Esports – One of the meteoric rising international phenomena that is taking the world by storm with prize money reaching up to $30 million per year. The online gaming industry across India is expected to be valued at Rs 150 billion in CY2024, compared to Rs 120 billion in 2022, according to the latest data by market research firm, Statista. In the last two and a half years, the online gaming industry has grown by leaps and bounds in India, with now it being considered a serious profession. Case in point, India recorded about 390 million online gamers in 2021, thereby clocking an eight percent growth from the previous year. Interestingly, about 95 million gamers reportedly paid to play last year. The total number of gamers is likely to reach over 450 million by 2023, stated the report.
With the total number of smartphone users in India expected to reach 931.3 million by end of CY22, the mobile gaming market across India is projected to account for about 50.5% of the gaming industry. The sector had a market share of around 49% in 2016. Meanwhile, the PC gaming market is also been growing thanks to the rise of AAA games and other advanced games. The value of PC gaming market is projected to reach about $106 million in CY22, marking a significant increase from about $84 million in CY16.
The world of Gaming is booming with total revenues estimated to be larger than those of worldwide box offices, music streaming and album sales, and major sports leagues all put together. With users engaging for 51 minutes daily, video gaming is now more engaging than any social media outlet (Facebook, Snapchat, and Instagram). It is a top engagement digital platform globally.
The worldwide gaming industry itself is projected to be a $257 billion industry by 2025, with Gen-Zers making up 90% of the players. The GCC gaming market has followed the rapid expansion and is expected to hit US$ 821 million by 2021 from US$ 693 million in 2017
Global Esports & Gaming Summit is the first of its kind focused summit in the region that gathers the entire gaming ecosystem consisting of developers, publishers, distributers, leagues and competitions, heads of top brands, storytellers, sports organizations, influencers, broadcast and live stream media among others.
