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India’s game market could grow from $3.8B to $9.2B by 2029 | Lumikai
India's game market could grow from $3.8 billion in 2024 to $9.2 billion by 2029, according to a report by Lumikai.
Overall, the new media market is growing at a compound annual growth rate of 16%, said Salone Sehgal, founding general partner at Lumikai, in an interview with GamesBeat. In-app purchases, propelled by mid-core games, grew by 41% year-on-year, and continues to be the fastest growing slice out of the $3.8 billion revenue pie for fiscal year 2024. Salone Sehgal of Lumikai is the first general partner at a game venture fund.The speakers at the Lumikai Insignia event include Oscar-winner SS Rajamouli, Abdullah Alorainy from Saudi Arabia’s Public Investment Fund (which is investing $37 billion in gaming), Crysis co-creator and Crytek founder Cevat Yerli, chip design veteran Raja Koduri who has led graphics/CPU design at Intel, AMD and Apple.
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