India’s game market is set to experience significant growth, with projections indicating a rise from $3.8 billion in 2024 to $9.2 billion by 2029, as per a report by Lumikai.
Key Statistics
The report reveals that out of the total 591 million gamers in India, female gamers have increased from 41% to 44%. Additionally, there were over eight million new paying users added in fiscal year 2024, bringing the total paying gamers to 148 million.
Indian gamers have shown a 30% increase in average weekly gaming time, reaching 13 hours, which is double the time spent on social platforms. The average revenue per paying user stands at $22, reflecting a 15% increase from the previous year.
Furthermore, in-app purchases, driven by mid-core games, saw a 41% year-on-year growth, making it the fastest-growing segment of the $3.8 billion revenue for fiscal year 2024.
It is noted that 64% of paying users who engage in real-money gambling also pay for mid-core games, indicating a significant overlap in gamer preferences and personas.
India ranks as the world’s second-largest mobile gaming market in terms of downloads, with 15.2 billion downloads, three times higher than Brazil and the U.S. Additionally, 25% of gamers reported spending money on games in the current year, with 83% preferring UPI or digital wallets for in-game transactions.
The mid-core gaming market in India is showing considerable strength, with a 20% increase in time spent on casual games during fiscal year 2024. Users are allocating 25% more time to interactive social media and streaming platforms compared to passive social platforms.
Regarding mobile platforms, Android dominates the Indian market with about 90% share, with smartphones costing between $200 to $400. Most gaming activities take place on smartphones, while PC and console games represent a smaller percentage of the market.
Although esports revenues remain a small portion of the overall market, there is a notable uptrend in viewership, indicating a growing interest in this segment.
Methodology
The report is based on primary research involving nearly 3,000 mobile users across India, developed in collaboration with Google and Deloitte. Lumikai’s analysis incorporates data from third-party analytics providers, secondary research, proprietary data, surveys, and expert interviews, with a focus on subscription, in-app purchases, and ad revenues within the gaming sector.
It is emphasized that a comprehensive understanding of both urban and rural markets, as well as gender demographics, has been a key aspect of the research.
Lumikai’s Growth
Lumikai has provided support to several prominent interactive media companies in India, including Elo Elo, Bombay Play, All Star Games, Studio Sirah, Supernova, Autovrse, Vobble, and Mayhem Studios, among others.
Of particular interest is the Mayhem Studios game, which focuses on a battle royale experience set in an Indian context. This trend of culturally relevant games tailored for specific regions is on the rise, reflecting the preferences of players.
Entrepreneurs in the gaming industry are emerging from work-for-hire backgrounds, leveraging India’s cost advantages for development. This shift has led to the creation of independent game studios and a surge in Indian diaspora founders returning to build new gaming ventures in their home country.
The smartphone revolution has played a significant role in reshaping gaming preferences, with a large portion of the population consuming significant amounts of mobile data daily due to affordable data rates.
Lumikai Insignia
