India’s gaming industry has been on the rise, and the growth has now been quantified in the latest ‘India Gaming Report FY 2022’, by Lumikai, which claims to be India’s only gaming-focused venture capital fund. The report has found that there are over half-a-billion gamers in the country, and the gaming sector funding is up 380 per cent from 2019 and up 23 per cent from 2020.
Here’s the complete details of all the findings published in the report:
– India has crossed the half-a-billion mark, with 507 million gamers today in the country. Out of this, 120 million, or almost one-fourth, are paying users
– With 15 billion downloads, India was the largest consumer of mobile games in the world in FY22.
– In FY22, mid-core games (like BGMI, Free Fire) were the fastest growing gaming category achieving growth of 32 per cent, grossing combined revenues of approximately $550 million
– Nearly 48 per cent of gamers spend money on mid-core games. 65 per cent of paying gamers claim they have engaged in in-app purchases at least once
– Indian gaming companies are on track to raise $513 million for the calendar year 2022. Gaming sector funding is up 380 per cent from 2019 and up 23 per cent from 2020
– Web3 has emerged as an increasingly popular technology in games, with 30 per cent of 450 Indian Web3 companies operating in gaming. Web3 games in India have raised approximately $400 million in funding (2019-22)
– India-based content is growing in popularity, with 80 per cent of gamers showing a proclivity to play games based on Indian intellectual property
– The number of female gamers in India is on the rise. Male and female ratio of surveyed gamers yielded a 60:40 ratio, equally split between metro and non metro cities