Niko Partners: India games market exceeds $1bn, forecast to reach $1.2bn by end of 2026

India has cleared a major commercial milestone: games revenue passed $1 billion for the first time in 2025, reaching $1.04 billion after 14.8% year-over-year growth. Niko Partners expects the market to keep climbing to nearly $1.2 billion by the end of 2026, with a longer-range forecast of $1.77 billion by 2030, implying an 11.2% five-year CAGR.

The player base is expanding alongside the money. India had 511 million players last year, with projections above 550 million in 2026 and more than 700 million by 2030. Female players now make up nearly half the audience, up from 43% in 2023, which is a meaningful signal for teams thinking about audience segmentation, onboarding, and content fit.

Mobile remains the main revenue engine, helped by broader digital adoption and rising disposable income in some consumer segments. Even so, monetisation is still early: ARPU was just $2.04 in 2025 and is forecast to reach $2.52 by 2030. At the same time, the market is diversifying beyond battle royale and casual, with non-battle royale mobile games growing from 53.2% of revenue in June 2023 to 62.8% in June 2026.

For developers and publishers, the practical takeaway is that India is no longer just a scale story; it is becoming a genre and platform strategy story too. UGC ecosystems like Roblox and Minecraft are gaining traction with younger players, PC and console audiences are becoming more relevant, and Niko Partners expects government support and esports growth to keep shaping the market. The firm also notes a more cautious player attitude toward generative AI, especially around...