In the early 1990s, video games were exclusively found in urban regions; today, they may be found wherever in India, whether in a major metropolis or a rural town. According to a recent research, the Indian gaming business will treble in the next five years, with non-Metro players driving the growth.
According to Lumikai’s annual State of India Interactive Media and Gaming Report FY24, in a landmark year for India’s gaming industry, the Indian gaming market is anticipated to grow to $9.2 billion (Rs 76,645 crore) by FY29. In FY24, out of the $12.5 billion (Rs 104137 crore) ‘new’ media market, gaming occupies a 30% share, unveiling the gaming sector’s surge to $3.8 billion (Rs 31,657 crore).
By the 2020s, the Indian gaming sector has grown from being almost nonexistent in the 1990s to one of the largest worldwide industries.
The Lumikai’s report, based on extensive primary research covering nearly 3,000 mobile users across India, reveals advancements in crucial metrics across all gaming segments.
Key statistics include:
- Gaming accounted for 30% of the $12.5 billion new media revenue pie (comprising video content, animation/vfx, audio streaming, gaming, and social media) in FY24.
- 591 million active gamers in India, with 23 million new users added in FY24 alone.
- 66% of gamers were from non-metro cities, with 43% of gamers being first-time earners in the 18-30 age group.
- 148 million users make in-game purchases, with 8 million new paying players added in FY24.
- In-app purchases, propelled by mid-core games, grew by 41% year-on-year and continue to be the fastest-growing slice out of the $3.8 billion revenue pie for FY24.
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Source: NDTV
