A joint report published by IEIC and WinZO Games on 19 March 2025, shows that the online gaming sector in India can grow two-fold in the upcoming four years that is by 2029. The revenue of the sector is anticipated to grow to $9.1 billion by 2029 as per this report.
Real Money Games Ruling the Space
It is the real money games that are ruling India’s online gaming sector and will continue to do so and be considered the key factor in multiplying the revenue of the sector. As per the report, around 86% of the revenue generated by the online gaming sector in 2024 came from real money games online. In 2024, the total revenue of the gaming sector in India stood at $3.7 billion.
Apart from the revenue, talking about the investors’ value, the sector can unlock up to $63 billion by 2029. The growth is driven by technology innovation which goes without saying, along with IP creation, and also an increase in engagement.
WinZO’s Co-founder Paavan Nanda said that the online gaming sector growth is inevitable and will grow significantly in the coming years. However, the growth will moderate in the Real money games (RMG) space. While in 2024 it comprised 85.7% of the total revenue, by 2029 it will comprise around 80% of the same. The share of the non-real money gaming segment is expected to grow to 20% of the total revenue by 2029 from its current 14.3% ratio.
Recent Data of Online Gaming Sector
According to the report, there are 591 million gamers in the country which is around 20% of the worldwide number of gamers. Coming to the gaming companies, there are around 1900 gaming companies in the country, employing 1.3 lakh highly skilled experts. There had been 11.2 billion mobile game app downloads from Google Play store and other alternatives which are also gaining traction.
Coming to the investments received by the online gaming sector, in 2024 it received $3 billion via FDI. This is 85% of the entire FDI invested in the pay-to-play segment.
Gaming sector Outlook
Currently, there is only one publicly listed online gaming company in the country and thus commands the highest premium in the global platform of gaming companies. However, with the rise of digitalization, this sector is anticipated to touch a market value of $60 billion by 2034, ten years from now.
The conducive regulatory regime along with the growing demand for online games, can help in achieving this target and it can create over 2 million employments which can boost the Indian economy again.
Source: BusinessStandard
______________________________________________________________________________________
Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.