India’s online gaming industry eyes Rs 11,900 cr revenue by FY23

Increasing smartphone affordability and penetration, expanding internet user base, declining data prices were attributed as the growth drivers for mobile gaming
A rapid growth in digital infrastructure has led to an exponential growth of online gaming, which is expected to touch Rs 11,900 crore by FY23, according to a report.

The online gaming industry that was pegged at Rs 2,000 crore in FY14 grew 2x to reach Rs 4,400 crore in FY18. The industry revenue is expected to clip at 22 per cent CAGR from FY18-FY23 to touch Rs 11,900 crore, the report said.

The report observed that the number of gamers and game developing companies has surged to 250 million in 2018 from 20 million and 25 million, respectively in 2010.