India’s Gaming Industry Projected to Cross $9.2 Billion Valuation In Next Five Years: Report

Over years, India has transformed into one of biggest gaming markets globally. According to Lumikai's latest report, Indian gaming industry has reached a valuation of $3.8 billion in FY24 and is projected to cross a staggering $9.2 billion by FY29.

This remarkable growth is down to India's growing gaming population of 591 million active users. Out of se 591 million users, 23 million users were ded last year. report furr stated that 44% of India's gamers consists of women. Here is a detailed dive into trends observed from report.

Gaming’s Role in New Media Economy

As per Lukmikai's report, Gaming now accounts for 30% of India’s $12.5 billion new media revenue, which includes video content, animation, audio streaming, and social media. rise of in-app purchases, particularly in mid-core games, has been a significant driver of revenue, growing by 41% year-on-year in FY24.

Average Revenue Per Paying User (ARPPU) increased by 15% to reach $22, furr boosting industry's profitability. Moreover, 148 million users now engage in in-game purchases, with 8 million new paying players joining ecosystem in past year.

Non-Metro Cities Take Le

Interestingly, 66% of gamers hail from non-metro cities, showcasing deep penetration of gaming beyond urban centres. ditionally, 43% of gamers are first-time earners aged between 18 and 30, emphasizing sector's appeal to young professionals.

"India has established itself as a global gaming powerhouse with 590 million gamers and projected to deliver strong growth over next five years," said itya Swami, Regional Director at Google Play.

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India’s Gaming Habits Outpace Social Media Usage

average Indian gamer spends 13 hours a week gaming, double time spent on social platforms. With India ranking as world’s second-largest mobile gaming market, recording 15.2 billion downlos in FY24, country outpaced combined downlo volumes of Brazil and US.

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Future of Gaming in India

overlap between gamers who engage in Real Money Games (RMG) and mid-core games, coupled with growing use of UPI and digital wallets for in-game purchases, highlights evolving preferences of Indian gamers.

With such impressive metrics, India’s gaming industry is poised to redefine entertainment, making it a lucrative sector for entrepreneurs and investors alike. By FY29, nation’s gaming landscape could stand as a global benchmark for innovation and growth.