INSUBCONTINENT EXCLUSIVE:
growth rate (CAGR) of 27 per cent, said a report on Thursday.
There are 507 million gamers in the country in FY22 out of which 120 million
are paying users, according to the report by Lumikai, a gaming-focused venture capital fund
The number of gamers is expected to touch 700 million by FY 2025, growing at a CAGR of 12 per cent.
India recorded 15 billion downloads in
FY22 to become the largest consumer of mobilegames in the world
Industry growth is expected to be fuelled by a rapidly increasing gamer base, higher conversion to paid users, and increasing sophistication
With the market now truly mainstream, we are thrilled to be at the forefront of investing in one of the fastest growing and most dynamic
average of 8.5 hours per week on mobilegames
Time spent on top mid-core games (like the now-banned BGMI) was approximately double that of top casual games.
A game called Free Fire led
the pack with an average of 109 minutes spent per user per day
said.
Nearly 48 per cent of gamers spent money on mid-core games, while 65 per cent of paying gamers said they made in-app purchases at
least once.
In FY22, mid-core games were the fastest-growing gaming category, achieving growth of 32% and grossing combined revenues of
$550 million.
Salone Sehgal, founding general partner at Lumikai, said that the last 28 months have been watershed years in terms of
form of strategic exits valuing over $750 million, multiple unicorns, and a publicly traded company have heightened the interests of
entrepreneurs and investors alike
gaming companies are on track to raise $513 million for the calendar year 2022
The gaming sector funding is up 380 per cent from 2019 and up 23 per cent from 2020, the report said.
