The online gaming industry in India is expanding rapidly, boosted by the Covid-19 pandemic. The market is projected to reach US$3.1 billion by 2023, according to capital markets and investment group CLSA.
CLSA’s report notes that the Indian mobile gaming market grew under the lockdown period, with an estimated 365 million mobile gaming users in the country in fiscal 2020. The industry is currently valued at $1.2 billion.
Driving the surge are names such as Dream11, a fantasy gaming manufacturer, and Nazara Technologies, an up-and-coming player in Africa and North America. Nazara’s products include eSports and interactive gaming.
Indian players play for an average of 8.5 hours a week, sometimes for three or more hours at a time.
