Metaverse Gaming - India | Statista Market Forecast

The value of the Metaverse Gaming market in India is projected to reach US$615.5m by 2024.
It is expected to experience an annual growth rate (CAGR 2024-2030) of 42.49%, resulting in a projected market volume of US$5.2bn by 2030.
In 2024, the market volume is projected to be US$7.5bn, with United States generating the most value.
In the Metaverse Gaming market in India, the number of users is expected to reach 171.6m users by 2030.
The user penetration rate is predicted to be 3.7% in 2024 and is expected to increase to 11.3% by 2030.
The average value per user (ARPU) is projected to be US$11.4.
India is experiencing a surge in Metaverse Gaming, with a growing number of players engaging in virtual worlds and exploring immersive experiences.

Definition:

The Gaming market refers to the playing of video games or other interactive experiences within virtual reality environments, such as virtual worlds, social VR platforms, and other immersive digital spaces. This definition includes traditional single-player and multiplayer games as well as more open-ended virtual worlds, where players can interact with each other and the environment in a variety of ways. Gaming in the metaverse can be experienced through different hardware, such as VR headsets, smartphones, and computers, and can also include new forms of gaming such as social gaming, multiplayer gaming, and location-based gaming.

Structure:

The Gaming market includes the markets Action Games, Adventure Games, Casual Games, Role-playing Games, Simulation Games, Sports & Racing Games and Strategy Games. Each genre has different games published that are classified as metaverse games in respective metaverse applications, or individual games.

Additional Notes:

The market comprises market sizes, users, average revenue per user, and penetration rates. Market sizes are generated through in-app purchases and consumer spending on apps, games, and items. Market numbers about the Gaming market can also be found in the Digital Market Insights. Key players in the market are games like Fortnite, Roblox or Minecraft. Use the info button right next to the boxes for more information on the data displayed.

Games directly in metaverse considered apps, such as games in Roblox
Open-world games, shaped by users, such as Fortnite
Sandbox games, such as Minecraft
Social virtual reality games, such as VRChat

Open-world games, with a story line, such as World of Warcraft
All other non related metaverse games, such as Call of Duty
Non-metaverse related browser games, such as Forge of Empires

The Metaverse Gaming market in India is experiencing significant growth and development due to several key factors.

Customer preferences: Customers in India are increasingly drawn to the immersive and interactive experiences offered by the Metaverse Gaming market. The ability to create personalized avatars, explore virtual worlds, and engage in multiplayer gaming experiences is highly appealing to Indian gamers. Additionally, the social aspect of the Metaverse Gaming market, which allows users to connect and interact with friends and other players, is also a major draw for customers in India.

Trends in the market: One major trend in the Metaverse Gaming market in India is the rise of mobile gaming. With the increasing availability of affordable smartphones and high-speed internet connectivity, more Indians are accessing Metaverse Gaming platforms through their mobile devices. This trend is driving the growth of mobile gaming platforms and the development of mobile-friendly Metaverse Gaming experiences. Another trend in the market is the integration of virtual reality (VR) and augmented reality (AR) technologies. Indian gamers are increasingly interested in immersive experiences that blur the lines between the real world and the virtual world. The integration of VR and AR technologies into Metaverse Gaming platforms allows for a more realistic and engaging gaming experience, further driving the growth of the market.

Local special circumstances: India has a large and rapidly growing population of young people, many of whom are avid gamers. This demographic factor contributes to the growth of the Metaverse Gaming market in the country. Additionally, the increasing availability of affordable internet connectivity and the government's Digital India initiative have played a significant role in expanding the reach of Metaverse Gaming platforms to a wider audience in India.

Underlying macroeconomic factors: India's growing economy and rising disposable incomes have also contributed to the development of the Metaverse Gaming market. As more Indians have access to discretionary income, they are willing to spend on entertainment and leisure activities, including Metaverse Gaming. This has created a favorable environment for the growth of the market. In conclusion, the Metaverse Gaming market in India is experiencing significant growth and development due to customer preferences for immersive and interactive gaming experiences, trends such as mobile gaming and the integration of VR and AR technologies, local special circumstances including a large and young population of gamers, and underlying macroeconomic factors such as a growing economy and rising disposable incomes.

Data coverage:

Figures are based on in-app spending, consumer spending, in-game spending, app downloads, and investment and funding data.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use reports, third-party studies, and research companies. Next, we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, and internet penetration rates. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are consumer spending per capita, level of digitalization, and cloud revenues.

Additional Notes:

The market is updated twice per year in case market dynamics change. Consumer Insights data is unbiased for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

For everybody who spends a lot of time in digital worlds – for example via gaming and socializing in-game – the concept of the metaverse, a virtual world where physical and digital worlds come together, is nothing new. In-game hangouts in massively multiplayer online games (MMO) and other multiplayer games have been a vital part of the gaming community for years, and the activity received a boost during the COVID-19 pandemic when people turned to online worlds to connect with each other. Overall, these online game hangouts are an important step along the journey to metaverse gaming.