As someone who has been following the Indian gaming scene for quite some time now, I must say that I am thoroughly impressed by the rapid growth it is experiencing! The statistics speak for themselves – with a market valuation expected to double by 2029 and over 829 million gamers in 2021 alone, this is a trend that cannot be ignored.
The gaming industry in India is on a significant upswing, projected to expand by approximately 20% every year until 2029, as suggested by Lumikai, a venture capital firm based in India. This projected growth could potentially boost the market’s current value of roughly 3.8 billion US dollars to an impressive 9.2 billion US dollars.
A major factor for this is India’s unique demographic structure, where about half the population is under 25 years old. Consequently, there’s a growing emphasis on digital forms of entertainment.
As a passionate gamer myself, I remember that back in 2019, roughly 451 million of us in India found joy in gaming. But fast forward to 2021, and the number has skyrocketed to an incredible 829 million fellow gamers! What a fantastic growth in our community!
Mobile gaming leads the surge
Mobile gaming is experiencing a surge, with India ranking as the second most active nation worldwide in terms of mobile game downloads. Nowadays, many prominent online mobile games organize unique events corresponding to popular Indian celebrations like Holi, Diwali, and Eid.
Due to the decreasing cost of smartphones, an increasing number of young Indians now have access to these devices, which offer gaming features. Between 2017 and 2022, the user base experienced a significant surge of more than 84%.
Lumikai’s findings indicate a shift in gaming patterns. Younger gamers in India, particularly those aged 18 to 30, have significantly boosted their weekly gaming hours by approximately 30% over the past few years.
Neerja Sekhar, a Special Secretary at MIB_India, recently enjoyed the excitement of playing ‘Indus Battle Royale’, an innovative game developed by Pune-based SuperGaming. The gaming sector is preparing for significant expansion due to technological breakthroughs. #CreateInIndiaChallenge #WAVES #WAVES2025 (translated: Neerja Sekhar, a Special Secretary at MIB_India, recently had fun playing ‘Indus Battle Royale’, a popular game created by Pune-based SuperGaming. The gaming world is getting ready for accelerated growth thanks to technological progress.)
— PIB in Uttarakhand (@PIBDehradun) November 8, 2024
Indian gaming studios also emerging
As the number of video game enthusiasts grows, so does the number of Indian game developers. From just a handful of notable gaming companies like Lumikai, the landscape has expanded to include more than 2,300 significant market players today.
Aditya Deshpande, a senior analyst at Lumikai, predicts that the Indian gaming and gambling industry could become even more prominent than Bollywood in the near future. This prediction is supported by both Lumikai’s intimate understanding of the domestic market and external evidence pointing to extraordinary growth for this sector over the coming years.
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2024-11-11 15:09