Lumikai’s latest State of India Interactive Media and Gaming Report FY24 has been featured in VentureBeat and Fortune, spotlighting India’s booming gaming industry. The report highlights India’s gaming market growth from $3.8B in 2024 to a projected $9.2B by 2029, reflecting a 20% CAGR.
Key insights include:
Gaming now contributes 30% of India’s $12.5B new media market.
With 591M gamers, 23M new users joined in FY24, including 8M paying gamers.
Mid-core games drove a 41% YoY increase in in-app purchases, the fastest-growing revenue stream.
India is emerging as the next global gaming hub, with rising engagement, culturally resonant IPs, and accessible platforms fueling growth. As noted by our founding partner, Salone Sehgal, the sector mirrors China’s gaming surge of two decades ago. You can read the Venture Beat article here: https://venturebeat.com/games/indias-game-market-could-grow-from-3-8b-to-9-2b-by-2029-lumikai/ You can read the Fortune article here: https://www.fortuneindia.com/macro/indias-gaming-market-set-to-soar-to-9-bn-driven-by-in-game-purchases/119098
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