India’s Gaming Market To Be Bigger Than Bollywood by 2029

As a seasoned gamer with a rich background of gaming experiences across various cultures and continents, I’ve witnessed the evolution of the gaming industry like a spectator watching a thrilling match unfold. However, nothing quite compares to the electrifying growth story that India is scripting in this digital arena.

According to a recent report by Lumikai, it’s anticipated that the gaming industry in India will experience significant growth over the next decade. This projection suggests a Compound Annual Growth Rate (CAGR) of 20% from now until 2029. As a result, the market value could escalate from its current $3.8 billion to a staggering $9.2 billion by 2029.

It was noted that gaming is India’s ‘fastest-growing new media segment’ behind video and OTT media.

To The Future

As a gamer hailing from India, I’m part of an incredible gaming community of approximately 591 million strong. It’s interesting to note that roughly 44% – 66% of us are male players. In this nation, mobile games reign supreme, and it’s no secret that we Indians are the second-largest consumers of mobile games globally, according to Lumikai. This explains why popular titles like Battlegrounds Mobile India (BGMI), Call of Duty Mobile, and Free Fire have found such success here.

Over the past few years, it’s become apparent that Indian gamers, particularly those aged 18 to 30, have significantly increased their weekly gaming hours by approximately 30%. Furthermore, there’s been a swift growth in the local esports scene, with an increasing number of competitive gamers emerging across India.

In 2020, Lumikai, a data gathering company, found only 25 significant gaming businesses operating in India. However, recent data shows over 2,300 potential gaming companies (or ‘leads’) within the country. Aditya Deshpande, a senior associate at Lumikai, predicts that the gaming industry’s growth could outpace Bollywood‘s value in the near future.

It’s important to note that Lumikai is a venture capital company primarily invested in the Indian market, and it has been forecasted by outside entities that it could experience comparable growth.

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