Market Overview
| Study Period | 2019 - 2030 |
|---|---|
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 4.38 Billion |
| Market Size (2030) | USD 8.74 Billion |
| Growth Rate (2025 - 2030) | 14.80% CAGR |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
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India Gaming Market Analysis by Mordor Intelligence
The India Gaming Market size is estimated at USD 4.38 billion in 2025, and is expected to reach USD 8.74 billion by 2030, at a CAGR of 14.80% during the forecast period (2025-2030).
Underscoring vigorous momentum within the country’s digital entertainment ecosystem. Demand stems from low-cost smartphones, expanding 5G coverage, and frictionless UPI micro-payments that together convert casual users into paying players. Monthly mobile data use of 32 GB per smartphone supports graphics-rich titles, while cloud delivery shortens hardware cycles and lowers entry barriers for first-time gamers. Growing vernacular content, supportive government initiatives, and corporate esports leagues further reinforce engagement and revenue depth. Competitive dynamics sharpen as operators absorb 28% GST on real-money gaming and higher compliance costs, pushing consolidation among scale-seeking studios.
Key Report Takeaways
- By platform, mobile accounted for 55.88% India gaming market share in 2024, whereas cloud/streaming is advancing at a 16.3% CAGR through 2030.
- By revenue model, in-app purchases captured 41.11% of the India gaming market size in 2024; subscription passes are projected to expand at a 15.9% CAGR between 2025-2030.
- By genre, casual and hyper-casual led with 28.48% share of the India gaming market size in 2024, while battle-royale and FPS titles are forecast to grow at a 16.1% CAGR to 2030.
- By demographic, the 15-24 age cohort made up 39.6% of gamers in 2024 of the India gaming market, with female participation growing at a 15.8% CAGR through 2030.
- By geography, South India is poised for the fastest 16.2% CAGR over 2025-2030, overtaking the current revenue lead held by North India in the India gaming market.
India Gaming Market Trends and Insights
Drivers Impact Analysis
| Driver | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Booming smartphone shipments and low-cost data plans | +2.8% | Global, with early gains in tier-2 and tier-3 cities | Medium term (2-4 years) |
| Roll-out of 5G enabling low-latency cloud gaming | +2.1% | Urban centers expanding to rural areas | Long term (≥ 4 years) |
| Surge in vernacular content and locally themed titles | +1.9% | Regional, strongest in Hindi, Tamil, Telugu markets | Short term (≤ 2 years) |
| Government's ONDC and Digital India initiatives | +1.4% | National, with spillover to digital commerce | Medium term (2-4 years) |
| Growth of UPI-based micro-transactions | +1.7% | National, concentrated in mobile gaming | Short term (≤ 2 years) |
| Corporate e-sports leagues driving engagement | +1.2% | Metro cities with expansion potential | Medium term (2-4 years) |
| Source: Mordor Intelligence | |||
Understand The Key Trends Shaping This Market
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Booming smartphone shipments catalyze mobile-first gaming ecosystem
More than 1 billion smartphone users are expected by 2026, and handset prices below USD 100 place capable devices within reach of first-time gamers. Data plans near INR 200 each month remove download friction, prompting 8.45 billion mobile game installs in 2024 alone. Two-thirds of players now reside in tier-2 and tier-3 cities, confirming penetration well beyond metro audiences. Publishers exploit these dynamics by tailoring file sizes below 200 MB and integrating UPI Lite for one-tap payments, which lifts first-purchase conversion rates by double-digit percentages in the India gaming market. [1]CXOtoday News Desk, “India to Have One Billion Smartphone Users by 2026,” cxotoday.com
5G infrastructure unlocks cloud gaming potential
India’s 5G subscriptions rose to 270 million in 2024 and are on course for 980 million by 2030, cutting average latency below 20 milliseconds. Reliance Jio’s Blacknut rollout offers 50+ premium titles without console ownership, proving a viable subscription path for mid-core and AAA content. Real-time esports streams now sustain 1080p resolution at 60 fps on budget phones, narrowing the performance gap with PC rooms. Analysts forecast that India could become the world’s largest cloud-streamed arena by 2033 as fiber backhaul and edge data centers proliferate.
