India’s gaming market was valued at $2.6 billion in FY 2022 and it will be worth $8.6 billion by 2027 as it clocks a compound annual growth rate (CAGR) of 27 per cent, said a report on Thursday.
There are 507 million gamers in the country in FY22 out of which 120 million are paying users, according to the report by Lumikai, a gaming-focused venture capital fund. The number of gamers is expected to touch 700 million by FY 2025, growing at a CAGR of 12 per cent.
India recorded 15 billion downloads in FY22 to become the largest consumer of mobile games in the world. It is home to more than 900 gaming companies.