BITKRAFT Ventures & Redseer: India’s Gaming Market in 2025
A robust overview of the Indian gaming market with a lot of helpful numbers.
It’s the report I’ve missed, and it’s interesting, and it highlights data that is not so easy to find elsewhere.
Exchange rate used: $1 = 85 Indian rupees.
India economy
India’s real GDP growth rate exceeds the average for both emerging and developed economies (2018-2025 data).
Private consumption accounts for 61% of GDP, on par with the UK and above China (40%), Saudi Arabia (45%), and the UAE (46%).
The share of discretionary spending in monthly household budgets has grown by 5 percentage points over the past decade: from 24% to 29% in urban areas, and from 22% to 28% in rural areas.
❗️Discretionary spending refers to non-essential expenditures: travel, gaming, hobbies, restaurants, and so on.
India’s median population age is 29 (compared to 40 in China and the UK, and 38 in the US). 51% of India’s population is under 30.
The internet audience reached 835 million in 2025 and is projected to hit 1.12 billion by 2030. Smartphone ownership stands at around 700 million.
India ranks 3rd globally in average daily mobile usage at 5 hours per day, behind only Indonesia (6.3 hours) and Brazil (5.3 hours).
Mobile internet and smartphone costs in India are among the lowest in the world.
India’s Entertainment Market
India’s digital entertainment market is valued at $9.3 billion in 2025.
Games and interactive entertainment account for a quarter of that total ($2.4 billion), growing 1.5x faster than the broader market.
Gaming revenue in India is projected to reach $7.8 billion by 2030 (26% CAGR).
Gaming Audience
Of approximately 700 million smartphone owners, around 520 million play at least one game.
Paying players number 140 million, roughly 20% of the total gamer population in 2024.
By 2030, the player base is expected to grow to 700 million, with 230 million paying players.
51% of gamers are under 30. The share of women has grown from 23% in 2022 to 26% in 2025.
96% of players game on mobile, 20% on PC, 12% on console.
By downloads, simulators lead (22%), followed by arcade titles (19%) and puzzles (17%).
India’s Gaming Market
India’s gaming market grew from $1.1 billion in 2023 to $1.9 billion in 2025 (31% CAGR).
By 2030, the market is projected to reach $4.4 billion (18% CAGR).
❗️In August 2025, India passed a law fully banning real money gaming online. From 2026 onward, industry revenue will come exclusively from traditional games and esports. Despite this, the report’s authors expect a structural shift rather than a collapse, and remain optimistic about growth rates.
Mobile games account for 78% of the market, PC 15%, and consoles 7%. PC’s share is gradually growing, driven by the availability of gaming laptops and widespread internet access.
Looking at mobile genres, hypercasual, hybrid casual, and casual titles account for 56% of all IAP revenue.
More complex titles account for 44%. By 2030, this is expected to shift: the midcore segment is projected to grow while casual shrinks.
Battle Royale leads by revenue with a dominant 47% share in 2025.
Monetization in the Indian Market
ARPPU grew 5.5x over five years, from $3 in 2020 to $18 in 2025. The figure is projected to grow 9x by 2030. There is an error in the chart below.
The split between advertising and IAP is nearly even. In 2025, advertising accounted for 57% of revenue and IAP for 43%.
By 2030, IAP is projected to grow to 66% of revenue (28% CAGR), while advertising’s share is expected to fall to 33% (9% CAGR).
Among ad formats, native and rewarded ads dominate in midcore and core games. Among IAP types, season passes are the fastest-growing.
Esports Market in India
The esports market reached $38 million in 2025. The numbers are modest, but growth has been significant (a 42% CAGR over the past couple of years).
By 2030, the market is projected to grow to $120 million (26% CAGR).
I’d take that one with a grain of salt. Some factual inaccuracies like Krafton having a deal with nCore (patently false) and includes non-video game companies like Dream 11 as well.