News Desk
India has cemented its position as the largest gaming market globally, boasting an impressive user base of 568 million gamers and over 9.5 billion gaming app downloads in 2023. With a burgeoning youth population, advancing IT infrastructure, and widespread access to mobile devices and high-speed internet, India has emerged as a key player in the global gaming industry.
The growth trajectory of India’s gaming market is nothing short of remarkable. Estimated at USD 3.49 billion in 2024, the market is projected to soar to USD 7.24 billion by 2029, exhibiting a robust CAGR of 15.68% during this period. Forecasts suggest that by 2027, the market will further expand to USD 1.581 billion.
Several factors are propelling this exponential growth. India’s substantial youth demographic forms a critical part of the gaming ecosystem, while the proliferation of smartphones and high-speed internet connectivity fuels market expansion. The integration of Web3 technologies such as virtual reality (VR), augmented reality (AR), and the metaverse into video games is gaining momentum, with approximately 30% of Web3 businesses in India dedicated to gaming. Notably, investments totaling USD 400 million have been injected into Web3 games in recent years. Additionally, government initiatives like “Digital India” are fostering innovation in the online gaming sector by promoting game creation and development.
The financial figures speak volumes about India’s ascent in the gaming realm. Revenue across all gaming platforms is projected to surge to $868 million in 2023, boasting a five-year compound annual growth rate (CAGR) of 17.2%. By 2027, this figure is expected to skyrocket to $1.6 billion. Likewise, the number of gamers in India across all platforms is forecast to reach 444 million in 2023, marking a notable 12.1% year-on-year increase.
In essence, India’s gaming landscape is teeming with vitality, dynamism, and boundless potential. Whether it’s casual mobile games, esports, or cutting-edge technologies, the Indian gaming community is leaving an indelible mark on the global stage!
