The report – Building up the e-gaming ecosystem of India and the influence of smartphones – also said the gaming market in India is set to triple over the next four years, from $1.8 billion in 2021, driven by a 500-million-strong digitally native population between the ages of 15 and 35.
At present, India is the world’s largest mobile gaming market in terms of app downloads, as per Sensor Tower data, contributing up to 12% of the world’s total.
While casual gaming (Angry Birds, Ludo King) is the most popular genre in India, hardcore games like Battlegrounds Mobile India and Free Fire generate far more revenue and are the most engaged cohort of gamers, according to the report, spending up to 4x more time and money on gaming.
In a survey conducted on 500 hardcore gamers, about 70% of the respondents said they play 2-5 games in parallel and spend about ₹230 a month on gaming.
This segment also attracts a large number of spectators, driven by the reach of smartphones which are capable of running high-end games. This alone is a $30 million market at present.
The sector has also been attracting investments, and the industry is expected to generate 60,000 to 80,000 new jobs by 2025.
However, it needs a combination of policy and capability building to drive sustainable growth.
The regulatory uncertainty around defining games of skill, gambling and data protection and taxing gaming companies also needs to be resolved.
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