Indian gaming market to hit $5 billion by 2025
Growth of Gaming Industry In India
India’s gaming market is set to hit $5 billion by 2025, according to a recent report by the IndiaTech.org, a not-for-profit organization representing India’s consumer internet startups. The report highlights the immense growth potential of the gaming industry in India, which has been fueled by the country’s increasing internet penetration, rising disposable incomes, and the growing popularity of mobile gaming.
Stats of online gaming activity
The gaming industry in India has already seen significant growth in recent years. In 2020, the Indian gaming market was estimated to be worth $2.2 billion, according to a report by KPMG. This figure is expected to double by 2023, as the pandemic-induced lockdowns led to a surge in online gaming activities.
Growth in recent years
The IndiaTech.org report predicts that the gaming market will continue to grow at a rapid pace, reaching $5 billion by 2025. This growth is expected to be driven by the increasing number of smartphone users in the country, which is expected to cross 820 million by 2022. The report also notes that the growth of the gaming industry is not limited to just metropolitan cities, as the demand for online gaming is increasing in tier 2 and tier 3 cities as well.
The report further highlights that the Indian gaming market has a unique mix of local and global players. While global gaming companies such as Tencent, Activision Blizzard, and Electronic Arts have a strong presence in India, there are also a large number of homegrown gaming companies that have been successful in the market. These companies include Nazara Technologies, Dream11, and Mobile Premier League (MPL), which have all raised significant funding in recent years.
Growth of gaming industry in India
The report suggests that the Indian government’s recent initiatives to support the gaming industry, such as the launch of the National esports Championship and the formation of a dedicated gaming division under the Ministry of Information and Broadcasting, will further boost the growth of the gaming industry in India.
In conclusion, the gaming industry in India is poised for significant growth in the coming years, with the market expected to reach $5 billion by 2025. The increasing penetration of smartphones, rising disposable incomes, and the growing popularity of online gaming are all contributing factors to this growth. With a unique mix of local and global players, the Indian gaming industry is well-positioned to capitalize on this opportunity and become a major player in the global gaming market