Vernacular content revolution drives cultural renaissance
Hit titles such as Ludo King crossed nearly 1 billion downloads by weaving traditional board mechanics with Hinglish chat, outperforming English-only clones in session length and retention. SuperGaming’s Indus Battle Royale embeds Indo-futuristic motifs, festival events, and region-specific avatars, attracting both domestic sponsors and overseas publishers. Localized interfaces across Hindi, Tamil, and Telugu now cover 80% of addressable gamers, and festival-linked live ops boost holiday spending spikes by up to 30% in the India gaming market.
Government digital infrastructure initiatives accelerate adoption
The National AVGC-XR Task Force and INR 392.85 crore investment in the Indian Institute of Creative Technologies nurture homegrown studios with tax incentives and incubation grants. ONDC pilots open alternative distribution rails that limit app-store fees, while 100% FDI through automatic routes draws capital inflows from Krafton and Nazara. The Create in India Challenge registered over 100,000 developer entries, signaling a deepening talent pool and prototype pipeline. [2]Press Information Bureau, “Govt Reaffirms Commitment to Creative Freedom,” pib.gov.in
Restraints Impact Analysis
| Restraint | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Patchwork state-level real-money gaming bans | -2.3% | State-specific, notably Tamil Nadu, Maharashtra | Short term (≤ 2 years) |
| Rising cyber-fraud and AML compliance cost | -1.8% | National, affecting all operators | Medium term (2-4 years) |
| Talent crunch in AAA game development | -1.5% | Urban development hubs | Long term (≥ 4 years) |
| Stricter age-rating and loot-box regulations ahead | -1.1% | National regulatory framework | Medium term (2-4 years) |
| Source: Mordor Intelligence | |||
Patchwork regulations create fragmentation
Different states apply divergent rules, from Tamil Nadu’s midnight gaming curfew to Maharashtra’s proposed blanket ban on select online titles. Operators must geo-fence, implement Aadhaar verification, and adapt payout logic per jurisdiction, raising fixed compliance costs. The Supreme Court’s pending verdict on betting apps injects additional policy risk that deters venture funding and pushes smaller studios toward mergers. [3]The Hindu, “Madras High Court Upholds Night Ban on Online Real Money Games,” thehindu.com
Rising compliance costs pressure profitability
A 28% GST on deposits rather than gross gaming revenue slashed real-money platform margins, prompting Dream11 to cut FY 2024 profit guidance by 80% even while FY 2023 revenue hit INR 6,384 crore. Google service fees of 15-30% on gaming apps compound the total levy, and AML-driven KYC checks consume up to 20% of operating budgets for mid-sized firms. These twin headwinds accelerate consolidation and favor cash-rich incumbents able to maintain scale economics.
Segment Analysis
By Platform: Mobile momentum supports cloud transition
Mobile captured 55.88% India gaming market share in 2024 and remains the primary on-ramp for new users due to Android handsets under USD 150 and low data tariffs. Annual downloads crossed 8.45 billion in 2024, and the segment’s revenue growth continues at double digits as 5G coverage widens. Entry-level devices now ship with 6 GB RAM, enabling mid-core play without thermal throttling. India's gaming market size for cloud/streaming is projected to surge at a 16.3% CAGR after Jio offered all-you-can-play libraries that negate hardware spending. Console and PC niches grow more modestly yet drive esports infrastructure demand and AAA content localization.
Cloud services boost publisher lifetime value by extending catalog reach to users with older phones that only need a 15 Mbps link, trimming churn relative to download-only titles. Console hardware scarcity eased after parallel imports of Nintendo Switch crossed 500,000 units. PlayStation retains leadership through regional promotions linking cricket stars and first-party exclusives. PC rigs remain favored for development and professional esports scrims, supported by café chains upgrading to RTX-class GPUs.
Note: Segment shares of all individual segments available upon report purchase
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By Revenue Model: Subscriptions challenge IAP dominance
In-app purchases accounted for 41.11% of the India gaming market size in 2024 as UPI micro-payments reduced checkout abandonment. High-engagement genres deploy season passes, limited-time skins, and gacha mechanics that elevate ARPDAU. However, subscription passes post a 15.9% CAGR, bundling 50-plus premium cloud titles for a flat monthly fee that smooths revenue volatility.
