Microsoft Studios

The Power of Play: Exploring the Growing Gaming Market

The Indian gaming market is poised for substantial growth, projected to reach $8.6 billion by 2027 with a 28% CAGR from FY20-FY23.

• The Indian gaming market is projected to reach ₹8.6 billion by 2027, growing at a 28% CAGR, while the global market is expected to hit $340 billion.
• A shift to a 28% GST on total deposits has pressured real-money gaming (RMG) firms, leading to layoffs, revenue slowdowns, and a strategic push toward geographic and genre diversification.
• RMG currently dominates the Indian market, accounting for approximately 82% of total gaming revenue, though monetization remains low relative to total download volumes.