Mad About Markets: Indian gaming industry gunning for higher growth

Globally, the gaming industry is bigger than movies and music. The gaming industry grew from about $116 billion in 2017 to over $157 billion by 2020.Compared to this, the movies industry is pegged at under $40 billion, and music under $60 billion. Gaming is bigger than both combined...

In India, the pace at which gaming is growing, it is expected to be at par with the Bollywood industry this year itself, and surpass it by 2023. Gaming is seen as a $3.5 billion industry by 2023, from about $2 billion in 2021.

The Indian online gaming market has seen tremendous growth in recent years. India currently has the second-largest base of online gamers in the world after China. From 433 million active online gamers in FY21, the number is expected to touch 657 million by FY25.