The Indian gaming market will almost quadruple to $8.6 billion in 2027 from the current $2.6 billion, a venture capital firm specializing in the gaming industry said. India now has the second largest gamer base in the world with 396.4 million gamers, according to a report by market research firm Niko Partners.
The country is expected to become the world’s largest gaming market by 2022, with a revenue of $13.9 billion, according to the report. The growth is driven by increasing internet penetration and smartphone adoption in India, as well as an increase in disposable income among its population of 1.3 billion people.
The report also found that the average age of Indian gamers has dropped to 18.5 years old from 21 in just three years, and 97% of them are male. The country’s mobile gaming market is expected to grow at a compound annual growth rate (CAGR) of 32%, reaching $2.6 billion by 2027 from $1 billion in 2018, according to another report by market research firm Appsflyer.
India is already the fastest-growing mobile gaming market in the world with revenue growing by over 200% year on year. It’s also the second-largest after China in terms of the sheer volume of downloads and revenue generated.