Evolving consumer dynamics propelled India’s gaming sector in 2024: Himank Tripathi

As we conclude another year, it is essential to reflect on the key developments, challenges, and achievements that have shaped different sectors throughout the past 12 months. The year 2024 has been marked by dynamic shifts, rapid innovation, and the continued adaptation to both external factors and emerging trends.

Adgully’s annual feature – REWIND – revisits different sectors and identifies the key developments as well gauges the long-term impacts of those developments. We speak to a cross-section of industry leaders to bring a 360-degree view of the industry landscape, the growth trends, financial performance, disruptions, innovations, challenges and more.

In this REWIND 2024 article, Himank Tripathi, Chief Communications Officer, Baazi Games, highlights the key trends and developments that propelled the gaming industry in India in the year gone by…

Overview of the gaming and E-sports industry in 2024

The gaming and e-sports industry in India has experienced continuous growth in 2024, reflecting the country’s increasing enthusiasm for digital entertainment. The sector has seen expansion in both mobile gaming and competitive e-sports, supported by a growing internet penetration rate, smartphone adoption, and a youth-driven demand for immersive experiences. India has become one of the largest markets for mobile gaming globally, with an increasing number of local and international game developers targeting Indian audiences.

Poker was also officially recognized by the International Mind Sports Association (IMSA) as a Mind Sport, placing it alongside respected intellectual pursuits like chess and e-sports. The rise of gaming influencers, content creators, and the visibility of large-scale tournaments like National Poker Series India had further amplified the sector’s visibility and influence. India’s talent pool is also gaining recognition globally, with Indian teams and players consistently performing well in international e-sports tournaments. Overall, the gaming and e-sports sector in India continued to grow in 2024.

Growth and investment in the gaming sector

India’s gaming sector saw significant growth in 2024, driven by broader economic factors and evolving consumer dynamics. The Indian online gaming market grew 23% year-on-year, reaching $3.8 billion in FY24, with projections suggesting it could hit $9.2 billion by FY29, reflecting a 20% CAGR over the next five years. Investments in the Indian gaming ecosystem have skyrocketed in recent years with both domestic and international players recognizing the immense potential of this rapidly expanding market.

I believe several key economic factors have also contributed to this momentum. A young, tech-savvy population, coupled with cutting-edge digital infrastructure and rising disposable incomes, has made gaming more accessible than ever. Additionally, government initiatives promoting digital innovation and startups, as well as a surge in venture capital investments, have propelled gaming startups and the e-sports ecosystem to new heights.

Despite global economic uncertainties, India’s dynamic and resilient economic landscape continues to offer unparalleled opportunities for growth, innovation, and investment in the gaming sector. This positions the industry for sustained long-term success.

Key trends and developments

In 2024, the gaming and e-sports sector was defined by exciting advancements, reflecting how technology and consumer preferences are reshaping the industry.

E-sports, on the other hand, made history as a medal event at the Asian Games, marking a pivotal moment for competitive gaming globally.

One of the standout trends has been the rise of AI in game development. Game designers are increasingly using AI to create more immersive experiences, smarter in-game characters, and innovative game mechanics, making gameplay richer and more dynamic.

Cloud gaming is also on the rise, offering players the ability to enjoy high-quality games without needing expensive hardware. By streaming games directly, this trend has made gaming more accessible and convenient – no downloads, no installations, just instant play.

Mobile gaming continued to lead the charge, contributing over 50% of total gaming revenue. The ease of playing on smartphones has expanded gaming’s reach, driving a projected 10% revenue increase this year alone.

Moreover, global gaming tournaments saw significant participation from Indian players and audiences. These international platforms showcased India’s growing gaming talent and attracted global investments and sponsorships, strengthening India’s position on the world stage.

With PM Modi encouraging India’s youth to take the lead in game creation and global expansion, the country is emerging as a key player in the gaming world, driven by innovation and local talent.

These developments demonstrated that 2024 was all about making gaming more inclusive, accessible, and innovative while connecting India to the global gaming arena, setting the stage for even greater growth in the coming years.

PokerBaazi’s performance in 2024

2024 has been a landmark year for PokerBaazi, filled with achievements that reflect our passion for Poker, innovation, and our ever-growing community of players.

PokerBaazi has been at the forefront of the Indian poker revolution and we completed 10 amazing years. Not just commemorating a decade of excellence but we also achieved the highest concurrent player volume. This accomplishment stands as a testament to the unwavering trust and enthusiasm of our dynamic player community, now surpassing 45 lakh users.

Our flagship events like G.O.A.T. (Greatest of All Tournaments), made history by becoming the biggest poker tournament in India, setting new benchmarks for competition and engagement. Additionally, our partnership with the prestigious World Poker Tour (WPT) gave our players the chance to experience world-class tournaments and showcase their skill at global platforms.

We also witnessed season one of The Circuit – an electrifying clash of India’s top Poker professionals as they battle it out in high-stakes actionacross global Poker destinations. It was televised digitally on YouTube and PokerTV.

Moreover, not just for the company, but a major boost for the sport, as mentioned above, Poker being recognized by the International Mind Sports Association (IMSA) as a Mind Sport has reinforced Poker’s skill-based nature and further legitimizes the sport in the eyes of the global community.

As we reflect on this year’s successes, we’re proud to have indigenously built one of the best Poker platforms in the world. Looking ahead, we remain committed to delivering exceptional experiences, fostering an inclusive community, and pushing the boundaries of poker innovation in India.

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