India’s gaming market has reached $ 2.6 billion and is set to almost quadruple to $8.6 Billion by 2027, as per the recent report by Lumikai.
Lumikai, the gaming and interactive media venture capital fund, has released the first look of its annual ‘State of India Gaming FY 2022’ report at the India Game Developers Conference (IGDC) Summit at Hyderabad.
The report takes a comprehensive look across India’s gaming industry, with inputs from a demographic sample of 2,240 respondents, third-party data providers, interviews with industry leaders, and Lumikai’s proprietary insights.
Some of the key highlights from the report include:
Justin Shriram Keeling, Founding General Partner, Lumikai, said, “India’s gaming industry this year hit major inflection points, registering strong growth across the board. India crossed half a billion gamers in FY22, up from 450 million the year prior. Industry growth is expected to be fuelled by a rapidly increasing gamer base, higher conversion to paid users, and increasing sophistication of Indian gamers. With the market now truly mainstream, we are thrilled to be at the forefront of investing in one of the fastest growing and most dynamic sectors in digital India.”
Salone Sehgal, Founding General Partner, Lumikai, said, "The last 28 months have been watershed years in terms of attracting VC investment of over $2.6 billion in the Indian gaming landscape. Sustained capital investment and liquidity outcomes in the form of strategic exits valuing $750M+, multiple unicorns, and a publicly traded company have heightened the interests of entrepreneurs and investors alike. This sustained momentum should further drive entrepreneurial ambition and innovation in the Indian gaming industry."
The full report will be released at the end of November 2022.