October 15, 2022
The gaming market has become the fastest-growing and one of the biggest sector in the Indian entertainment industry. In recent times, India has set records in the global gaming market. It has become a mobile-focused gaming market with about 433 million out of 846 million internet users playing online games. As a result, 35% of the populace became online gamers in 2021. Currently,India ranks among the top five mobile gaming markets in the globe.
Indian gaming companies are using major developments to improve the gaming experience. For instance, better internet connections and digital facilities have accelerated the growth of online games in India.
Some other factors that have aided the market growth are an increased youthful populace, useful web information, and the introduction of new and popular game titles. Availability of smartphones, popular headlines, intrusion of influencers and the compelling global epidemic (the Covid-19 pandemic) are contributing factors as well. Also, the need for virtual entertainment with family and friends triggered the growth of the Indian gaming industry.
According to a report by KPMG, the total number of online gamers increased by 8%, from 360 million in 2020 to 390 million in 2021. The number of gamers is expected to exceed 450 million by 2023. The growth of the Indian gaming market has been steady over the past five years and is expected to reach $3.9 billion by 2025. The gaming market in India has really exploded over time.
Different research done by Inc42 reveals that the revenue of the Indian gaming market in 2019 was $68million. In 2020, the industry generated about $79billion in revenue and is estimated to increase by 18% CAGR which is over $182billion by 2025. The report also shows that the internet will experience an explosive growth of over a billion users in India by 2023 while online gamers will grow from 481 million in 2022 to 657 million by 2025.
The growth of the gaming market is not only measured by the number of players but also by investments in the industry. Fundraising in the Indian gaming industry has grown by 383% in 2021 from $360 million in 2020 to $1.7 billion. Seventy-six online gaming startups were fully funded. Between the years 2014 to 2022, $2.9billion was raised. Gaming platforms receive the largest amount of venture capital.
Furthermore, Sensor Tower’s report shows that the Indian market is the number one global game downloader . It is the country with the highest monthly downloaded games in the world. Surprisingly, the United States comes second on the list while Brazil ranks third. While at the top, the download rate in India is around 16%.
This year, Rakuten Insight conducted a survey to know the average time players spend on an online gaming session. It gathered that the majority of gamers spend one to two hours on each game session. On the contrary, 3% spend more than five hours per gaming session. This is quite impressive as it places India among the top countries in the gaming Industry.
The Indian gaming market has increased drastically having more than 275 game companies and over 15,000 game developers. The market is divided into casual games, RMG games, fantasy games and e-sports. Some of these games include; Clash of Clans, Subway Surfers, Ludo King, Andar Bahar, and Candy Crush Soda Saga, among others.
The rapid growth experienced is further enhanced by the increased number of international game developers in the Indian market. These developers use local languages in their games to make the experience native to Indians. For example, Andar Bahar real cash games are available in Hindi and other Indian languages.
India’s robust I.T sector has played a vital role in the growth of the gaming market. This is due to its constant evolution and the introduction of new technologies like; Cloud gaming, AR, VR, and Blockchain. All these technologies are being used in games, taking the experience of gamers to the next level.
The country has the potential to capture 5% of the global market share in the Animation, Visual Effects, Games and Comics (AVGC) industry by 2025, with an annual growth rate of 25-30% and generating thousands of jobs each year. Companies compete with each other to maintain market share and dominance by constantly launching and promoting games.
Excitedly, the country is becoming a talent hub and investment ground for international firms. The monetization of games is already worth a huge income and is speeding up. The Indian gaming market is attracting significant interest from investors around the world.
No doubt, various opportunities abound in the Indian gaming market as new platforms and companies emerge daily. As these new companies and innovations are introduced, almost everyone can see that the number of gamers will continue to increase with them.