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Indian gaming market revenue may double to $6 billion by 2028: report

Economic Times

Economic Times · 1y ago

Indian gaming market revenue may double to $6 billion by 2028: report

India's mobile gaming market is experiencing rapid growth, with the annual revenue of the gaming industry set to double to $6 billion by 2028. The number of paying gamers is projected to reach 240 million by 2028, and the industry is comprised of over 1,400 gaming companies. The government's recognition of esports and state-led initiatives to develop talent are driving the growth of professional players in the country. Game downloads in India have surged from 5.65 billion in 2019 to 9.5 billion in 2023. Mobile gaming dominates the Indian market, accounting for 90% of revenue. The industry is expected to create 2.5 lakh new jobs in the next decade.

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Indian SaaS products to corner 8% global market share by 2028: report

Economic Times

Economic Times · 1y ago

Indian SaaS products to corner 8% global market share by 2028: report

According to a report by 1Lattice and Sorin Investments, Indian SaaS startups are predicted to capture 8% of the global market share by 2028. Currently, Indian SaaS products hold a 6% share of the global market. The report also forecasts the Indian SaaS market to reach $37 billion by 2028. However, the article notes that the next 2% gain in global market share may take up to four years to achieve. Additionally, the focus of Indian SaaS companies has shifted towards efficiency and content-based marketing approaches.

Online gaming continues to grow, but GST change to “moderate” monetisation: report

Economic Times

Economic Times · 1y ago

Online gaming continues to grow, but GST change to “moderate” monetisation: report

A report by Winzo and IEIC suggests that the recent increase in goods and services tax (GST) in India will "moderate" monetization per user in the gaming industry. Pay-to-play games have historically been the largest revenue source in the Indian gaming sector, but high tax burdens are expected to impact user monetization. The report predicts that the gaming industry will continue to grow in terms of user base, but this growth will not translate into equivalent monetization due to recent tax policies. The report also highlights the rise of non-real money gaming (RMG) games, with battle royale games gaining popularity in the country. The Indian gaming ecosystem is projected to reach a revenue of $6 billion by 2028, with non-RMG games occupying a larger share of the market.

Video market in India ranks 3rd largest in Apac, growing fastest to reach $17 bn by 2028

Money Control

Money Control · 1y ago

Video market in India ranks 3rd largest in Apac, growing fastest to reach $17 bn by 2028

According to an analysis by Media Partners Asia Research (MPA), the video market in India is valued at $13 billion, making it the third-largest in the Asia Pacific region. The report predicts that the Indian video market will continue to grow at a rate of 5.6% and reach a valuation of $17 billion by 2028. China remains the largest video market in the region, generating $64 billion in revenue, followed by Japan at $32 billion. The total Asia Pacific video industry revenue is expected to reach $165 billion by 2028.

Indian digital gaming industry to more than double to $7.5 billion by FY28: Lumikai

Economic Times

Economic Times · 1y ago

Indian digital gaming industry to more than double to $7.5 billion by FY28: Lumikai

The Indian digital gaming industry is expected to reach $7.5 billion by fiscal year 2028, more than doubling from its $3.1 billion revenue in fiscal year 2023. Lumikai, a gaming venture capital firm, attributed this growth to in-app purchases, ad revenues, and an expanding user base. The report noted that the real money gaming segment could face challenges due to taxation policies and industry consolidation. India had 568 million gamers in fiscal year 2023, with 25% being paying users. Non-metro cities showed significant engagement in the gaming industry.

Indian gaming companies facing tougher challenges compared to China: Salone Sehgal of VC fund Lumikai

Economic Times

Economic Times · 4m ago

Indian gaming companies facing tougher challenges compared to China: Salone Sehgal of VC fund Lumikai

Indian gaming companies face tougher challenges compared to China, says Salone Sehgal of Lumikai, a gaming-focused venture capital fund. Indian firms must compete with big tech in a less protected market, fostering capital efficiency and persistence. India's gaming sector is growing rapidly at 20% annually, unlike the saturated Western markets. The online gaming industry is projected to more than double, reaching $9.1 billion by 2029, promising significant returns for early investors.

Former Momspresso Founders’ Startup Pravis Picks Up Stake In StreamO

Inc42 · 1y ago

Former Momspresso Founders’ Startup Pravis Picks Up Stake In StreamO

Growth marketing firm Pravis has acquired an undisclosed stake in adtech gaming platform StreamO. StreamO connects brands with gamers and their live viewers and already has over 20,000 gamers on its platform, with a GenZ subscriber base of over 300 million. Pravis aims to target India's growing gaming market, particularly the GenZ demographic. The Indian gaming ecosystem is experiencing significant growth, with 6 out of 10 smartphone users in India being gamers, and more are willing to pay for gaming entertainment. The Indian gaming market is projected to reach a valuation of $7.5 billion by 2025.

D2C Fitness Brand Boldfit Ropes In Cricketer KL Rahul As Investor

Inc42 · 1y ago

Indian cricketer KL Rahul has invested in and become a brand ambassador for Boldfit, a Bengaluru-based fitness brand. Boldfit offers over 400 products across various categories and aims to double its revenue to INR 150 Cr in FY24. The company plans to expand its product range, enter the Middle East market, and open 100 offline stores in India in the next four years. This partnership reflects the increasing trend of athletes investing in startups in the rapidly growing Indian fitness market, projected to reach $32 Bn by 2028.

China's Tencent posts weak revenue growth, plans to double buybacks

Economic Times

Economic Times · 1y ago

China's Tencent posts weak revenue growth, plans to double buybacks

Chinese tech giant Tencent Holdings reported a 7% increase in fourth-quarter revenue, falling short of analyst expectations due to China's economic slowdown. The company, known for its popular WeChat messaging platform and gaming business, generated revenue of ¥155.19 billion ($21.56 billion) in the final quarter of 2023. Overall, Tencent's revenue for the full year increased by 10% to ¥609 billion, marking a recovery from its previous year of decline. However, the company's core gaming business experienced a slowdown, with revenue in China declining by 3%. Despite the challenges, Tencent plans to double its share buybacks in 2024.

India’s video market set to expand to $13 billion by 2028

Economic Times

Economic Times · 1y ago

India’s video market set to expand to $13 billion by 2028

India's video market is projected to reach $13 billion in revenue by 2028, driven by the booming streaming industry. The country is the fastest-growing among major global video markets, with an expected annual growth rate of 8% through 2028. Streaming giants like Netflix and Amazon are investing heavily in India, with a combined expenditure of $500 million per year on acquiring and producing local content. The industry's support is expected to create 280,000 jobs in the streaming sector by 2028. India's streaming-TV market is experiencing rapid growth, with consolidation among major players.

Gaming, animation, VFX market projected to touch $6.8 billion by 2026: report

Economic Times

Economic Times · 1y ago

Gaming, animation, VFX market projected to touch $6.8 billion by 2026: report

The Indian online gaming, animation, and VFX market is projected to reach $6.8 billion by 2026, with the gaming industry alone estimated to be worth $4.6 billion. The Animation & VFX sector is predicted to grow from $1.3 billion to $2.2 billion during the same period. The report emphasizes the potential of the AVGC (Animation, Visual Effects, Gaming, Comics, and Extended Reality) sector as a major employment generator, with over 160,000 new jobs expected to be created annually and a total of 2 million jobs by 2030. The implementation of the National Draft Policy Framework for AVGC-XR is recommended to support the growth of the sector.

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