Regulatory clarity could unlock $26B in India’s gaming IPOs: WinZO and IEIC report
The report comes as online gaming companies looks to file for public market listings amidst a boom in the country’s gaming landscape.
Amid Indian online gaming companies preparing to list on public bourses, a report by WinZO Games and Interactive Entertainment and Innovation Council (IEIC) showed that investors could unlock $26 billion in gaming IPOs.
The report titled 'India Gaming Market Report: Consolidating Growth, Driving Innovation, Building Resilience' also predicted that the size of the online gaming market could touch $9.1 billion by 2029.
Upon touching this projection, investors would be able to unlock $63 billion in value.
As per the report, India’s only publicly listed company, Nazara Technologies, commands the high premium among globally listed companies.
India is currently home to 591 million gamers, which accounts for about 20% of the global gamers, propelled by rising internet penetration and smartphone usage. Amidst the rising traction for mobile gaming apps, the sector has also witnessed an influx of foreign direct investments (FDI).
The report noted that the sector has received $3 billion in FDI, out of which 85% of the FDI being channelled to the pay-to-play segment.
However, the document also noted the immense untapped potential in India’s mobile-first and youth-driven online gaming market which accounts for only 1.1% of the $300 billion global market.
“Both the India Gaming Market Report, and the India Pavilion at GDC highlight our country’s expanding influence in the global gaming landscape, demonstrating the innovation and scale of homegrown gaming companies. As we continue to push boundaries in technology innovation, IP creation, and engagement, WinZO remains committed to shaping India into a global gaming powerhouse." said WinZO’sPaavan Nanda.
Edited by Jyoti Narayan