The video game sector in India is booming. Forecasts suggest that it will surpass the market value of Bollywood by 2029. Find out which games are particularly popular and how sustainable this growth is.
The gaming market in India is experiencing rapid growth. According to a recent analysis by Lumikai, an Indian venture capital company, the market is expected to grow by 20% annually until 2029. As a result, the market valuation, which currently stands at around 3.8 billion US dollars, could rise to an impressive 9.2 billion US dollars.
This is thanks in large part to India's demographics, with around half of the population under the age of 25. Accordingly, the focus on digital entertainment is now much more significant.
For context, back in 2019, only around 451 million people in India were enthusiastic about gaming. However, this figure rose sharply to over829 million users in 2021.
Mobile gaming leads the surge
Mobile games in particular are booming, with India being the second-largest country in the world for mobile game downloads. And now, almost all online major mobile games arrange special events that coincide with Indian festivals such as Holi, Diwali and Eid.
Smartphones are also becoming more affordable in India, so many young Indians can afford a smartphone with gaming options. The number of smartphone users increased by over 84% between 2017 and 2022.
Lumikai's data also shows changing gaming habits. Gamers in India, especially those between the ages of 18 and 30, have increased their weekly gaming time by around 30% in recent years.
Neerja Sekhar, Special Secretary, @MIB_India experienced the thrill of playing 'Indus Battle Royale', a flagship game by Pune-based SuperGaming. The gaming industry is gearing up for rapid growth driven by technological advancements. #CreateInIndiaChallenge #WAVES #WAVES2025 pic.twitter.com/pQ21NwS70G
— PIB in Uttarakhand (@PIBDehradun) November 8, 2024
Indian gaming studios also emerging
With the rise in gamers, India is also creating more games themselves. Initially, Lumikai counted only around 25 major Indian gaming companies, but today there are over 2,300 that are considered important market players.
Aditya Deshpande, senior analyst at Lumikai, believes that the Indian gaming and gambling market could soon overtake Bollywood. Although Lumikai, as an Indian venture capital company, knows the domestic market particularly well, external sources also confirm that the sector will grow exceptionally in the coming years.
How do you regard the development of video games in India, and the Indian dev scene? Do you think Indian games will soon be played on Western devices? Let us know in the comments!