According to a report from the gaming and interactive media venture capital fund Lumikai, India’s gaming market recently reached a value of $2.6 billion. Moreover, the report showed that number is expected to more than triple by 2027, hitting $8.6 billion.
The report provided several other interesting insights regarding the number of gamers in the country. According to the study, India has over 507 million gamers today. Almost 25% of those individuals (roughly 120 million people) are paying users.
On top of that, mobile gaming continues to dominate the Indian market. Based on the report, India was the world’s largest consumer of mobile games during the 2022 fiscal year with over 15 billion downloads.
“India’s gaming industry this year hit major inflection points, registering strong growth across the board,” said Justin Shriram Keeling, the Founding General Partner of Lumikai.” India crossed half a billion gamers in FY22, up from 450 million the year prior. Industry growth is expected to be fuelled by a rapidly increasing gamer base, higher conversion to paid users, and increasing sophistication of Indian gamers. With the market now truly mainstream, we are thrilled to be at the forefront of investing in one of the fastest growing and most dynamic sectors in digital India.”
(All information was provided by Best Media Info)
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