India's gaming market, particularly the mobile gaming sector, is poised for an extraordinary surge, with projections indicating that the industry's annual revenue will nearly double, reaching an impressive $6 billion by 2028, up from $3.1 billion in 2023. This forecast comes from a comprehensive joint report by the Interactive Entertainment and Innovation Council and the online gaming firm Winzo.
Rapid Expansion and Gamer Demographics
The report, titled "India Gaming Report 2024," anticipates a significant rise in the number of paying gamers, expected to escalate to 240 million by 2028 from the current 144 million in 2023. This growth is reflective of an expanding gaming ecosystem comprising over 1,400 companies and 500 studios dedicated to gaming development.
With the government's recognition of esports and various initiatives at the state level to nurture talent, the professional gaming scene in India is set to expand 2.5 times within the next five years. India's global footprint in the gaming downloads market has also seen remarkable growth, accounting for 16% of worldwide game downloads in 2023, a leap from 5.65 billion downloads in 2019 to 9.5 billion.
Diverse Gaming Community
India boasts a vibrant gaming community of approximately 568 million players, with women making up 40% of this figure—a significant increase from three years ago. The demographic profile of Indian gamers shows a diverse age range, with 50% falling within the 18 to 30 years bracket, favoring mid-core to hardcore genres, and about 30% aged between 31 to 45 years, who prefer strategy games.
Key Drivers and Job Market Growth
The proliferation of smartphones, enhanced phone memory, and affordable data rates are identified as critical drivers of this booming industry. The report further highlights the burgeoning job market within the gaming sector, projecting an addition of 2.5 lakh jobs over the next decade, complementing the current workforce of approximately 1 lakh professionals.
Cost-effectiveness in game development, with expenses being up to 50-60% lower than in Western countries, positions India as an attractive hub for game development outsourcing.
Collaboration and Community Building:
Parth Chadha, Co-Founder & CEO of STAN, underscores the importance of collaboration among developers, publishers, influencers, and users to foster a global gaming powerhouse in India. STAN aims to nurture the fastest-growing gaming community in the country, facilitating engaging and rewarding experiences for all stakeholders in the gaming industry.
The surge in demand for skilled professionals within the gaming sector is indicative of the industry's robust growth, offering numerous opportunities for developers, programmers, artists, and customer support roles.
India's gaming industry's upward trajectory is not just a testament to the country's growing economic prowess but also marks a paradigm shift in entertainment consumption, setting the stage for a dynamic and inclusive gaming ecosystem.
