Ahmedabad-based blockchain and artificial intelligence (AI) solutions provider, Yudiz Solutions Limited said it will strengthen its position in the gamification solutions for applications in corporate workplaces and industry uses.

The company eyes non-game environment targeted to improve employee performance and customer engagement with deployment of gamification solutions in corporate use.

Yudiz currently gets about 40 per cent of its reported revenues of ₹18.76 crore (March 2022) from gaming that also involves other technical tools such as AI, Blockchain, virtual reality among others.

“We believe that the Indian gaming market will grow from $3 billion to $5 billion by 2025. And we expect to increase the share of games in our total revenues to 60 per cent,” said Bharat Patel, Chairman, Yudiz Solutions.

Emerging area

“In the next two years, we also plan to open a gaming studio,” said Patel adding that the company plans to hit the capital markets with a public issue in the SME segment of NSE Emerge platform in June 2023. The company has filed draft papers for what is to be India’s first blockchain and AI company to make it to the Dalal Street and only second after Nazara Technologies in the pure-play gaming space.

As per the DRHP, the company “is pursuing to enter in the new business segment by opening a gaming studio and launching its own gaming platform. Earlier, the company was offering its services in gaming software development for its clients only. However, now the company is having a new goal to target by launching a gaming platform for end users directly.”

Patel informed that Gamification was an emerging area with its core idea to increase the level of audience engagement, and achieve specific objectives or goals.

The company informed that the factors that drive gamification revenue include the growing importance of employee rewards and recognition program in the workplace, as well as increasing focus on digital marketing to retain customers and improve customer engagement. By 2030, the annual spending on gamification globally is estimated to reach $76 billion, it said. It also quoted estimates by a gamification marketing company, Gamify, that the global spending on gamification will increase by a CAGR of 27 per cent during 2020-25 period to reach $31 billion.

India’s gaming market size is estimated to be around $2.6 billion in FY22, and it is predicted to reach $8.6 billion by FY27. The number of gamers are growing at a CAGR of 12 per cent to 507 million in FY22 from 450 million in FY21.

Patel also mentioned that Indian characters from mythology and their design make them a promising bet for developers. The Google Play store has 17,211 games published by Indian distributors.

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