The Indian mobile gaming sector is going to witness $1.5 billion of revenue in 2020 to $5 billion by 2025, according to a report by VC firm Sequoia and a management consulting company
The Indian gaming sector which is worth $1.8-billion in global terms is growing faster than social media on the back of mobile-first games according to a report by Boston Consulting Group and Sequoia on India’s mobile gaming sector.
There are presently a total of 300 million gamers in India and income across all gaming gadgets came to $1.8 billion out of 2020, up 500 per cent from 2016. In the years 2019-2020, the gaming market as a whole witnessed a compound annual growth rate (CAGR) of 38 per cent and 37 per cent in the previous fiscal.
Meanwhile, talking about the growth of the Indian social media market, it grew by 11 per cent in 2019-20 and 26 per cent the previous fiscal.
The Indian mobile gaming sector is going to witness $1.5 billion of revenue in 2020 to $5 billion by 2025, according to a report by VC firm Sequoia and a management consulting company.
India’s gaming market is as yet little in outright numbers, be that as it may, containing only 1 per cent of the worldwide market. The United States (US) gaming market is worth more than $40 billion, or 23 per cent of the worldwide market.
Talking about China’s market, it is worth more than $45 billion or 26 per cent of the worldwide market. As would be normal from greater business sectors, their development rates are moderately unobtrusive, with China timing a CAGR of 8 per cent from 2017 to 2020 and the US gaming market developing at 10 per cent CAGR over this period.
However, the report also mentioned that mobile gaming already comprises 86 per cent of India’s gaming market, however, there is still scope for growth.
In 2020, only 46 per cent of Indians were connected to the Internet, as compared with China (60 per cent) and the United States (89 per cent).
Meanwhile, in 2020, only 22 per cent of the Indian population had played at least one mobile game, compared with China (45 per cent) and the United States (52 per cent).