India Gaming Market: Global Industry Analysis And Forecast(2022-2029)

India Gaming Market was valued at USD 1.2 Billion in 2021, and it is expected to reach USD 11.46 Billion by 2029, exhibiting a CAGR of 28.5 % during the forecast period (2022-2029)
India Gaming Market Overview:
Video gaming in India is an expanding business since the country is witnessing rapid development in online gaming, making it one of the world's top gaming marketplaces. Growing younger population, increased disposable income, low-cost internet connectivity, introduction of new gaming genres, and an increase in smartphone and tablet users are some of the factors driving the sector's growth. The Indian gaming business has grown from near-nil in the 1990s to one of the top markets in the late 2010s during the last few decades. India's young online gaming business saw extraordinary growth, propelling it into the world's top five mobile gaming markets. More than 7.4 billion mobile game downloads are expected by the third quarter of 2020. In India, over half of internet users played online games, and by 2021, around 35% of the population will be online gamers.



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With 130 million users, India has the largest fantasy sports market. According to a KPMG report, India currently has over 400 gaming firms and 420 million online gamers, ranking second only to China. For two years in a row, India's proportion of new paying users (NPUs) in gaming has been the fastest rising in the world, at 40% (2020) and expected to reach 50% in 2021. Between Jan-Sep 2021, USD 1.6 billion were received in funding and M&A, with Real Money Games attracting USD 700 million. Moreover, India has produced 3 gaming unicorns, Game 24X7, Dream11 and Mobile Premier League.

Research Methodology

In India Gaming Market report, main approach used to calculate accurate market size is bottom-up market sizing approach, where macro and micro view of all the potential customers, revenue and current market is considered as a whole. The research is also conducted by considering micro level segment that can be realistically targeted and calculated, which results in better forecasting and more accurate data on amore granular level. In the report, PESTLE identifies factors like political, economic, sociocultural, technological, legal, and environmental, that may affect an organization and its competitive standing. Porter examines competition, new entrants in the market, supplier power, buyer power, and the threats of the substitute products and services in the market.

In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities, and challenges faced by the industry. The report comprises various segments as well as an analysis of the trends and factors that are playing a substantial role in the market. The secondary research carried out at primary level is verified by primary research. A secondary research is conducted to identify the segment specifications, qualitative and quantitative data along with the factors responsible for the growth of the market. The secondary source referred for the research are press releases, company annual reports, government websites, and research papers related to market.
India Gaming Market Dynamics
Increase in Players & Studios Across India: In comparison to other Asian nations such as China and South Korea, video game production in India remains undeveloped. However, the increasing number of players in India has piqued the interest of worldwide video game businesses. As foreign video game businesses increase their investments, more global game developers, such as Ubisoft and Microsoft Games, have opened operations in India. Local Indian gaming studios are also expanding. In India, there are about 500 game studios. From 2009 to 2021, India increased from 15 to 275 game production studios. In India, there are around 600,000 e-sports players and 100,000 e-sports teams. With the increased availability of triple-A title (first-tier) games such as PUBG and Fortnite, Indians are becoming more acquainted with more complex games. With over 50 million active users each month, India contributed for 25% of PUBG downloads. Over 100 million people downloaded Indian games such as Ludo King, Dream 11, and MPL.



New-Age Advanced Technologies: The sector is changing as a result of the increased deployment of modern technology, software, cloud technology, and the internet for the global convergence of games and movies. 3D designs, VR/AR, AI, and other technological developments are progressively gaining traction. Online games are constantly evolving and are increasingly being used to monitor and gather information about customer participation. As technology advances, players will be able to find more realistic and colourful recreations on displays. AR is being utilised to change the way people play mobile phone games. It provides real-life side effects, such as the music you hear while playing or the images you see, and is mostly responsible for modifying the whole gaming experience. Systems may now construct your doppelgänger and recreate the same emotions and sentiments using technologies such as 3D scanning technology. Thus, the India Gaming market's exponential expansion is playing a critical role in quickly expanding the breadth of the entire gaming culture.

