India Gaming Market Size

Gaming in India Market Analysis

The India Gaming Market size is estimated at USD 3.49 billion in 2024, and is expected to reach USD 7.24 billion by 2029, growing at a CAGR of 15.68% during the forecast period (2024-2029).

India is predicted to rank among the top market locations for the gaming industry due to having one of the most significant youth populations in the world. The growing IT infrastructure, driven by the rising use of smartphones and high-speed internet, is one of the major factors driving the market growth rate in the country.

• WEB3, a new version of the internet that integrates ideas like decentralization, VR, AR, and the metaverse, has become a more frequently used technology in video games. According to the survey of NDTV Profit, at least 30% of the 450 Web3 businesses in India are engaged in the gaming industry. The research shows USD 400 million for Web3 games in India in recent years.
• There has been a significant shift in the gaming industry in India, with a lot more focus on game development. In November last year, the Prime Minister inspired developers and innovators to take the lead in the online gaming industry by promoting his vision for a "Digital India." Since then, the Central Government has taken continuous measures to influence the trajectory of online gaming to conform to this objective. This sector requires the leadership of a nodal ministry. To offer recommendations for universal, national-level legislation to regulate online gaming, the federal government established the Inter-Ministerial Task Force (IMTF), which comprises representatives from various ministries. It has also been mandated by another group of ministers (GoM) to present the suggested tax structure and the regulatory framework for the online gaming sector.
• In the previous year, according to CNBC news, Sunil Chemmankotil, CEO of Teamlease Digital, stated that the gaming business is the "next sunrise industry," citing the sector's expanding user base and the potential it will present. As the female audience grows, more women will work in the game industry, particularly in leadership roles.
• Moreover, according to The Economic Times, India has affordable mobile data worldwide. The average cost of a gigabyte (GB) in India is USD 0.26, compared to USD 6.66 in the United Kingdom and USD 12.37 in the United States for the same data. It has led to increased internet usage, as 46% of the nation today regularly uses the internet, owning gaming as the fastest-growing industry in India.
• The COVID-19 epidemic is forcing businesses to switch from desktop to laptop computing. A senior manager of Client Solutions Group, Dell Technologies, India, states that specific industries and organizations that are more service-oriented and in the public sector are where this movement in adopting desktop computers to notebook PCs is more noticeable.