India dominated the world’s gaming market in 2021–2022, according to the India Gaming Report FY 2021–2022, which was released in Hyderabad on Thursday. India also had the largest pool of mobile game players. China and the US came in second and third place, with 6.1 billion and 5 billion game downloads, respectively, but were well behind China with 15 billion game downloads.
The research was unveiled at the India Game Developers Conference and was organised by the gaming and interactive media fund Lumikai in collaboration with Deloitte India (IGDC).
In 2021–22, the number of gamers in India reached 507 million, surpassing the half-billion mark. By 2025, research projects that this number will reach 700 million.
The gaming market in India had significant turning points this year and saw robust growth overall.
According to Justin Shriram Keeling, the founding general partner of Lumikai, the rise would be further fueled by the country’s fast-growing gaming population, higher conversion rates to premium customers, and Indian gamers’ rising level of intelligence. He claims that, in contrast, the US and Chinese markets are either experiencing stagnation or a decline in demand.
The average revenue generated in India between 2021 and 2022 from paid customers increased by 11%, to $20 per person per year, or around Rs 1,600.
The belief that Indians are reluctant to pay is dispelled by this, according to the report.
The research notes that, encouraged by this phenomenal growth, domestic businesses are currently receiving funding from all around the world, which has caused investments to soar by an astounding 380% this year compared to 2019. Since 2021, India has really discovered three gaming unicorns and at least one successful IPO from its pool of more than 900 companies.
In the Indian gaming industry, the past 28 months have been a turning point, according to Salone Sehgal, another founding general partner of Lumikai. “VC investment of over $2.6 billion has been attracted during this time,” she stated.
Gamer gender disparity in India is another intriguing fact. This ratio was determined to be 60:40 in the poll, which included 2,240 respondents. This shift in trend indicates that more women are becoming gamers. A battle game like “Free Fire” took up the lion’s share of the 109 minutes (on average) spent on games, with the average weekly time spent on games coming in at 8.5 hours.