The Indian gaming market has been growing rapidly in recent years. The highly affordable smartphones and impressive internet penetration made the rise of online gaming in India quite inevitable.
The growth of the Indian online gaming industry is so fast that even the recent GST imposition only made a little dent in its growth speed.
In this blog, we will show you how big the Indian online gaming market is and how the rise of online games affects the Indian gaming landscape.
Let’s dig in.
The Rise of Indian Online Gaming Industry
The Indian gaming market has experienced a huge surge in various online games and in-game content. Many of these games even focus on catering cultural preferences and sensitivities of the population, making those games an instant hit.
The game developers, market experts, publishers, and many other stakeholders also played crucial roles in creating a solid ecosystem for online games to flourish in the Indian market.
This brought a huge change in the Indian gaming culture. One such change is the popularity of eSports. There are hundreds of millions of online gamers in India, which gave birth to countless professional gaming teams.
So, many gaming companies are organizing multiple gaming tournaments, events, and leagues all over the country. The number of total Indian participants has only increased over the years.
Many even participated in international gaming tournaments to propel their pro gaming career, which was very rare in India before the recent surge in online games’ popularity.
What’s more—the popularity of various multiplayer games created a sense of community between millions of Indian gamers. It created many vibrant gaming communities across the country, which are growing at an unimaginable pace.
Such popularity of online gaming allowed many investors and game developers to introduce AR and VR tech to India. And it only made the gaming experience of the Indians richer.
The Paid Games Dominating the Indian Online Gaming Market
Although multiplayer and RPG games are certainly popular, it’s the real money games that are dominating the Indian gaming market these days. And they’re dominating the market both in terms of player spending and the number of gamers.
Hundreds of millions of Indian players access Daman game, Winzo, Rummy, MPL, or other online game platforms to play cards, lottery, dice, and other fantasy sports.
The sheer amount of player spending on these gaming platforms crossed $150 million in India. If we take the advertisement revenue into account, this number can easily surpass $450 million.
Some Key Statistics Related to the Indian Online Gaming Market
Here are some of the key metrics of the Indian gaming market you need to know about:
Total Market Size in 2023: $3.1 billion
The number of Indian online gamers in March 2024: 450 million
Total number of gamers that spend money on the games: 115 million
Every 1 out of 5 mobile game downloads come from the Indian gamers
Average time spent every week in online gaming: 3.1 hours
Total number of Indian game developers: 18K+
Total fund raised by the Indian gaming companies in 2022: $3 billion
Needless to say, the numbers that we have mentioned above are growing with every passing day. In fact, India ranked second in 2023 in terms of number of gamers in one country. And most of its gamer population is still young.
With its impressive growth rate, experts expect the Indian gaming market to grow up to $7.5 billion by the end of 2028.
Conclusion
As you can see, thе Indian gaming industry is rapidly expanding and driven by a 20% average annual growth rate since 2018. Key factors includе tеch advancеmеnts and the rise of online games and substantial investments in the sector. As the market size continues to grow significantly, it’s clear that the momеntum isn’t slowing down. What are your thoughts on India’s booming gaming market? Sharе bеlow!
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