India games market projected to generate $868m in 2023
Niko Partners, a renowned market research firm, has unveiled its highly anticipated 2023 India Games Market Report, shedding light on the remarkable trajectory of the country's gaming industry. According to the report, India's game revenue is set to surge to an impressive $868 million in the current year, reflecting an astounding 21% year-over-year growth compared to the preceding year, 2022.
Looking ahead, the forecast remains exceptionally promising, with India's games market revenue expected to ascend to a substantial $1.6 billion by 2027, demonstrating a clear upward trend in the industry's financial prospects.
In addition to the financial indicators, the report predicts a significant surge in the number of game players, projecting a 12% year-over-year increase in 2023, bringing the total count to a staggering 444 million enthusiastic gamers. This thriving gaming community is further emphasized by the report, which estimates that a notable 31% of the population will allocate their hard-earned income to purchase game titles.
A noteworthy aspect of India's gaming landscape is its mobile-centric nature, with a remarkable 97% of gamers opting to enjoy their gaming experiences on smartphones or tablet devices. This statistic underscores the immense popularity and accessibility of mobile gaming in the Indian market.
As the Indian gaming industry continues to flourish, it's evident that this dynamic market is poised for substantial growth and innovation, making it a pivotal player on the global gaming stage. Stay tuned for more exciting developments and insights from the mobile gaming industry in India.
Source: Jeffrey Rousseau, Staff Writer for GamesIndustry biz