Indian Gaming Industry $7.5Billion: Rise of the Gaming World
According to Sandhya Devanathan, the head of Meta India, the Indian gaming sector is projected to reach $7.5 billion and create 250,000 jobs by 2025. She emphasized the importance of the digital economy in achieving this growth, with gaming playing a significant role. Meta recently held its first gaming summit in India, where they launched the ‘Gaming Playbook’ report in collaboration with GWI, highlighting the Indian gaming ecosystem.
What is the size of Indian Gaming Industry and Growth
The Indian online gaming industry has experienced significant growth over the past three years, with a Compound Annual Growth Rate (CAGR) of 28%. In the fiscal year 2023, the gaming market in India reached USD 3.1 billion, with real money gaming (RMG) revenue increasing by USD 500 million.
However, the industry is expected to face challenges in the future due to recent taxation policies and industry consolidation.
The report revealed that India has approximately 146 million RMG players and 202 million non-RMG casual gamers, with a significant portion residing outside major cities.
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Gaming in India has the potential to become an export-oriented sector, leading to further job opportunities. Social media plays a crucial role in influencing gamers’ decisions, with a high percentage of casual and RMG players citing its impact on their game choices.
Arun Srinivas, the director and head of ads business at Meta India, highlighted the importance of advertising in the gaming industry, with over half of casual gamers needing to see an ad multiple times before making a purchase.
Events like Diwali and the Indian Premier League drive traffic to games, while in-game rewards enhance customer loyalty. The report also found that the majority of gamers play two to three different games each month.
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In conclusion, the Indian gaming market is growing rapidly and presents significant opportunities for job creation and economic growth. Indian gaming industry is having potential in building online gaming ecosystem, Digital economy With the right strategies and marketing efforts, the industry has the potential to become a key player in the global gaming market.
