The Indian gaming industry clocked $3.1 billion in FY23 revenue….reports Asian Lite News
The Indian gaming market is likely to hit the $7.5 billion valuation mark by FY28 – a 20 per cent CAGR growth – driven by increasing in-app purchases and advertising revenues in casual and mid-core games, a new report said on Thursday.
The Indian gaming industry clocked $3.1 billion in FY23 revenue.
Demand for games in India was robust with 15.4 billion gaming downloads in FY23, marking India as one of the largest gaming markets in the world, according to the ‘State of India Gaming’ report by gaming and interactive media fund Lumikai, in collaboration with Google.
There are over 568 million gamers in the country – over 50 per cent of all Indian internet users.
“Indian gaming has been on the rise because of rapid digitisation, growth in new gamers and new paid gamers, and increasing diversity of gaming content consumed. Even though funding has slowed down this year, the outlook towards the gaming industry is extremely positive,” said Salone Sehgal, Founding General Partner.
The data also sheds light on India’s global position as one of the leading countries globally for total mobile game downloads. Over 50 per cent of all Indian internet users account for the gaming population in the country. This number grew by 12 per cent in FY23, according to the report.
The data also highlighted how the average time spent on gaming increased by 20 per cent, to 10-12 hours per gamer per week.
About 59 per cent of gamers are male and 41 per cent female, with 66 per cent coming from non-metros. Over 58 per cent of users said they partake in in-app purchases, with 62 per cent of users claiming that UPI is their preferred mode of payment for games, the report mentioned.
NODWIN Gaming Teams Up with Intel
South Asia’s gaming and esports media company NODWIN Gaming on Thursday announced that it has partnered with Intel, Monster, Hyundai, TVS Raider, Opraahfx, BenQ, and ACT for the 4th edition of India’s premier digital festival, DreamHack.
The three-day festival will kick off on Friday in Hyderabad for a second consecutive year.
“NODWIN Gaming, in collaboration with our esteemed partners, remains dedicated to advancing the esports landscape in India through our collective intellectual properties. Our shared objective is to leverage the unique strengths of each brand to elevate the overall experience for our DreamHack community,” Akshat Rathee, Co-founder and Managing Director of NODWIN Gaming, said in a statement.
Moreover, the company said that NODWIN Gaming’s strategic alliance with chip maker Intel as the festival’s global partner will usher in Intel’s unmatched expertise and state-of-the-art technology to elevate the overall DreamHack India experience.
This collaboration ensures that attendees stand at the forefront of gaming innovation, resonating perfectly with Intel’s unwavering dedication to empowering the gaming and esports ecosystem.
Hyundai has been announced as the official mobility partner, with Indian two-wheeler manufacturing giant TVS Raider joining as the official motoring partner for the latest edition of DreamHack India.
NODWIN Gaming has further announced that ACT will serve as the festival’s connectivity partner, ensuring seamless internet connectivity.
Opraahfx will be the festival’s talent partner, bringing an array of experiences, activities, and talent from the entertainment industry.
Consumer electronics manufacturer BenQ joined as the tournament’s monitor partner.
NODWIN Gaming has also announced day passes, which are priced from Rs 299 and can be acquired through DreamHack India’s official ticketing partners, PayTM Insider, and MeraEvents.