The online gaming industry is all set to enter into the golden era as a recent announcement from the government to recognize eSports under a multi-sport event. But bringing innovative and affordable products for gamers will be key for the further growth of eSports in India.
Growth Opportunities
The gaming market is gaining huge traction due to the emergence of various platforms in India for required exposure. Taking about the latest trends in gaming market, Sanjoy Bhattacharya, Director Sales & Marketing, IT Business, ViewSonic India gave more information on this and said, “The online gaming market is estimated to generate a revenue of Rs 11900 crore by the year 2023 according to a media report owing to the rise in demand for this industry in the Indian markets. Additionally, the India esports market is expected to exhibit a CAGR of 21.1% during 2023-2028. The evolution in the sector is attributed to the technological advancements, willingness to invest in the sector and the increase in number of professional gamers.”
He added, “Furthermore, the certification like Blur Buster 2.0, higher refresh rates, faster IPS panel and others, have only added to the growth in the market. Companies are readily investing in R&D and newer models to meet the current high demands and consumer expectations.”
Strategies to Accelerate Growth
Talking about the strategies to keep the business growth high, Sanjoy commented, “As pointed out above, the increase in number of professional gamers and online gaming tournaments and communities; the industry is looking forward to a positive environment where companies are ready to invest and meet customer satisfaction. The technological advancements will play a crucial role as the certifications and features added to various gaming setups like monitors, keyboards, hard drives and others are made to give a seamless gaming experience. Blur Buster 2.0, higher refresh rate, faster IPC panels and a lot more is ins tore for the gaming community. There are multiple factors currently affecting the growth and sales of the tech industry. However, narrowing it down to the critical two:
1. Owing to the global economic recession in western countries, the volatility of the global exchange rate and a sharp increase in petroleum prices due to the Russia-Ukraine war, the demand for display monitors has significantly declined. Adding to the factor, the experts predict the panel makers to cut down production to save investment.”
2. Furthermore, the recent rise in the Covid-19 cases in China will also hugely affect the supply of panels (TN and VA both). This in term will lead to a higher demand and less supply scenario resulting in higher prices for the monitors. Though IPS panels are expected to have a stable demand chain with a little higher production cost.”
Message for Channel Partners
Sharing a message for channel partners to motivate and encourage them for creating more revenue, Sanjoy said, “ViewSonic as a brand is all set to take the lead in the gaming sector. We as a brand believe in providing the best of features and technology to all our consumers and with our wide portfolios of products, certifications like Blur Buster 2.0, higher refresh rates, faster IPS panels, AMD FreeSync and ithers, we are leading the market with significant numbers. We will also be introducing new product line-up in the market soon that will surely help us to maintain the lead as well as meet customer demands. With the aim of taking gaming to another level, we globally launched a portable gaming monitor VX1755.”
