Indian gaming market set to double in 5 years, projected to reach Rs 76,000 crore

66% gamers from non-metro cities: Report

A new report highlights that the Indian gaming market is set to double in the next five years, with non-metro gamers leading the charge. According to the annual market intelligence report from Lumikai, 66% of gamers in India come from non-metro cities, and 43% of them are first-time earners in the 18-30 age group.

The report was unveiled at Lumikai Insignia, India’s premier interactive media and gaming summit, held in Delhi on November 11, 2024. The summit brought together industry leaders, investors, and developers to discuss the latest trends and future opportunities in the gaming sector.

Lumikai’s “State of India Interactive Media and Gaming Report FY24” forecasts the Indian gaming market will reach $9.2 billion (Rs 76,645 crore) by FY29. In FY24, gaming accounted for 30% of the $12.5 billion (Rs 104,137 crore) “new” media market, which includes video content, animation/vfx, audio streaming, gaming, and social media. The gaming sector’s revenue in FY24 stands at $3.8 billion (Rs 31,657 crore), marking a significant surge.

The report, based on primary research covering nearly 3,000 mobile users across India, reveals several key findings. Gaming accounts for 30% of the new media revenue in FY24. India now has 591 million active gamers, with 23 million new users joining in FY24. Notably, 66% of gamers come from non-metro cities, and 43% of these gamers are first-time earners in the 18-30 age group. Additionally, 148 million users are making in-game purchases, with 8 million new paying players added in FY24. In-app purchases, driven by mid-core games, saw a 41% year-on-year growth, making it the fastest-growing segment of the gaming revenue in FY24.

MT