Games - India

  • India
  • Revenue in the Games market is projected to reach US$8,723.00m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.36%, resulting in a projected market volume of US$14,280.00m by 2029.
  • In global comparison, most revenue will be generated in China (US$128.90bn in 2024).
  • In the Games market, the number of users is expected to amount to 328.9m users by 2029.
  • User penetration will be 18.9% in 2024 and is expected to hit 21.9% by 2029.
  • The average revenue per user (ARPU) is expected to amount to US$351.90.

Key regions: Europe, China, India, Japan, United States

 
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Analyst Opinion

The Games market in India has been experiencing significant growth in recent years, driven by a combination of factors such as increasing smartphone penetration, rising disposable incomes, and the growing popularity of online gaming.

Customer preferences:
Indian consumers have shown a strong preference for mobile gaming, with smartphones becoming the primary gaming device for many. This can be attributed to the affordability of smartphones, as well as the convenience and portability they offer. Additionally, Indian gamers are increasingly drawn to multiplayer online games, as they provide opportunities for social interaction and competition with friends and other players.

Trends in the market:
One of the key trends in the Indian Games market is the rise of esports. Esports tournaments and leagues have gained significant popularity in India, with a growing number of professional gamers and teams emerging. This trend is fueled by the increasing availability of high-speed internet connectivity and the rise of streaming platforms, which allow gamers to showcase their skills and attract a large audience. The esports industry in India is expected to continue growing, with more investments pouring in and the emergence of dedicated esports arenas and training facilities. Another trend in the Indian Games market is the growing interest in augmented reality (AR) and virtual reality (VR) games. AR and VR technologies have the potential to revolutionize the gaming experience, providing immersive and interactive gameplay. Indian gamers are increasingly embracing these technologies, as they offer a new level of realism and engagement. The popularity of AR and VR games is expected to increase further as the technology becomes more accessible and affordable.

Local special circumstances:
One of the unique aspects of the Indian Games market is the dominance of mobile gaming. The affordability of smartphones and the availability of affordable data plans have made mobile gaming accessible to a large segment of the population. This has led to the emergence of a vibrant mobile gaming ecosystem, with a wide range of games catering to different genres and preferences. Mobile gaming has also given rise to a new generation of indie game developers, who are creating innovative and localized games that resonate with Indian gamers.

Underlying macroeconomic factors:
The growth of the Games market in India can be attributed to several macroeconomic factors. Firstly, the rapid growth of the Indian economy has led to an increase in disposable incomes, allowing more people to afford gaming devices and spend on gaming experiences. Secondly, the increasing internet penetration in India has provided a strong foundation for the growth of online gaming. With more people gaining access to high-speed internet, online gaming has become more accessible and appealing. Lastly, the young and tech-savvy population in India has been a driving force behind the growth of the Games market. India has one of the largest youth populations in the world, and this demographic is highly engaged with gaming and technology. In conclusion, the Games market in India is experiencing robust growth, driven by factors such as the popularity of mobile gaming, the rise of esports, the adoption of AR and VR technologies, and the underlying macroeconomic factors. With the continued expansion of smartphone penetration, the growth of esports and AR/VR gaming, and the increasing disposable incomes, the Indian Games market is expected to continue its upward trajectory in the coming years.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Games market, which is divided into Physically Sold Video Games and Digital Video Games. Physically Sold Video Games comprises revenues associated with in-person purchases of video games in retail stores. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.

Overview

  • Revenue
  • Analyst Opinion
  • Users
  • Demographics
  • Key Players
  • Global Comparison
  • Methodology
  • Key Market Indicators
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