Metaverse is the future of Gaming Industry: Companies are developing metaverse initiatives to harness leading technologies like as 3D reconstruction, augmented reality, virtual reality, IoT, AI, and others as the technology's popularity and demand grows by the day. Characters in metaverse games are controlled by users' unique avatars, which are virtual representations of actual identities. Players can even feel a tangible sensation of touch by wearing haptic gloves and jackets. Gamers may also invite their social media connections, communicate with other Metaverse players, and collaborate to enjoy the games together. The unique and very engaging platform has sparked interest among gamers and, without a question, has a bright future in the online gaming business. The Spartan Group, for example, has become the first Indian online gaming firm to enter the metaverse by integrating cutting-edge technologies like 3D reconstruction, virtual reality, and blockchain to give clients with a more realistic experience. The 'Spartan-verse' is a virtual hall of fame that will honour Indian gaming industry heroes. Spartan Group's marketing and customer experience tactics already include NFTs and Phygital incentives. The Metaverse is expected to permanently alter the gaming landscape, and Spartan-verse will serve as a platform for people to advertise, compete, earn, and stand strong together in the virtual future.

Popularity of Real-Money Online Gaming: With the rise of online real cash games such as online rummy games and poker games, players may now earn large cash incentives and awards from the comfort of their own homes. We would agree that the real-money gaming segment is currently booming and gaining substantial vigour with each passing day of digital adoption. Cryptocurrency is used in play-to-earn games. If you make money while playing these games, you may transfer it to a bitcoin wallet or use it to purchase in-game things. Non-fungible tokens (NFTs) can also be purchased and utilised in some situations as in-game cash. As a result of this scenario, several new mobile games, such as fantasy sports and quiz games, have emerged, which are rapidly boosting the cash gaming business by embracing digitalization.

Blockchain Technology Innovation in Gaming: The use of blockchain innovation has increased in recent years, owing to the need for another framework that can replace the problems that present in the existing paper money system with something wholly new and progressive. Blockchain isn't only about money; it has a wide range of applications, with gaming being one of the most important. Blockchain innovation is expected to have an influence on how games are created, maintained, and played in the future. A blockchain is a chain of information blocks on a computer network that is transparent to all users and cannot be altered. This suggests that the game is not owned and controlled by a central authority, but rather by the players, who have advanced assets and game goods. As a result, blockchain is particularly successful at strengthening data security.

Smartphone penetration & Affordable internet: With a smartphone penetration rate of 36.7%, India has 502.2 million smartphone users. India's smartphone shipments climbed by 23% year on year to over 38 million handsets in the first quarter of 2021. Shipments in the first quarter were at an all-time high. With the introduction of more gaming-friendly devices and higher processing capabilities, the use of smartphones has increased. For example, in the previous five years, the RAM in mobile smartphones has risen three to four times. Internet connectivity is incredibly inexpensive in India, with 1 GB of mobile data costing USD 0.26 vs the global average of USD 8.53. This has resulted in extensive internet use among people, with roughly 46% of the country actively using the internet. In India, the average monthly mobile data usage stands at 14.6 gigabytes (GB) compared to 11 GB in the US.



Bans on Online Wagering Games: As the sector attracts attention to itself owing to its rapid expansion, a series of court rulings have maintained online gaming as a legal company. Recently, the High Court in Karnataka, India's startup capital, issued its judgement lifting the blanket prohibition on online gambling, strengthening the gaming industry's trust in the Indian legal system. The Karnataka government issued the rule prohibiting betting and gambling in online games in October of last year. Previously, high courts in Kerala and Madras have overturned similar prohibitions imposed by their respective state governments. This decision has plainly demonstrated that blanket bans are inefficient methods of dealing with any perceived concerns. While these positive judgments have been celebrated by the industry and millions of gamers, the reasons leading to blanket bans are yet unaddressed.

However, this thriving business of internet gambling suffers from a lack of governmental control. The regulatory regime's ambiguity is a difficulty for investors and a major compliance cost for game operators. To reach its full potential, maximise income, and become a worldwide leader, India's e-gaming business need strong legislative frameworks and digital infrastructure. A government organisation is necessary to monitor operations, design progressive regulations to avert social concerns, classify games of skill or chance, assure consumer protection, and combat illegality and criminality. Gaming businesses should also continue to collaborate with the government to promote responsible gaming by educating players and adopting best practises such as KYC checks, user authentication, and so on to avoid criminal activity and financial transactions on their platforms.

