Gaming
Market in India are:

          Consumer Pull: Increasing size of youth segment, increased,

   Broadband, penetration, increase in mobile gamers etc.

          Game development activities by market incumbents:

   Localized games, organized cyber cafes etc.

Currently, the issues concerning the online gaming market in India are

          Prevalence of anti-gaming culture: Remember IITs banned
            Internet at late hours in the student hostels?
          Low user adoption.
          Poor infrastructure/PC penetration

So, what’s the way out?


                                         23
      11-click phenomena: Site design & navigation will play a key role
       [according to a leading international publisher, when it takes a user
       more than 11 clicks to download and play a game online, it is very
       unlikely that the user will return to that site.]
      Localization of content: Why should one visit an Indian site to play
       ‘Tomb Raider’? I would rather play ‘chacha chaudhary/saabu’
      Demonstrating advertiser value
      Developing & Managing online communities

And the top 5 to-dos are:

      Feeding the hen that lays the golden eggs - i.e. share revenue with
       casual game developers/studios.
      Gaming for education: Increase the adoption by incorporating
       games/multimedia in school syllabus.
      Go deep down the bottom of pyramid too: There is a need to
       recognize the opportunity that lies in the small towns & in rural India
       subsequently.
      Keep it simple: Localization of content has started happening with
       the aim of appealing to a wider audience and games based on local
       themes like snakes and ladders, gulli-danda, etc. are being developed.
       However the aim should also be to bring simplicity in the games that
       are being developed. 3-D and graphics heavy games would appeal to a
       very small section of the Indian market. International experience
       suggests that games with simple themes often get a larger user base.
      Mobile Users- Potential online gamers: Mobile involved gamers have
       the highest probability to be become active online gamers. They



                                         24
      would shift to PC based online gaming for an enhanced gaming
      experience.

To summarize: the Indian online gaming market is in a flux and most are
willing to experiment with various options to grow their user base &
maximize revenue accruals




                                     25

				
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