Indian Economy News

Indian gaming industry to grow to US$ 8.92 billion in next five years: Report

  • IBEF
  • July 10, 2024

The Indian gaming industry is expected to grow to US$ 8.92 billion in the next five years, according to a recent report. India's gaming sector is currently valued at around US$ 3.1 billion. With 442 million gamers, it is the second-largest gaming market in the world behind China. Over the last five years, the Indian gaming sector has raised US$ 2.8 billion from domestic and global investors, with the real money gaming (RMG) segment being one of the chief revenue drivers, as per Grant Thornton Bharat and the E-Gaming Federation (EGF).

The RMG sector accounts for 83-84% of the revenue, with approximately 100 million online gamers daily, including 90 million paying to play. This growth has been driven by a surge in game downloads, which have increased from 5.65 billion to 9.5 billion, making India responsible for 16% of global game downloads. The industry also boasts a significant workforce, with 15,000 game developers and programmers in India. The report highlights the need for a robust and clear regulatory landscape to support the industry's growth and a detailed code of conduct to ensure accountability, transparency, and ethical standards. The report also emphasizes the importance of third-party certification to encourage self-regulation and uphold industry standards.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.