Indian esports industry to grow to $140 million by 2027: report

The Indian esports industry is expected to grow from $40 million in 2022 to $140 million by 2027 according to the State of India Gaming Report 2022 from AWS and Lumikai.

The report found the number of esports players in India grew four-fold - 150,000 in 2021 to 600,000 in 2022 - and is expected to grow 2.5 times over the next five years to reach 1.5 million by 2027. Further, esports revenue at $0.04 billion is a small segment currently but is likely to fast grow at 32% CAGR through 2027.

“Indians download more games than any other country on earth, and this is translating to a host of white spaces on the consumer demand side including a largely young, professional gamer category who are increasingly paying for in-app purchases, an untapped audience of female gamers, and strong interest in games with Indian cultural resonance,” said Justin Shriram Keeling, founding general partner, Lumikai.


He added that India was a diverse market, maturing faster than expected across key vectors. The study is based on a survey of over 2,240 smartphone users across demographics and geographies in India. About 60% of those surveyed were men, and half the gamers were between the ages 18 and 30.

According to the study, 98% play games on smartphones, with 23% playing on PCs/laptops and 14% on gaming consoles. Further, 56% of gamers surveyed came from non-metros, while midcore and hardcore categories had the highest percentage of metros users at 53% and 59%, respectively.

Relaxation was the top motivator for gamers with over 50%, followed by making money (13%), killing time (12%), and socialising (11%).

On average, women spend more time gaming compared with men, averaging 11.2 hours a week as against 10.2 hours.
The survey found that 48% of non-gamers chose casual games (Ludo King, Candy Crush) as their most preferred game category to play in the future, with 35% of gamers acknowledging they have increased their time spent gaming in the last 12 months.

Paying for games

According to the report, 64% of paying gamers made in-app purchases, 57% paid for subscription with 59% starting to pay for games in the last 12 months. Alongside, 50% of paying gamers are willing to pay for casual games, 48% for mid-core and 39% for hyper-casual and RMG (real money gaming).

Indian-themed games becoming popular

The report suggests that 82% of gamers are interested in playing games based on Indian mythology and 43% of non-gamers are more inclined to start gaming if games are based on Indian themes like Ramayana. Further, 79% of gamers are interested in playing games based on Indian themes and history, whereas 78% gamers are interested in playing games based on Indian celebrities.