This report was recently updated on April 27 2024 with the latest and most recent
market numbers
India Metaverse in Gaming Market Size, Trends & Analysis - Forecasts to 2029 By Software (Extended Reality Software, Gaming Engines, 3D Mapping, Modeling, and Reconstruction, Financial Platforms, and Metaverse Platforms), By Hardware (AR Devices, VR Devices, MR Devices, and Displays), and By Game Genre (Action, Adventure, Casual, Role-playing, Simulation, Sports & Racing, and Strategy), Competitive Landscape, Company Market Share Analysis, and End User Analysis
The India metaverse in gaming market is projected to grow at a CAGR of 40.1% from 2024 to 2029.
Increased internet penetration in India broadens access to online gaming platforms, driving the growth of the market. The increased availability of internet connections allows more people to participate in different gaming experiences, generating a larger and more inclusive gaming community. This trend is a crucial driver of the India’s metaverse gaming market growth.
The increasing use of low-cost cell phones, combined with low-cost data plans, is contributing to the gaming industry in India. This convergence enables a bigger audience to participate in metaverse gaming, lowering barriers to entry. Affordable devices and data plans encourage greater involvement, creating a dynamic and inclusive gaming environment.
India's large and young population creates a strong metaverse gaming demography, with a sizable proportion of the youth actively participating in gaming activities. The widespread excitement for metaverse gaming among the youth becomes a driving factor behind the industry's expansion. This demographic trend emphasizes gaming's cultural significance and establishes it as a popular form of entertainment among the youth.
Affordability challenges hinder widespread access, limiting the participation of individuals who may find these gaming platforms relatively expensive, impacting the broader inclusivity of the gaming market.
The gaming engines segment is expected to hold the largest share of the market. This is attributed to the importance of gaming engines in game development. These technologies, such as Unity and Unreal, allow developers to create immersive metaverse experiences. As the demand for diverse and compelling virtual environments develops, the usage of complex game engines becomes increasingly necessary.
The extended reality software segment is expected to be the fastest-growing segment in the market from 2024-2029. The growth is attributed to the increasing adoption of immersive technologies. XR, which includes both virtual reality (VR) and augmented reality (AR), improves user experiences by combining the virtual and physical worlds. As the demand for more realistic and dynamic gaming experiences grows, XR software becomes increasingly essential, propelling the market growth.
The VR devices segment is anticipated to be the fastest-growing segment in the market from 2024 to 2029. The segment's growth is due to increasing demand for immersive gaming experiences. As virtual reality (VR) technology progresses, more users are turning to VR gear like headsets and controllers for a more immersive and engaging gaming experience.
The AR devices segment is expected to hold the largest share of the market. This expected growth is due to its ability to augment the real world with virtual elements, enhancing the gaming experience. As augmented reality grows in popularity due to its immersive and interactive characteristics, AR gadgets such as smart glasses and AR headsets are projected to experience increased usage.
The strategy segment is anticipated to be the fastest-growing segment in the market from 2024 to 2029. This is due to a growing demand for cognitively stimulating and engrossing gaming experiences. Strategy games frequently entail complicated decision-making, resource management, and long-term planning, which appeals to a rising audience looking for entertaining and thought-provoking virtual settings.
The sports & racing segment is expected to hold the largest share of the market over the forecast period. This is due to its broad appeal and universal popularity. Sports and racing games appeal to a broad audience, including casual and dedicated players. The genre's ability to imitate real-world sports experiences, enable competitive gaming, and include various interactive features contributes to its largest market share.
Orion InfoSolutions, TCS, Contus, Travancore Analytics, RAW Studio, Zuraverse, alter.game, Metaverts, Retcon, and Parallel Galaxies, among others, are some of the key players operating in the India metaverse in gaming market.
Please note: This is not an exhaustive list of companies profiled in the report.
In January 2024, Orion InfoSolutions, a game development company, expanded its portfolio to offer affordable game development services. The company aims to make high-quality game creation accessible to independent developers, startups, and established gaming companies. Services include mobile game development, PC and console game development, Ludo game development, metaverse game development, 2D and 3D game development, and custom game development.
