The online gaming industry across India is expected to be valued at Rs 150 billion in CY2024, compared to Rs 120 billion in 2022, according to the latest data from market research firm Statista. In the past two and a half years, the online gaming industry in India has grown by leaps and bounds and is now considered a serious profession. India, for example, registered about 390 million online gamers in 2021, which is an eight percent growth compared to the previous year. Interestingly, about 95 million gamers reportedly paid to play last year. The total number of gamers is likely to reach more than 450 million by 2023, the report said.
As the total number of smartphone users in India is expected to reach 931.3 million by the end of CY22, the mobile games market across India is expected to account for about 50.5% of the gaming industry. The sector had a market share of about 49% in 2016. Meanwhile, the PC gaming market is also growing thanks to the rise of AAA games and other high-end games. The value of the PC gaming market is expected to be approximately $106 million in CY22, a significant increase from approximately $84 million in CY16.
In the past two and a half years, all kinds of genres of online games have seen a resurgence. From real money to casual gaming, fantasy gaming, esports – all genres seem to have found their share of users and revenue. In the third edition of the India Gaming Summit – we are trying to find the next steps for the gaming industry in India – this includes creating a viable business model, making gaming more accessible and affordable for more people, including women. In addition, it will focus on helping the game developer community build many more news games for a wider audience.
The summit will see names such as Vikram Sahay, Joint Secretary, Ministry of Information and Broadcasting, Government of India; Vinay Thakur, MD, National Center for Informatics, Government of India; Abhishek Ravi, chief information officer, Dream Sports; Arvind Neelakantan, technical evangelist, Epic Games; Kishore Kichili, Senior Vice President, Games and Country Head, Zynga India; Mohit Sureka, founder and CEO of Spiel Studios, among others.
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