India to have 2000+ gaming companies, 250K+ jobs by 2025
Indian gaming market, the fastest growing in the world, will cross $10 billion by 2030, according to a report by Kalaari.
The report says that Indians spend a higher proportion of their smartphone time on gaming vs other forms of entertainment, including OTT and music streaming.
Gaming, says the report, is longer exclusive to hardcore gamers. India is expected to produce 2000+ gaming companies and 250K+ jobs by 2025. Esports has seen an enormous level of interest in
India and gaming is fast becoming a viable and preferred career option. The number of Esports players are expected to go
from 200K to over 1.5M by 2025.
India will continue to be a mobile-first gaming market; it currently accounts for the highest share of mobile game downloads globally (15B+). Majority of gamers that start with mobile will evolve to adopt PC & Consoles which currently are aspirational. Serious gaming will fuel E-sports and professional gaming as a career choice
India’s contribution to global gaming revenue to double from 1.5% to 3% by 2025 and 5% by 2030, says the report.
In-app purchases across casual, hyper-casual and midcore segments are growing at a 35-40% CAGR. Average Non-RMG spend will cross $20 by 2025. And in-game advertising revenues will go from $300M to over $1B by 2030.
Social engagement remains the biggest motivator and form of discovery for new games.
There is a strong inclination to play games inspired by Indian culture. Also, 70% of internet users prefer local language. Another finding is that socializing is a core motivation for Indian gamers.
The report also says that Game-Fi will potentially upgrade the entire gaming experience.
Global crypto-currency owners has scaled past 300M mark and more than $6.5B VC investments were made into GameFi startups
Blockchain stacks are under development but the feature
enhancements they provide will enhance user experience and
ownership, which will ultimately lead to the formalisation of the
black & grey gaming market, estimated to be worth over $12B
Total funding in Indian gaming startups has crossed $3B since 2007. Majority of funding has gone into real money and fantasy sports platforms. There has been an uptick in the number of gaming studios that have received VC funding. The increase in funding is cognisant of few marquee exits and greater visibility of monetisation potential.