Growing Piracy in Indian Gaming: India has the most pirated games globally. Prior to India's gaming industry boom, mainstream video game companies did not consider India to be a serious market. Because multinational game firms had limited authority in India, pirated, secondhand, and knock-off cartridge games proliferated. Because of the low cost and lack of access to original games, the ordinary customer mostly played pirated games. However, since PC and console gaming have grown in popularity in India, and games on those platforms cannot be pirated, piracy rates have been progressively declining. Many consumers now prefer original games since they have access to software upgrades and many game modes. However, a spike in piracy may impede India's gaming industry growth throughout the anticipated year.
India Gaming Market Segment Analysis
Based on Game Type, the India Gaming market is segmented into Casual Games, Real Money Games, Online Fantasy Sports, E-Sports, Others. Casual Games dominated the game type segment in 2021 and is estimated to hold the largest revenue share of the market during the forecast period. Real Money Games are expected to grow at a significant CAGR of XX % during the forecast period. The user base is expected to increase by more than 50% by 2025, from 433 million to 657 million. Casual games, in which players play to pass the time; real-money games, in which players wager real money in online games; online fantasy sports, in which players build fantasy teams and win money based on points earned; and e-sports, which is professional gaming, in which players compete for prize money. This category expansion might be attributed to the increased quantity of mobile apps and inexpensive smartphones catering to Indians' gaming requirements.



Based on End-User, the India Gaming market is segmented into Male and Female. Male segment dominated the end-user segment in 2021. However, female segment is expected to grow at a significant CAGR of XX % during the forecast period. The engagement of women is one of the most intriguing aspects of the gaming industry's success story. Although the idea that the business is male-dominated is true to some extent, the growing presence of women in gaming is promising. According to a recent research, women made up more than 43% of the Indian smartphone gaming community. According to the survey, gaming is popular among women of all ages. This is a positive indicator since it shows that all women now have equal access to opportunities regardless of age, location, or marital status. While there are many female gamers that play for fun, there are also some big names in the professional gaming world. ShaguftaXyaa Iqbal, Monika Sherlock Jeph, Saloni Panwar, and Pooja Khatri are among of the most well-known professional female gamers. These ladies are well-known not just in India, but also in the global gaming business. Saloni Panwar became India's first female representative in an international e-sports competition in Thailand.

Scope of the Report

The objective of the report is to present a comprehensive analysis of the India Gaming Market to the stakeholders in the industry. The past and current status of the industry with the forecasted India Gaming market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the India Gaming Market dynamic, structure by analyzing the market segments and projecting the India Gaming Market size. Clear representation of competitive analysis of key players by segment type and regional presence in the India Gaming Market make the report investor’s guide.
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India Gaming Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US 1.2 Bn.


Forecast Period 2022 to 2029 CAGR:
28.5 %
Market Size in 2029:
US 11.46 Bn.


 Segments Covered:
by Game Genre
• Action
• Shooter
• Role-Playing
• Sports
• Others


by Game Type
• Casual Games
• Real Money Games
• Online Fantasy Sports
• E-Sports
• Others


by Device Type
• Tablet
• PC/MMO
• TV/Console
• Mobile Phone


by End-User
• Male
• Female



India Gaming Market Key Players
• Hyperlink InfoSystem
• Sony Corporation
• Unanimous Studios
• Nintendo
• Scientific Games
• Microsoft Corporation
• Griptonite Games
• HData Systems
• GSN Games
• Nimblechapps
• Rolocule
• Nautilus Mobile
• Electronic Arts
• Timuz
• Nazara Technologies
• Spartan Group
• Zensar Technologies
• White Widget
• TCS
• Fgfactory
• Scand
• HData Systems
• Dream 11
• 99 Games

Frequently Asked Questions:

1] What segments are covered in the India Gaming Market report?
Ans. The segments covered in the India Gaming Market report are based on Game Genre, Game Type, Device Type, and End-User.

2] What is the market size of the India Gaming Market by 2029?
Ans. The market size of the India Gaming Market by 2029 is expected to reach USD 11.46 Bn.

3] What is the forecast period for the India Gaming Market?
Ans. The forecast period for the India Gaming Market is 2021-2029.

4] What was the market size of the India Gaming Market in 2021?
Ans. The market size of the India Gaming Market in 2021 was valued at USD 1.2 Bn.