Online Gaming Sector to Reach $9.1 Billion by 2029

India’s online gaming industry is set for massive growth, reaching $9.1 billion by 2029.

India’s online gaming sector is expected to double and reach $9.1 billion by 2029, with real-money gaming dominating the industry.

According to a joint report released on Wednesday at the Game Developers Conference (GDC) in San Francisco by real-money gaming platform Winzo Games and IEIC, India’s online gaming market revenue stood at $3.7 billion in 2024, with the real-money gaming segment accounting for approximately 86% of the total.

Winzo co-founder Pavan Nanda stated, “India’s online gaming industry is on an unprecedented growth trajectory. It has the potential to reach an estimated market size of $9.1 billion and an investor valuation of $63 billion by 2029. Winzo is committed to making India a global gaming hub.”

As per the report, India has 591 million gamers, making up about 20% of the total global gamers. Around 11.2 billion mobile game apps have been downloaded, positioning India as a strong emerging alternative for Google Play Store. Additionally, there are approximately 1,900 gaming companies in the country, employing 130,000 highly skilled professionals.

The sector has attracted $3 billion in Foreign Direct Investment (FDI), with 85% of it directed toward the pay-to-play segment.

The report further highlights that India’s online gaming industry has the potential to deliver $63 billion in investor value. India’s only publicly listed gaming company, Nazara Technologies, receives the highest premium among globally listed gaming firms.