Publishers report churn falling under 4% within six months of subscription enrollment. Advertising-supported formats continue but face CPM pressure amid privacy shifts, while premium pay-to-download remains niche due to price sensitivity. GST on deposits compressed margins for real-money operators, with Nazara’s RMG revenue halving year on year.
By Genre: Battle-royale momentum reshapes revenue mix
Casual and hyper-casual titles led the India gaming market share at 28.48% in 2024, propelled by quick session mechanics, family co-play, and viral social loops. The India gaming market size for battle-royale and FPS is projected to grow at a 16.1% CAGR, buoyed by Battlegrounds Mobile India and Garena Free Fire generating half of mobile revenue despite a smaller audience.
Action-adventure games add fresh storytelling angles through Indo-futuristic lore, while real-money card variants sustain steady cash flows within compliant states. Sports games piggyback on cricket, with fantasy contests peaking during IPL seasons.
Note: Segment shares of all individual segments available upon report purchase
Get Detailed Market Forecasts at the Most Granular Levels
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By Demographics: Youth core broadens to new cohorts
Gamers aged 15-24 formed 39.6% of the India gaming market in 2024, averaging 13 weekly play hours and a high purchase propensity. Female participation grows at 15.8% CAGR, now representing 43% of mobile players as social and collaborative designs displace lone-wolf motifs.
The 25-34 band gravitates toward mid-core subscriptions during commute downtime, while ≥35 cohorts explore puzzle and card genres as digital literacy rises. Regulatory proposals for age-rating and parental controls aim to safeguard ≤14 users without stifling engagement. Regional analysis shows northern states skewing to fantasy sports, whereas southern hubs favor esports viewership.
Competitive Landscape
The top ten companies control about 60% of India's gaming market share, granting the sector a moderate concentration profile. Dream11, Nazara Technologies, and Games24x7 dominate fantasy and real-money verticals by leveraging large user funnels and marketing partnerships with cricket franchises. Dream11 posted INR 6,384 crore revenue in FY 2023, confirming scale benefits despite subsequent GST headwinds. Nazara raised INR 855 crore to pursue bolt-on acquisitions in esports broadcasting and gamified early learning. [4]Nazara Technologies, “Q3 FY24 Investor Presentation,” nazaratech.com
Investment momentum persists as Krafton commits unlimited funding for local studios, seeking culturally tuned AAA pipelines. Reliance Jio exploits network ownership to integrate cloud distribution, device bundles, and UPI Lite billing, forming a defensible ecosystem against stand-alone publishers. SuperGaming builds proprietary low-spec engines, widening reach among budget handset owners and securing brand deals for Indus Battle Royale. Web3 entrants such as Kratos Gamer Network use blockchain wallets for player rewards, attracting venture valuations near USD 500 million.
Technology differentiation centers on artificial intelligence for real-time difficulty scaling, anti-fraud, and ad placement optimization. Patent filings around machine learning-driven user matching rose 40% year on year. Compliance with the 2021 Intermediary Guidelines standardizes grievance redressal and content moderation across all operators, raising baseline costs yet promoting trust.
India Gaming Industry Leaders
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Nazara Technologies Ltd.
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Dream Sports (Dream11 Gaming Pvt Ltd.)
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Games24x7 Pvt Ltd.
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MPL Gaming Pvt Ltd.
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JetSynthesys Pvt Ltd.
- *Disclaimer: Major Players sorted in no particular order
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Geography Analysis
North India presently commands the largest revenue share in the India Gaming market, due to higher disposable income and early smartphone uptake in Delhi NCR clusters. Dream11’s fantasy cricket popularity spikes during national tournaments, reinforcing regional monetization heft. Despite that lead, South India is on track for a 16.2% CAGR through 2030 owing to Bengaluru and Hyderabad’s tech ecosystems and widespread English fluency that welcomes global titles. West India, anchored by Mumbai, records the highest average spend per paying user, reflecting mature financial infrastructure and dense media tie-ins.
