With revenue of $5 bn by 2027, gaming industry at an inflexion point: Varun Ganjoo

The first half of the year 2023 has been a rollercoaster ride, with an accelerated adoption of generative AI, AI chatbots, and digital innovations. This is bringing in new operational efficiencies, stronger strategies, a far greater emphasis on building deep bonds with various stakeholders and consumers. In keeping with the current market ecosystem, technology and a human approach are seen as going hand in hand.

Adgully’s TRENDING NOW series has been presenting important insights from key industry leaders, who highlight the major trends and developments that they see dominating the industry in the current times.

In conversation with Adgully, Varun Ganjoo, CMO & Co-Founder, Baazi Games, speaks about key trends dominating the gaming industry this year, how brands are elevating their offerings, the introduction of Self-Regulatory Bodies, and more.

Key trends dominating gaming industry in 2023

Online gaming is a sunrise sector that is already growing at a CAGR of 28-30% in India. Currently, all brands are trying to grab eyeballs for user attention and brand recall through various marketing initiatives and campaigns. In an era where everything is digital, the kind of experience that brands are providing becomes very critical and that experience has to be 360 and not just related to gaming. The overall touch points of the brands need to be seen.

Also, owing to the increasing penetration of smartphones and 5G deployment in the country, I firmly believe that the next set of growth in online gaming will be witnessed in Tier 2 and Tier 3 cities. And this is something that was reflected in the participant profiles of the National Poker Series 2023 as well. We recorded significant participation from non-metros like Kolhapur, Nautanwa, Jabalpur, Ranchi, Darbhanga, Katihar and Chamba, among others.

Another aspect that I believe will dominate this industry is educating players constantly on responsible gaming. And now with government intervention, the conversation around responsible gaming will get more loud and clear. The introduction of self-regulating organisations will help reiterate and govern that real money gaming platforms are skill first and not based on chance.

Major expectations

With projected revenue of $5 billion by 2027, the gaming industry is sitting at an inflexion point. Understanding the potential and the projected growth, I believe now is the time for brands to elevate their offerings and extend seamless solutions that are backed by technology and laden with safety features. While this is something that we at Baazi Games actively do, we are also at the forefront of launching interesting tournaments to reiterate how online games like Poker are similar to any traditional sport that requires skill and perseverance.

In terms of major expectations from the sector in the coming year, I believe a lot is about to change for the online gaming/ RMG industry with the introduction of Self-Regulatory Bodies. We are happy to see the progress going towards a positive direction for the industry and we are very positive that the whole narrative of the industry is about to change very soon, making us one of the most thriving and celebrated sectors in India.

Having said that, we will continue to work towards building a safe and secure gaming ecosystem in India that will make online gaming safer than ever before.

Key focus areas for Baazi Games in 2023

So far, 2023 has been a marquee year for the brand. The first quarter saw the launch of PokerBaazi 3.0 (Our major annual tech and product update that made all the difference), which extended a more immersive and elevated user experience. This was followed by the announcement of the National Poker Series India, which saw an overwhelming response in terms of both participation and recognition from the users. I believe that we have built momentum for the year and are now focusing on maintaining and bolstering it further.

Our clear focus is to keep offering the biggest tournaments in the country and to give a product experience which is the best not just in India, but globally.