Gaming in India: New Lumikai Report Shares the Market Revenue and Future Projections, Unfortunately Adds Gambling to the Mix
The Indian gaming scene continues to rise in an explosive fashion with esports and video games taking center stage.
According to a report by Lumikai, the projections for the Indian gaming sector looks promising. However, the report contains projections from gambling companies under the pretext of RMG or Real Money Games.
The inclusion of gambling apps creates a negative impact on the video game space, which contains the average video game title that you can play on smartphones, consoles or PCs. With that in mind, here’s the forecast for video gaming in India without including the projections for RMG titles.
In FY22, the Hardcore gaming market grew $600 million from last fiscal year’s $400 million. Similarly, the Casual gaming scene also saw a major boom from $400 million to $500 million. Both these categories are projected to grow 32% and 25% CAGR, respectively. With these estimates, the Hardcore and Casual market will grow to $4.6 billion and $2.4 billion in FY27.
Similarly, the rising Esports and streaming sector managed to grow up to $40 million in India from last year’s 30 million. With a 32% CAGR, this market might have a massive growth of up to $140 million by FY27.
Gamers are also spending more time on their favorite titles, as the report suggests that players on Free Fire, Genshin Impact, and Call of Duty: Mobile spend around an hour of their day on it. Moreover, around 80% of the gamers usually spend their title on casual and hardcore titles.
With the arrival of technologies like 5G reducing latency, gaming especially in the mobile world will see a major boost, and it will be interesting to see how the Indian gaming market grows in the next few years.