India’s Gaming Revolution: Powering ahead in Asia’s fastest-growing market – India has undeniably seized the prestigious title of the fastest-growing video game market in all of Asia. The country’s ascent in this realm is a testament to its rapidly evolving tech ecosystem, where factors like increasing internet penetration, surging smartphone adoption, and appetite for gaming in young population.
This remarkable growth is driven by a staggering 343% increase in gamers between 2017 and the projected figure for 2027, resulting in an astonishing 641.2 million gamers.
India’s Gaming Revolution: Powering ahead in Asia’s fastest-growing market
Simultaneously, the gaming industry’s revenue is poised for substantial year-on-year growth, expected to reach $868 million in 2023. This surge is primarily attributed to factors such as rising disposable income, widespread internet connectivity, and the accessibility of budget-friendly smartphones.
However, the insights mentioned here only scratch the surface of the gaming phenomenon unfolding in India. The comprehensive 2023 Niko Partners India Games Market report provides a more in-depth look into this burgeoning landscape.
The return of BGMI and Free Fire have played pivotal roles in India’s gaming renaissance. These titles have not only captured the hearts of millions of gamers but have also been instrumental in rekindling the country’s enthusiasm for gaming.
Key findings from the report include the projection of India’s video game revenue across all platforms reaching $868 million in 2023, reflecting an impressive five-year compound annual growth rate (CAGR) of 17.2%. Additionally, an estimated 444 million gamers in India across all platforms in 2023 signify a substantial 12.1% year-on-year increase.
Furthermore, India’s status as a predominantly mobile-first gaming market, with nearly 97% of gamers favouring smartphones and tablets, underscores the significance of mobile gaming in the country.
Moreover, the report predicts that around 31% of gamers in 2023 will invest in video games, contributing to an annual Average Revenue Per Paying User (ARPPU) of $6.38.
In totality, India’s gaming sector is not only on an explosive growth trajectory but also offers substantial potential and opportunities. This is for both established players and newcomers looking to participate in this dynamic and thriving market.