The online gaming industry across India is expected to be valued at Rs 150 billion in CY2024, compared to Rs 120 billion in 2022, according to the latest data by market research firm, Statista. In the last two and a half years, the online gaming industry has grown by leaps and bounds in India, with now it being considered a serious profession. Case in point, India recorded about 390 million online gamers in 2021, thereby clocking an eight percent growth from the previous year. Interestingly, about 95 million gamers reportedly paid to play last year. The total number of gamers is likely to reach over 450 million by 2023, stated the report.
With the total number of smartphone users in India expected to reach 931.3 million by end of CY22, the mobile gaming market across India is projected to account for about 50.5% of the gaming industry. The sector had a market share of around 49% in 2016. Meanwhile, the PC gaming market is also been growing thanks to the rise of AAA games and other advanced games. The value of the PC gaming market is projected to reach about $106 million in CY22, marking a significant increase from about $84 million in CY16.
In the last two and half years, all kinds of genres of online games have seen an uptick. From real money to casual gaming, fantasy gaming, Esports – all genres seem to have found their share of users as well as revenue. In the third edition of the India Gaming Summit – we try to find out the next steps ahead for the gaming industry in India – this includes creating a viable business model, taking gaming to more people including women and making it more accessible and affordable. Additionally, it will focus on helping the gaming developer community build many more news games for a broader audience.
The Summit will see names such as Vikram Sahay, Joint Secretary, Ministry of Information and Broadcasting, Government of India; Vinay Thakur, MD, National Informatics Centre, Government of India; Abhishek Ravi, chief information officer, Dream Sports; Arvind Neelakantan, tech evangelist, Epic Games; Kishore Kichili, senior vice president, Games and country head, Zynga India; Mohit Sureka, founder and CEO, Spiel Studios, among others.