Recently, Lumikai Venture Capital Fund disclosed that the Indian gaming industry will demonstrate strong growth, second only to the video and desktop media markets.
Since 2020, the number of gaming companies in India has surged from 25 to over 2300. Currently, the Indian gaming market is valued at approximately $3.8 billion, with projections to reach $9.2 billion by 2029, with both mobile gaming and esports showing rapid development.
India now has 591 million gamers, with female gamers increasing from 41% to 44%. In the fiscal year 2024, more than 8 million new paying users are expected, bringing the total number of paying gamers to 148 million.
The average weekly gaming time for Indian gamers has increased by 30%, reaching 13 hours. About 66% of gamers come from non-urban areas.
Lumikai predicts that the annual compound growth rate of the Indian gaming industry will reach 20%. Additionally, India's esports industry is also rapidly expanding, with the market size expected to reach 11 billion rupees by 2025.
Mobile gaming holds a dominant position in the Indian market, and the local esports industry is also rapidly expanding. These factors together are driving the rapid growth of the Indian gaming industry, making it likely to surpass the value of Bollywood in the coming years.
