Is Online Gaming Industry in India on the Brink of Extinction?
Created on 14 Jul 2023
Wraps up in 9 Min
Read by 61 people
Updated on 10 Aug 2023
From playing platform games like Mario on our computers to spending hours playing online games on mobile phones, we have come a long way. Almost 1/3rd people in the world have a hobby of either fighting battles in games like PUBG or trying their luck on betting game platforms like Rummy. The rest of the population frowns upon this lifestyle choice and wonders why anyone would spend money and time on mere video games. But, the craze of online games is here to stay and will only increase rapidly with time.
The gaming industry, both online and offline, is a big arena today. The global gaming market in 2022 was $249.55 billion and is estimated to reach $665.77 billion by 2030. Asia Pacific, which includes countries like India, China, Japan, Korea, Bhutan, Bangladesh etc., is the continent with the largest and fastest-growing gaming market.
Likewise the Indian gaming market is increasing with astounding speed and is estimated to grow at a CAGR of around 28.5% by 2029. The graph below represents a clearer picture of this industry in India.
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