“In terms of demographics, 69% of Indian gamers are under the age of 34, which is much higher than in other regions such as the United States where only 2% of the gamers are publishers”, Shubh Mittal, Director, Ernst & Young.
India is the second-largest gaming market in the world today. However, India is the biggest mobile gaming market when it comes to app downloads. According to Statista, India had an online gaming population of 421 million players in 2022, which is an increase of 8% compared to 2021. The number of online gamers is expected to increase to 442 million in 2023.
Mordor Intelligence’s report predicts that the gaming market in India will grow at a CAGR of 15.68% from 2023 to 2028, pegging it at $3.2 billion. This is mainly due to the growing demand for smartphones and faster internet access, which is driving the growth of the IT infrastructure.
Augmented Reality, Artificial Intelligence, 5G, and other new technologies are expected to bring a new wave of growth to the country’s gaming sector.
The gaming industry is facing some tough times, with the biggest one being the 28% Goods and Services Tax.
GAMEXX 2023 marked the third edition of the event, amid such an exciting environment and focused on pushing the boundaries of gaming. In just a short period, it has become a place where professionals, gamers and industry leaders come together to celebrate the boundless possibilities of gaming.
The gaming industry is set to experience a period of transformation shortly, due to the emergence of new technologies, the changing preferences of players, and the changing market dynamics. These developments are expected to have a significant impact on the way players play and experience games. To gain a better understanding of these changing market dynamics, a Keynote address was given at the third edition of the GAMEXX conference, hosted by the renowned Ernst & Young.
He said that India is still mainly a mobile gaming country and that 94% of gaming is done on mobile. He said that it’s because of how easy it is to get around and how cheap it is.
Mittal also mentioned some of the biggest trends he’s noticed, like the roll-out of 5G which could shake up the gaming world by cutting down on latency and speeding up data transfer. He said this could be a game-changer for the industry.
Lastly, Mittal’s keynote speech highlighted India’s growing presence in the global gaming scene, the importance of the gaming demographic, and how 5G technology could help drive growth in the gaming industry.