India Online Gaming Market
India Online Gaming Market Size More Than Doubles Touch USD 2.31 Billion by 2029
Published | 18 August 2023
India online gaming market is flourishing because of the further deepening of smart gaming devices, an increasing focus on game development and innovations, government initiatives supporting the digital gaming industry, and pandemic-induced boost in online gaming activities.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India online gaming market size at USD 1.09 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects India online gaming market size to grow at a significant CAGR of 13.34% reaching a value of USD 2.31 billion by 2029. Major growth drivers for the India online gaming market include an increasing internet penetration, smartphone adoption, and a tech-savvy young population have fueled the demand for online gaming platforms, including mobile, PC, and console games. Esports has emerged as a thriving segment, positioning India as a competitive player globally. The industry has witnessed a shift towards game development, inspired by the Prime Minister's vision for a "Digital India." The Central Government's efforts, including the establishment of the Inter-Ministerial Task Force (IMTF) to recommend national-level regulations, have further supported the sector's growth. The gaming industry has been hailed as the "next sunrise industry," with a growing female audience contributing to its expansion. Affordable mobile data has accelerated internet usage, making gaming the fastest-growing industry. Also, the COVID-19 pandemic prompted a shift from desktop to laptop computing, especially among service-oriented and public sector organizations. However, increasing cases of addiction and legal and regulatory complexities are anticipated to restrain the overall market growth during the period in analysis.
India Online Gaming Market – Overview
India online gaming market refers to the sector within India's entertainment and gaming industry that involves the online distribution and consumption of various interactive games and related content. It encompasses a wide range of gaming formats, including mobile games, PC games, console games, and online multiplayer games. India is expected to be among the leading markets for the gaming industry, mainly due to its sizable youth population. The country's market growth is driven by the increasing use of smartphones and high-speed internet, which has facilitated the growth of its IT infrastructure. Also, WEB3, an advanced version of the internet integrating decentralization, VR, AR, and the metaverse, has gained popularity in the gaming sector. According to an industry estimate, approximately 30% of India's 450 WEB3 businesses are engaged in gaming, with investments of about USD 400 billion in Web3 games in recent years. This indicates the rapid development and immense potential of the gaming industry in India.
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Impact of COVID-19 on India Online Gaming Market
COVID-19 pandemic had a positive impact on the India online gaming market. With lockdowns and movement restrictions in place, people turned to online entertainment, including gaming, for leisure and social interaction. This led to a surge in the number of active players and an increase in gaming revenues. Online gaming platforms witnessed higher user engagement and longer session times during the pandemic. Additionally, the closure of physical entertainment venues and the cancellation of live events drove the demand for virtual gaming experiences. The pandemic accelerated the adoption of online gaming as a preferred form of entertainment, transforming the industry and opening new opportunities for growth and innovation.
India Online Gaming Market
Segmental Information
India Online Gaming Market – By Device
By device, the India online gaming market is divided into Mobile/ Tablet, Console, and PC/ Laptop segments. The mobile/tablet segment holds the highest share in the India online gaming market during the forecast period. The widespread adoption of smartphones and tablets, driven by their availability and affordability, has made mobile gaming accessible to a larger audience. Additionally, the convenience and portability offered by mobile devices have attracted users who prefer gaming on the go. The increasing internet penetration in the country has further facilitated online gaming on mobile devices. Moreover, the diverse offerings of mobile games, including casual, multiplayer, and esports, cater to different preferences and demographics, appealing to a wide range of users. Social features integrated into mobile games encourage interaction with friends and foster a sense of community, adding to the segment's popularity. These combined factors have propelled the mobile/tablet segment to the forefront of the India online gaming market.
Competitive Landscape
Major players operating in the India online gaming market include Dream11, Mobile Premier League (MPL), Games24x7, Gametion, Games2win, Octro, Moonfrog, Reliance games, Gameberry, Blacklight Gaming, JetSynthesys, and Nazara Technologies. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India Online Gaming Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Online Gaming Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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Publish Date: August 2023
An increasing adoption of devices and rising surge due to the pandemic are projected to propel the expansion of the India Online Gaming Market during the forecast period between 2023 and 2029.
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