The value of the Indian gaming industry is currently 1.8 billion, which, despite being dwarfed by various other countries, is growing rapidly. According to Boston Consulting Group and Sequoia, mobile-first games facilitate this rapid growth.
According to the report, the Indian gaming market grew at a compound annual growth rate (CAGR) of 38 per cent in 2019-2020 and 37 per cent in the previous financial year. It has been said that at present more than 300 million people in the country play mobile games. Looking at the numbers, we can say that the gaming industry is growing faster than social media in India, as the country’s social media market grew by 11 percent in 2019-20 and 26 percent in the previous fiscal.
The size of the Indian mobile gaming industry is estimated at $ 1.5 billion, which is about 86 percent of the total gaming market. By comparison, the Chinese mobile gaming market accounts for only 59 percent of its total gaming market, and the U.S. mobile gaming market stands at only 28 percent.
The report further states that Indian mobile gaming revenue is expected to reach at least $ 5 billion by 2025.
The Indian gaming industry has seen a major push in recent years due to the rise of smartphones, internet access, popular headlines, influential and global epidemics. The report highlights how the Indian market is emerging as an investment opportunity and a talent hub for the world. In addition, the industry is seeing great interest from investors, with gaming startups raising 549 billion in the first quarter of 2021. In that sense, gaming startups raised just 412 billion in 2020 and just $ 34 million in 2016.
Although investors are showing huge interest, the Indian gaming market is currently small, comprising only 1 percent of the global market. On the other hand, the US gaming market is valued at more than $ 40 billion or 23 percent of the world market, and China is valued at more than $ 45 billion (26 percent).
Although Indian mobile gaming already accounts for 86 per cent of India’s gaming market, the report says there is still plenty of room for expansion.
The post Indian mobile gaming market to reach at least $ 5 billion by 2025: report first published in BGR India