0. Professional Graphic Design in Indie Games?
1. what goes into the branding processes while making games? Id assume most [indie] studios use Their own in house art team.
2. I am Curious to know if a Graphic designer would be of any use in the game industry.
3.a. Graphic Design in games would be used for logos, banners, websites, custom fonts, app icons and any kind of branding really.
3.b. Graphic Designers can also be very artistic and work on game assets.
4. Basicly, is the branding made within the art team of a[n indie] company or is the use of a 3rd party industry needed?
5. would Indie Game development benefit via the efforts of a professional graphic artist on there team?
0. Your subject line asks about indie games, but then you don't mention indies much in the body of your post. It's unclear, therefore, if you're really asking only about indie games, or if you are at all interested in graphic design in the mainstream game industry. I'm responding based on the assumption you're only asking about indie dev.
2. Indie studios who self-publish may use their usual art team to create their marketing graphics. If, however, a studio has money, then they might go for a contract graphic designer.
3.a. You are correct.
3.b. It's possible, but not likely.
4. Answered in #2 above.
5. It could, if the company has money and is doing a lot of marketing to support its ongoing live service game.
I gather that you are asking this because you want to go solo, and offer your professional services on an independent basis to indie studios after graduation? That's a hard road. You should get professional experience for a couple years before you hang out your own shingle. Check out the Business/Law forum -- someone just recently posted a rant about how hard it is to make money as a raw freelancer.
http://www.gamedev.net/topic/667622-game-development-and-commercial-success-not-a-single-was-earned-that-day/
