Niko Partners: India Gaming Market in 2024
The Indian gaming market is growing the fastest among those Niko Partners covering, yet its size without the RMG segment is far from that of leading countries.
Market Overview
By the end of 2023, the Indian gaming market was valued at $830 million, representing a 15.9% increase from 2022.
Niko Partners analysts expect the Indian market to grow by 13.6% to reach $943 million in 2024. By the end of 2028, it is projected to reach $1.4 billion, with a compound annual growth rate of 11.1%.
Currently, the Indian market is the fastest-growing among all those tracked by Niko Partners.
Mobile games make up 77.9% of the market revenue, PC games account for 14.5%, and console games make up 7.7%.
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The gaming audience in India reached 453.9 million people in 2023. This number is expected to grow to 508.6 million in 2024 and reach 730.7 million by 2028, with an average annual growth rate of 10%.
❗️Niko Partners does not include the Real-Money Gaming (RMG) segment in India, which accounts for more than half of the gaming revenue.
Indian Player Behavior
77.3% of PC gamers reported spending more time on games in Q1 2024 compared to the previous year.
Female players who make in-game purchases spend 8.5% more than male players.
Niko Partners analysts expect that as disposable incomes rise and high-end devices become more accessible, ARPU in India will increase.
57% of mobile gamers in India have played Battle Royale games in the past three months, with Battlegrounds Mobile India and Garena Free Fire leading the pack. Six out of ten paying users in these games purchase a Battle Pass.
65.4% of Indian gamers engage with esports, and these users tend to spend 12% more on games.
57.2% of Indian players discover new games through streamers and influencers.
Social features and the ability to play together are key factors for Indian gamers when choosing a game.