BW Gaming World
A recent report, “India Gaming Report 2024 – Robust Fundamentals To Power Continued Growth,” highlights the continued surge of India’s mobile gaming industry. The report reveals India’s dominance in the mobile gaming sector, surpassing the combined downloads of the United States and Brazil.
In addition, this dominance translates to a substantial 16 per cent share of the global market.
Additionally, this growth is attributed to a rapidly expanding user base. In 2023, India witnessed 568 million gamers, fuelled by factors like affordable smartphones, rising internet penetration and a growing appetite for data consumption.
The report further emphasises the potential of the Indian gaming industry. By 2028, the annual revenue for gaming is projected to reach USD 6 billion, with the number of paying gamers reaching 240 million. This growth is likely fuelled by a rise in in-app purchases, projected to grow at a Compound Annual Growth Rate (CAGR) of 35 per cent.
Further, India boasts over 1400 gaming companies, including 500 gaming studios, and a workforce of 15,000 game developers and programmers. The significant rise in the number of Indian gaming companies, from a mere 25 in 2015 to over 900 in 2023, indicates a strong domestic ecosystem fostering innovation and job creation.
Experts believe India’s gaming industry is poised for further expansion. Lokesh Suji, Director, Esports Federation of India (ESFI) and Vice President of the Asian Esports Federation (AESF), suggests exploring this potential with stakeholders.
Similarly, Animesh Agarwal, Founder and CEO of 8bit Creatives, a leading Esports consulting and talent agency, highlights the vast talent pool and creator base in India.
Ashwin Haryani, Country Head, Ampverse, Asia’s largest ecosystem of gaming communities and IPs, emphasises the importance of nurturing talent and building a robust ecosystem.
In addition, Esports, the competitive gaming sector, is another area witnessing a boom. The report highlights a surge in professional gamers, with the number increasing from 100 in 2019 to 500 in 2023. This growth is expected to continue, driven by government recognition of esports and initiatives to develop talent.
With its growing user base, skilled workforce and government support, India’s mobile gaming market is well-positioned for continued growth in the coming years.
