Niko Partners: The Indian Gaming Market in 2023
Indian market is surpassing China in terms of gamers audience growth by 16x times.
In 2023, the Indian gaming market is projected to reach $868 million, excluding real-money gaming. By 2027, it is forecasted to grow to $1.581 billion, with an average annual growth rate of 17.2%.
❗️ In 2022, Newzoo estimated the Indian gaming market at $2.2 billion, including real-money gaming.
This is the fastest-growing major gaming market in Asia. It is expected that the number of gamers in the country will increase by 343% from 2017 to 2027, reaching 641.2 million. In comparison, China's audience growth during a similar period will be 21%.
Currently, there are 444.4 million gamers in India.
96.8% of Indian gamers play on mobile devices.
31% of users make in-game purchases.
71.8% of Indian gamers engage with esports, either by participating in competitive gaming disciplines, watching tournaments, or taking part in competitions themselves.
The growth in income, internet penetration, and smartphone adoption (even in the lower-priced categories) are the main drivers of this growth.
This shows the really big slice the gaming market has and will only increase