India recorded a compounded annual growth rate (CAGR) of 12% in the gaming industry and the number of gamers is expected to jump to 700 million by FY2025, as compared with 507 million in FY2021, according to a report titled Gaming Report India 2022 - For the Game
The revenues generated by ‘Real Money Game’ currently account for 57% of the market size and the projected growth for in-app purchases is around 34% CAGR. As per the report, 46% of gamers in India are women.
With the rise of online gaming applications like Rummy and Teen Patti, gaming's cultural impact grew in India. Across age groups and genders, board games like Ludo and Uno have also become quite popular. However, regularly playing video games is an expensive hobby. Hardcore gamers often spend US$ 80 (Rs 6,500) on peripherals and accessories to improve their gaming experience.
The gaming industry boomed during the COVID-19 period and around 45% of Indians started playing games during this period.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.