In July 2023, Raw iGaming acquired FunFair Games' multiplayer game portfolio, expanding its arcade offerings with popular titles like Wheel of Steal, Astroboomers to the Moon, and Hugo Up & Away. This strategic acquisition follows Raw's recent purchases of Green Jade Game's skill-based arcade games and Spigo's skill-games platform.
1 STRATEGIC INSIGHTS ON NEW REVENUE POCKETS
1.1 Strategic Opportunity & Attractiveness Analysis
1.1.1 Hot Revenue Pockets
1.1.2 Market Attractiveness Score
1.1.3 Revenue Impacting Opportunity
1.1.4 High Growing Region/Country
1.1.5 Competitor Analysis
1.1.6 Consumer Analysis
1.2 Global Market Estimates' View
1.3 Strategic Insights across Business Functions
1.3.1 For Chief Executive Officers
1.3.2 For Chief Marketing Officers
1.3.3 For Chief Strategy Officers
1.4 Evaluate the Potential of your Existing Business Lines vs. New Lines to Enter Into
2 TECHNOLOGICAL TRENDS
2.1 Technological Adoption Rate
2.2 Current Trend Impact Analysis
2.3 Future Trend Impact Analysis
3 INDIA MARKET OUTLOOK
3.1 Market Pyramid Analysis
3.1.1 Introduction
3.1.2 Adjacent Market Opportunities
3.1.3 Ancillary Market Opportunities
3.2 Demand Side Analysis
3.2.1 Market Drivers: Impact Analysis
3.2.2 Market Restraints: Impact Analysis
3.2.3 Market Opportunities: Impact Analysis
3.2.4 Market Challenges: Impact Analysis
3.3 Supply Side Analysis
3.3.1 Porter’s Five Forces Analysis
3.3.1.1 Threat of New Entrants
3.3.1.2 Threat of New Substitutes
3.3.1.3 Bargaining Power of Suppliers
3.3.1.4 Bargaining Power of Buyers
3.3.1.5 Intensity of Competitive Rivalry
3.3.2 SWOT Analysis; By Factor (Political & Legal, Economic, and Technological)
3.3.2.1 Political Landscape
3.3.2.2 Economic Landscape
3.3.2.3 Social Landscape
3.3.2.4 Technology Landscape
3.3.3 Value Chain Analysis
3.3.4 Trend Analysis
3.3.5 Gap Analysis
3.3.6 Cost Analysis
4 INDIA METAVERSE IN GAMING MARKET, BY HARDWARE
4.1 Introduction
4.2 Metaverse in Gaming Market: Hardware Scope Key Takeaways
4.3 Revenue Growth Analysis, 2023 & 2029
4.4 AR Devices
4.4.1 AR Devices Market Estimates and Forecast, 2021-2029 (USD Million)
4.5 VR Devices
4.5.1 VR Devices Market Estimates and Forecast, 2021-2029 (USD Million)
4.6 MR Devices
4.6.1 MR Devices Market Estimates and Forecast, 2021-2029 (USD Million)
4.7 Displays
4.7.1 Displays Market Estimates and Forecast, 2021-2029 (USD Million)
5 INDIA METAVERSE IN GAMING MARKET, BY SOFTWARE
5.1 Introduction
5.2 Metaverse in Gaming Market: Software Scope Key Takeaways
5.3 Revenue Growth Analysis, 2023 & 2029
5.4 Extended Reality Software
5.4.1 Extended Reality Software Market Estimates and Forecast, 2021-2029 (USD Million)
5.5 Gaming Engines
5.5.1 Gaming Engines Market Estimates and Forecast, 2021-2029 (USD Million)
5.6 3D Mapping, Modeling, and Reconstruction
5.6.1 3D Mapping, Modeling, and Reconstruction Market Estimates and Forecast, 2021-2029 (USD Million)
5.7 Financial Platforms
5.7.1 Financial Platforms Market Estimates and Forecast, 2021-2029 (USD Million)
5.8 Metaverse Platforms
5.8.1 Metaverse Platforms Market Estimates and Forecast, 2021-2029 (USD Million)
6 INDIA METAVERSE IN GAMING MARKET, BY GAME GENRE
