New Report Reveals: India Is the Fastest Growing Gaming Market in Asia

Niko Partners, the market research and consulting firm that focuses on video games, esports, and streaming markets in Asia, the Middle East, and North Africa, just released the latest India Games Market Report. Outlining the ongoing surge of the South-Asian country’s gaming industry, the report names India as Asia’s fastest-growing gaming market. While mobile gaming has grown tremendously worldwide, India is a mobile-native market, and it’s those playing on mobile devices who are driving the trend.

India’s gaming market grows, as more than 9 out of 10 gamers play on smartphones

According to the numbers published in the new report by Niko Partners, India is the fastest-growing among 11 tracked Asian gaming markets (including China, Japan, South Korea, Chinese Taipei, Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam). The India Games Market Report projects that video game revenue in India across all platforms will grow by 21% year-on-year, to reach $868 million in 2023. It is estimated to reach $1.6 billion in revenue by 2027, growing at a remarkable 5-year CAGR of 17.2%. Meanwhile, the number of total gamers in India is forecast to reach 444 million this year and grow to 641.2 million by 2027 – a 343% increase in the 10 years since 2017.

India is a mobile-centric market, with more than 9 out of 10 gamers playing on mobile devices. The report reveals a total of 96.8% play on smartphones and tablets. Factors such as higher disposable income, affordability of smartphones, and high smartphone penetration, as well as cheap data tariffs and more widespread internet connectivity, are driving the trend and propelling India’s mobile segment and gaming market as a whole forward.

The ongoing market growth has created opportunities for gaming companies, and the return of Battlegrounds Mobile India by Krafton and Free Fire by Garena are positive signs for the market. BGMI owner Krafton recently even sought government support to promote online gaming in the region and propel the market forward further. As a mobile-native market, creators of mobile games enjoy a “unique advantage” in India as opposed to Western countries, even though mobile gaming has surged across the globe.

Mobile gaming has seen a tremendous surge globally

While India is a true mobile-first market that has been centered around gaming on handheld devices from the start, Western countries have seen a shift from console and PC gaming to mobile gaming in recent years. All over the world, more gamers (and non-gamers) have been using their mobile devices to play games. According to Statista, the number of mobile gamers is set to reach 1.9 billion in 2023. In 2022, more than half the revenue made in the gaming market overall was attributed to the mobile gaming segment, further signifying its growing importance. Besides Asia, North America accounts for a significant market share of the global mobile gaming market.

With the growing smartphone penetration and improved mobile connectivity, gaming has become more easily accessible than ever before. Thanks to a large variety of mobile games from a vast array of genres, any type of player can find a game they like on their phone – from casual games and classics to AAA video games. Mobile gaming saw its emergence thanks to casual games driving adoption. Casual hits such as Candy Crush Saga and Angry Birds saw the masses taking their first steps into the gaming world on mobile phones.

Classic games people are already familiar with from the pre-internet era, such as card, board, and casino games, further, help new users jump into the mobile gaming realm. From a round of rummy, poker, or bridge to Monopoly, Risk, Catan, and more, classic game nights can now take place virtually on mobile phones. Similarly, classic slot machines known from casinos have been made available on online platforms around the world. Platforms such as Vegasslotsonline CA offer thousands of slots to be played for free by players from different regions both on PC and mobile devices. Casual and classic games such as these ensure low entry barriers that see more people around the world choose mobile platforms to play on. This trend doesn’t seem to be slowing down any time soon, as India’s impressive growth data shows.

According to the Niko Partners India Games Market Report, India is the fastest-growing gaming market in all of Asia. Mobile gaming, which has seen a surge around the world, propels the industry in India forward, as it continues its steep upward trajectory.

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