India has always been a giant in mobile gaming volume. Now, it’s finally catching up in revenue too. MIXI Global Investments (MGI) has released “India’s State of Play,” a new report authored by Naavik and powered by Sensor Tower, revealing that India’s gaming market is shifting from pure scale to genuine monetization.
Table of Contents
The Big Number: $2.4 Billion by 2029
Between 2020 and 2025, in-app purchase revenue more than doubled even as download volumes stayed roughly steady — a clear sign that one of the world’s largest gaming audiences is finally starting to spend. Combined in-app and advertising revenue hit around $1.1 billion in 2025, is projected to reach $1.5 billion in 2026, and is on track to touch $2.4 billion by 2029.
Mobile Gaming : Overview
| Detail | Information |
|---|---|
| Active Players | 600 million (+9% YoY) |
| 2025 Mobile Installs | ~8 billion (2nd only to China) |
| 2025 Revenue | ~$1.1 billion |
| 2026 Projected Revenue | ~$1.5 billion |
| 2029 Projected Revenue | $2.4 billion |
| Shooter Genre Share | ~43% of in-app spending |
| Fastest-Growing Genre | Geolocation (+75% YoY) |
Beyond Shooters: Where the Real Growth Is
Shooter titles like Free Fire MAX and Battlegrounds Mobile India still dominate spending, but the growth story now lies elsewhere. The 4X strategy subgenre grew 77% year-over-year, MOBA revenue more than tripled, and card battlers grew over 90%. Geolocation games rode 75% growth on the back of localized live operations, while simulation titles surged thanks to Roblox’s breakout year in India.
A More Diverse Player Base
India’s gaming population still skews young and male, but that’s shifting. Puzzle games now draw close to 45% female players, lifestyle titles are approaching gender parity, and puzzle audiences skew notably older, with more than half of players aged 35 and above.
Local Titles Are Winning Big
Culturally rooted games continue to outperform global franchises on sheer reach — Ludo King and Cricket League lead India’s download charts, and Indian studios built five of 2025’s ten most-downloaded games. “Made in India” titles like ScarFall 2.0 are also raising the bar with production values aimed squarely at domestic players.
“That combination of scale and diversification is what makes this moment worth watching,” said Tomoharu Urabe, Managing Director of Investment at MIXI Global Investments.
The report also flags India’s booming developer ecosystem — now over 2,000 companies employing 130,000+ professionals — alongside adjacent categories like microdramas, where India is already the world’s largest market by downloads. For broader context on how mobile gaming has evolved globally, this local surge mirrors a worldwide shift toward smartphone-first play.
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FAQs
How big will India’s gaming market be by 2029?
It’s projected to reach $2.4 billion in combined in-app and advertising revenue.
Which gaming genre is growing fastest in India?
Geolocation games led 2025 growth at 75%, alongside strong gains in MOBA and card battler genres.