6.1 Introduction
6.2 Metaverse in Gaming Market: Game Genre Scope Key Takeaways
6.3 Revenue Growth Analysis, 2023 & 2029
6.4 Action
6.4.1 Action Market Estimates and Forecast, 2021-2029 (USD Million)
6.5 Adventure
6.5.1 Adventure Market Estimates and Forecast, 2021-2029 (USD Million)
6.6 Casual
6.6.1 Casual Market Estimates and Forecast, 2021-2029 (USD Million)
6.7 Role-playing
6.7.1 Role-playing Market Estimates and Forecast, 2021-2029 (USD Million)
6.8 Simulation
6.8.1 Simulation Market Estimates and Forecast, 2021-2029 (USD Million)
6.9 Sports & Racing
6.9.1 Sports & Racing Market Estimates and Forecast, 2021-2029 (USD Million)
6.10 Strategy
6.10.1 Strategy Market Estimates and Forecast, 2021-2029 (USD Million)
7 COMPETITIVE LANDCAPE
7.1 Company Market Share Analysis
7.2 Four Quadrant Positioning Matrix
7.2.1 Market Leaders
7.2.2 Market Visionaries
7.2.3 Market Challengers
7.2.4 Niche Market Players
7.3 Vendor Landscape
7.3.1 North America
7.3.2 Europe
7.3.3 Asia Pacific
7.3.4 Rest of the World
7.4 Company Profiles
7.4.1 Orion InfoSolutions
7.4.1.1 Business Description & Financial Analysis
7.4.1.2 SWOT Analysis
7.4.1.3 Products & Services Offered
7.4.1.4 Strategic Alliances between Business Partners
7.4.2 TCS
7.4.2.1 Business Description & Financial Analysis
7.4.2.2 SWOT Analysis
7.4.2.3 Products & Services Offered
7.4.2.4 Strategic Alliances between Business Partners
7.4.3 Contus
7.4.3.1 Business Description & Financial Analysis
7.4.3.2 SWOT Analysis
7.4.3.3 Products & Services Offered
7.4.3.4 Strategic Alliances between Business Partners
7.4.4 Travancore Analytics
7.4.4.1 Business Description & Financial Analysis
7.4.4.2 SWOT Analysis
7.4.4.3 Products & Services Offered
7.4.4.4 Strategic Alliances between Business Partners
7.4.5 RAW Studio
7.4.5.1 Business Description & Financial Analysis
7.4.5.2 SWOT Analysis
7.4.5.3 Products & Services Offered
7.4.5.4 Strategic Alliances between Business Partners
7.4.6 Zuraverse
7.4.6.1 Business Description & Financial Analysis
7.4.6.2 SWOT Analysis
7.4.6.3 Products & Services Offered
7.4.6.4 Strategic Alliances between Business Partners
7.4.7 Alter.game
7.4.7.1 Business Description & Financial Analysis
7.4.7.2 SWOT Analysis
7.4.7.3 Products & Services Offered
7.4.7.4 Strategic Alliances between Business Partners
7.4.8 Metaverts
7.4.8.1 Business Description & Financial Analysis
7.4.8.2 SWOT Analysis
7.4.8.3 Products & Services Offered
7.4.8.4 Strategic Alliances between Business Partners
7.4.9 Retcon
7.4.9.1 Business Description & Financial Analysis
7.4.9.2 SWOT Analysis
7.4.9.3 Products & Services Offered
7.4.9.4 Strategic Alliances between Business Partners
7.4.10 Parallel Galaxies
7.4.10.1 Business Description & Financial Analysis
7.4.10.2 SWOT Analysis
7.4.10.3 Products & Services Offered
7.4.10.4 Strategic Alliances between Business Partners
7.4.11 Other Companies
7.4.11.1 Business Description & Financial Analysis
7.4.11.2 SWOT Analysis
7.4.11.3 Products & Services Offered
7.4.11.4 Strategic Alliances between Business Partners
8 RESEARCH METHODOLOGY
8.1 Market Introduction
8.1.1 Market Definition
8.1.2 Market Scope & Segmentation
8.2 Information Procurement
