The India Gaming Report 2024 primarily based on Interactive Entertainment and Innovation Council (IEIC) evaluation and secondary information, tasks paying avid gamers to succeed in 240 million by 2028 from 144 million paid customers for video games in 2023.
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“The Indian gaming industry comprises over 1,400 gaming companies, including 500 gaming studios. The annual revenue for gaming is projected to reach $6 billion by 2028,” the report stated.
According to the report, the variety of skilled gamers will develop by 2.5 instances over the subsequent 5 years from 500 in 2023 on the again of recognition by the federal government of esports and varied state government-led initiatives to develop expertise round esports.
“In just four years, from 2019 to 2023, game downloads in India soared from 5.65 billion to a staggering 9.5 billion. This growth propelled India’s share of global game downloads to a substantial 16% in 2023, followed by Brazil and the US with 4.5 billion (7.6% market share) and 4.4 billion (7.4% market share) downloads, respectively,” the report stated.
The report estimates India has a client base of round 568 million avid gamers and is house to roughly 15,000 sport builders and programmers. Approximately 40% of the gaming populace in India contains girls whereas three years in the past just one in 5 avid gamers in India have been girls.
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“Mobile gaming contributes to 90 per cent of the gaming market in India as compared to around 37% and about 62% in the US and China, respectively,” the report stated. Among the gaming group, almost 50% fall inside the age bracket of 18 to 30 years. The section reveals a proclivity for mid-core and hardcore gaming genres, notably these characterised by fast-paced gameplay similar to capturing video games, the report stated.
Conversely, about 30% of Indian avid gamers averaged between 31 and 45 years, and their gaming preferences lean in direction of technique video games, in accordance with the report.
Growth in smartphones to over 820 million pushed by affordability, improve in cellphone reminiscence by 3-4 instances up to now 5 years, low priced information are going to be key development drivers for the Indian gaming trade.
The report tasks that India’s on-line gaming trade will add 2.5 lakh extra jobs within the subsequent 10 years which at current is estimated to make use of 1 lakh expert gaming professionals immediately and not directly.
“On average, game development costs in India can be up to 50-60% lower than those in Western countries, making it an exceptionally attractive outsourcing destination,” the report stated.
The Indian gaming sector is presently witnessing a surge in demand for expertise, with job openings starting from 50,000 to 60,000 throughout varied roles, together with builders, programmers, testers, artists, and buyer help, the report stated.
Source: economictimes.indiatimes.com