East and North-East India exhibit under-penetrated potential. Government digital literacy drives and 5G rollout in Assam and Meghalaya promise fresh cohorts, although certain states impose tighter gaming restrictions that temper near-term ARPU. Central India’s tier-2 hubs, representing two-thirds of total gamers, deliver scale economies for vernacular publishers. The India gaming market size is therefore balancing between matured metros and rising hinterland demand. State compliance variance, from Tamil Nadu’s night curfew to Karnataka’s data-localization clauses, obliges operators to tailor technology stacks per jurisdiction. Federal agencies monitor payment flows, adding another oversight layer that platforms integrate through rule-based engines.
Recent Industry Developments
- August 2025: Enforcement Directorate froze INR 284.5 crore assets of Probo Media Technologies in an illegal betting probe, highlighting stricter financial scrutiny.
- August 2025: Torrent Group acquired 67% of the Gujarat Titans IPL franchise, underscoring the convergence between traditional sports and gaming.
- August 2025: GameRamp secured USD 5.4 million for AI-based in-game economies, reflecting demand for revenue optimization tech.
- July 2025: Mayhem Studios, an MPL unit, raised USD 20 million Series A to develop AAA titles and deepen technology stacks.
- June 2025: Jio launched a Blacknut-powered cloud service offering 50 premium titles on 4G/5G networks, marking an infrastructure milestone.
- May 2025: Dream Sports invested USD 50 million in Cricbuzz and Willow TV to broaden its media footprint.
India Gaming Market Report Scope
Gaming is playing electronic games conducted through multiple means, such as using computers, mobile phones, consoles, or other mediums. There is an increasing prevalence of high-speed internet connections, especially in emerging economies, making online gaming practical for more people in recent years. The scope of the research includes mobile, console, and PC browsers and downloaded games. The impact of COVID-19 on the Indian gaming market is included as part of the study and has been considered for future projections as well.
The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
By Platform
| Mobile | Android |
| iOS | |
| Console | Hand-held |
| Home Console | |
| PC | |
| Cloud/Streaming |
By Revenue Model
| In-App Purchase (IAP) |
| Advertising-supported |
| Subscription Pass |
| Premium/Pay-to-Download |
By Genre
| Casual and Hyper-casual |
| Action/Adventure |
| Battle-Royale and FPS |
| Sports and Racing |
| Real-Money Gaming (RMG) |
| Strategy and Card |
By Gamer Demographics
| Age Group | ≤14 years |
| 15-24 years | |
| 25-34 years | |
| ≥35 years | |
| Gender | Male |
| Female |
By Region
| North India |
| South India |
| West India |
| East and North-East India |
| Central India |
| By Platform | Mobile | Android |
| iOS | ||
| Console | Hand-held | |
| Home Console | ||
| PC | ||
| Cloud/Streaming | ||
| By Revenue Model | In-App Purchase (IAP) | |
| Advertising-supported | ||
| Subscription Pass | ||
| Premium/Pay-to-Download | ||
| By Genre | Casual and Hyper-casual | |
| Action/Adventure | ||
| Battle-Royale and FPS | ||
| Sports and Racing | ||
| Real-Money Gaming (RMG) | ||
| Strategy and Card | ||
| By Gamer Demographics | Age Group | ≤14 years |
| 15-24 years | ||
| 25-34 years | ||
| ≥35 years | ||
| Gender | Male | |
| Female | ||
| By Region | North India | |
| South India | ||
| West India | ||
| East and North-East India | ||
| Central India | ||
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Key Questions Answered in the Report
What is the current value of the India gaming market?
It stood at USD 4.38 billion in 2025 and is forecast to hit USD 8.74 billion by 2030.
How fast is cloud gaming growing in India?
Cloud and streaming platforms are projected to expand at a 16.3% CAGR through 2030 as 5G coverage lowers latency.
Which revenue model dominates gaming in India?
In-app purchases lead with 41.11% share, but subscription passes are the fastest-growing at 15.9% CAGR.
Why are vernacular games important?
Local language and culturally themed titles drive higher retention and spending among the 600 million Indians who prefer regional languages.
How does GST affect real-money gaming operators?
The 28% levy on deposits compresses margins and has forced major platforms to lower profit targets despite strong revenue.
Which region is expected to grow the fastest?
South India is projected to register a 16.2% CAGR through 2030 owing to its tech ecosystem and English proficiency.
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