8.2.1 Secondary Research
8.2.1.1 Purchased Databases
8.2.1.2 GMEs Internal Data Repository
8.2.1.3 Secondary Resources & Third Party Perspectives
8.2.1.4 Company Information Sources
8.2.2 Primary Research
8.2.2.1 Various Types of Respondents for Primary Interviews
8.2.2.2 Number of Interviews Conducted throughout the Research Process
8.2.2.3 Primary Stakeholders
8.2.2.4 Discussion Guide for Primary Participants
8.2.3 Expert Panels
8.2.3.1 Expert Panels Across 30+ Industry
8.2.4 Paid Local Experts
8.2.4.1 Paid Local Experts Across 30+ Industry Across each Region
8.3 Market Estimation
8.3.1 Top-Down Approach
8.3.1.1 Macro-Economic Indicators Considered
8.3.1.2 Micro-Economic Indicators Considered
8.3.2 Bottom Up Approach
8.3.2.1 Company Share Analysis Approach
8.3.2.2 Estimation of Potential Product Sales
8.4 Data Triangulation
8.4.1 Data Collection
8.4.2 Time Series, Cross Sectional & Panel Data Analysis
8.4.3 Cluster Analysis
8.5 Analysis and Output
8.5.1 Inhouse AI Based Real Time Analytics Tool
8.5.2 Output From Desk & Primary Research
8.6 Research Assumptions & Limitations
8.7.1 Research Assumptions
8.7.2 Research Limitations
LIST OF TABLES
1 India Metaverse in Gaming Market, By Hardware, 2021-2029 (USD Million)
2 AR Devices Market, 2021-2029 (USD Million)
3 VR Devices Market, 2021-2029 (USD Million)
4 MR Devices Market, 2021-2029 (USD Million)
5 Displays Market, 2021-2029 (USD Million)
6 India Metaverse in Gaming Market, By Software, 2021-2029 (USD Million)
7 Extended Reality Software Market, 2021-2029 (USD Million)
8 Gaming Engines Market, 2021-2029 (USD Million)
9 3D Mapping, Modeling, and Reconstruction Market, 2021-2029 (USD Million)
10 Financial Platforms Market, 2021-2029 (USD Million)
11 Metaverse Platforms Market, 2021-2029 (USD Million)
12 India Metaverse in Gaming Market, By Game Genre, 2021-2029 (USD Million)
13 Action Market, 2021-2029 (USD Million)
14 Adventure Market, 2021-2029 (USD Million)
15 Casual Market, 2021-2029 (USD Million)
16 Role-playing Market, 2021-2029 (USD Million)
17 Simulation Market, 2021-2029 (USD Million)
18 Sports & Racing Market, 2021-2029 (USD Million)
19 Strategy Market, 2021-2029 (USD Million)
20 Country Analysis, 2021-2029 (USD Million)
21 Orion InfoSolutions: Products & Services Offering
22 TCS: Products & Services Offering
23 Contus: Products & Services Offering
24 Travancore Analytics: Products & Services Offering
25 RAW Studio: Products & Services Offering
26 ZURAVERSE: Products & Services Offering
27 Alter.game : Products & Services Offering
28 Metaverts: Products & Services Offering
29 Retcon, Inc: Products & Services Offering
30 Parallel Galaxies: Products & Services Offering
31 Other Companies: Products & Services Offering
LIST OF FIGURES
1 India Metaverse in Gaming Market Overview
2 India Metaverse in Gaming Market Value From 2021-2029 (USD Million)
3 India Metaverse in Gaming Market Share, By Hardware (2023)
4 India Metaverse in Gaming Market Share, By Software (2023)
5 India Metaverse in Gaming Market Share, By Game Genre (2023)
6 Technological Trends In India Metaverse in Gaming Market
7 Four Quadrant Competitor Positioning Matrix
