New Delhi According to a consumer survey, nearly two-thirds (64%) of paid gamers in India spend their money on in-app purchases, while 57% spend on gaming subscriptions across consoles and other platforms. The study included nearly 2,200 gamers who were interviewed in November 2022 by gaming venture fund Lumikai and AWS.
Real money gaming (RMG), which required players to pay an entry fee to participate in online competitions and be rewarded with cash prizes, was the biggest revenue driver for the gaming industry, but in-app purchases was the fastest growing category with a compounded growth. Annual Growth Rate (CAGR) of 34%.
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The survey showed that 45% of paid gamers are motivated by the opportunity to make money, but their willingness to pay is driven by new content/levels in the game (43%) and attractive in-game items and rewards (44%) Is.
The survey also covered gamer behavior in the eSports segment and found that only 20% of gamers are participating in eSports while 14% are playing and watching eSports on streaming platforms. Multiple online gaming, including battle royale, is the most popular eSports category, followed by sports, fighting, and real-time strategy.
According to Lumikai, the number of eSports players in India is set to grow four-fold from 150,000 in 2021 to 600,000 last year.
Justin Shriram Keeling said, “Indians download more games than any other country on Earth, and this is translating to white space on the consumer demand side, which includes a largely young, professional gamer category, who are increasingly paying for in-app purchases.” , Founding General Partner at Lumikai.
According to a March report by Newzoo and MPL, the competitive gaming market in India is expected to more than double from $1.5 billion in 2021 to $3.5 billion in 2024. The US has the following paid competitive gaming market.
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