India’s Gaming Market: Unprecedented Growth and Strategic Investments
The India’s Gaming Market is experiencing a remarkable surge, driven by technological advancements, increased smartphone penetration, and a burgeoning youth demographic. In 2023, the market was valued at approximately $1.54 billion and is projected to reach nearly $8.92 billion by 2030, exhibiting a robust compound annual growth rate (CAGR) of 28.5% from 2024 to 2030.
Market Dynamics
The proliferation of affordable internet access and a tech-savvy population have been pivotal in propelling the gaming sector forward. The number of gaming studios in India has witnessed exponential growth, escalating from 15 in 2009 to 275 in 2022. This expansion has not only diversified game genres but also attracted a broader player base, fostering innovation and entrepreneurship within the industry.
Impact of the Metaverse
The advent of the metaverse—a virtual realm offering interactive experiences—is poised to revolutionize India’s gaming landscape. By integrating virtual and augmented reality, the metaverse enhances player immersion, introduces innovative revenue streams such as play-to-earn models, and expands accessibility through cloud gaming. This evolution presents Indian developers with unprecedented opportunities to collaborate and create novel game genres, thereby enriching the gaming ecosystem.
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Recent Mergers and Acquisitions
The Indian gaming market has witnessed significant mergers and acquisitions, reflecting a trend towards consolidation and strategic expansion:
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Nazara Technologies, a leading gaming and esports company, announced in December 2024 that its subsidiary, Nodwin Gaming, would acquire a 92.30% stake in AFK Gaming, an esports media firm, for approximately ₹7.58 crore. This acquisition aims to bolster Nazara’s presence in the esports media segment.
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Krafton, the South Korean gaming giant known for titles like Battlegrounds Mobile India, revealed plans in November 2024 to invest over $200 million in India. The company is actively pursuing the acquisition of two to three Indian firms, encompassing both gaming companies and social or digital media platforms, to enhance its footprint in the Indian market.
by Type
Casual Games
Real Money Games
Online Fantasy Sports
E-Sports
Others
Depending on the Type of Game Casual games are predicted to have the biggest revenue share of the market over the projected period and dominated the game type segment in 2022. Throughout the projection period, Real Money Games are anticipated to expand at a noteworthy compound annual growth rate (CAGR) of 5.6%. By 2030, the number of users is predicted to rise from 433 million to 657 million, a more than 50% increase. Online fantasy sports, where players create fantasy teams and win money based on points earned; e-sports, which are professional gaming competitions where players compete for prize money; and casual games, where players play to kill time; and real-money games, where players wager real money in online games.
by Category
Action
Shooter
Role-Playing
Sports
Others
With the largest share of 25% in 2023, the Action sector led the Indian gaming market by category. At the conclusion of the forecast period, the sector is anticipated to continue to dominate the market and grow at a compound annual growth rate (CAGR) of 6.8%. With a variety of subgenres like first-person shooter, battle royale, and hack-and-slash, action games captivate thrill-seekers with their heart-pounding adrenaline. Games like Call of Duty Mobile and PUBG Mobile, which are tailored for mobile devices in India, are popular among sports fans. Social aspects that improve player experiences and community building include leaderboards and multiplayer. PUBG Mobile, Call of Duty Mobile, Free Fire, Apex Legends Mobile, and the Grand Theft Auto series are among the most popular games.
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Learn about the top players driving innovation in the Market :
1. Hyperlink InfoSystem
2. Sony Corporation
3. Unanimous Studios
4. Nintendo
5. Scientific Games
6. Microsoft Corporation
7. Griptonite Games
8. HData Systems
9. GSN Games
10.Nimblechapps
11.Rolocule
12.Nautilus Mobile
13.Electronic Arts
14.Timuz
15.Nazara Technologies
16.Spartan Group
17.Zensar Technologies
18.White Widget
19.TCS
20.Fgfactory
21.Scand
22.HData Systems
23.Dream 11
24.99 Games25.
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