8 Impact Of Macro & Micro Indicators On The Market
9 Impact Of Key Drivers On The India Metaverse in Gaming Market
10 Impact Of Challenges On The India Metaverse in Gaming Market
11 Porter’s Five Forces Analysis
12 India Metaverse in Gaming Market: By Hardware Scope Key Takeaways
13 India Metaverse in Gaming Market, By Hardware Segment: Revenue Growth Analysis
14 AR Devices Market, 2021-2029 (USD Million)
15 VR Devices Market, 2021-2029 (USD Million)
16 MR Devices Market, 2021-2029 (USD Million)
17 Displays Market, 2021-2029 (USD Million)
18 India Metaverse in Gaming Market: By Software Scope Key Takeaways
19 India Metaverse in Gaming Market, By Software Segment: Revenue Growth Analysis
20 Extended Reality Software Market, 2021-2029 (USD Million)
21 Gaming Engines Market, 2021-2029 (USD Million)
22 3D Mapping, Modeling, and Reconstruction Market, 2021-2029 (USD Million)
23 Financial Platforms Market, 2021-2029 (USD Million)
24 Metaverse Platforms Market, 2021-2029 (USD Million)
25 India Metaverse in Gaming Market: By Game Genre Scope Key Takeaways
26 India Metaverse in Gaming Market, By Game Genre Segment: Revenue Growth Analysis
27 Action Market, 2021-2029 (USD Million)
28 Adventure Market, 2021-2029 (USD Million)
29 Casual Market, 2021-2029 (USD Million)
30 Role-playing Market, 2021-2029 (USD Million)
31 Simulation Market, 2021-2029 (USD Million)
32 Sports & Racing Market, 2021-2029 (USD Million)
33 Strategy Market, 2021-2029 (USD Million)
34 Country Segment: Revenue Growth Analysis
35 India Metaverse in Gaming Market: Country Analysis
36 India Metaverse in Gaming Market Overview
37 Mexico Metaverse in Gaming Market, By Game Genre
38 Four Quadrant Positioning Matrix
39 Company Market Share Analysis
40 Orion InfoSolutions: Company Snapshot
41 Orion InfoSolutions: SWOT Analysis
42 Orion InfoSolutions: Geographic Presence
43 TCS: Company Snapshot
44 TCS: SWOT Analysis
45 TCS: Geographic Presence
46 Contus: Company Snapshot
47 Contus: SWOT Analysis
48 Contus: Geographic Presence
49 Travancore Analytics: Company Snapshot
50 Travancore Analytics: Swot Analysis
51 Travancore Analytics: Geographic Presence
52 RAW Studio: Company Snapshot
53 RAW Studio: SWOT Analysis
54 RAW Studio: Geographic Presence
55 Zuraverse: Company Snapshot
56 Zuraverse: SWOT Analysis
57 Zuraverse: Geographic Presence
58 Alter.game : Company Snapshot
59 Alter.game : SWOT Analysis
60 Alter.game : Geographic Presence
61 Metaverts: Company Snapshot
62 Metaverts: SWOT Analysis
63 Metaverts: Geographic Presence
64 Retcon, Inc.: Company Snapshot
65 Retcon, Inc.: SWOT Analysis
66 Retcon, Inc.: Geographic Presence
67 Parallel Galaxies: Company Snapshot
68 Parallel Galaxies: SWOT Analysis
69 Parallel Galaxies: Geographic Presence
70 Other Companies: Company Snapshot
71 Other Companies: SWOT Analysis
72 Other Companies: Geographic Presence
The Global Metaverse in Gaming Market has been studied from the year 2019 till 2028. However, the CAGR provided in the report is from the year 2023 to 2028. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Metaverse in Gaming Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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