Sweden is fast emerging as the world leader in the gaming sector with at least 75 new companies from the country being added each year to its ecosystem and the industry growing at 20 per cent annually. One in four people in the world has played a game made by Swedes.
In a bid to widen its reach and understand gamers’ preferences, the Embassy of Sweden and Business Sweden along with knowledge partner Moonfrog Labs and Stillfront Group AB organised the first-ever Sweden-India Gaming Day in Delhi.
‘Largest base of gamers’
India’s gaming sector is projected to touch over $850 million when excluding real-money gaming and forecast to reach $1.58 billion growing at a 5-year CAGR of 17 per cent. It is home to the second largest base of gamers with more than 440 million people playing games. A whopping 97 per cent of Indian gamers play games on mobile devices. Anand Adkoli, Chief Operating Officer, Moonfrog Labs said with Sweden’s capacity and readiness to adopt new technologies and India’s affinity for gaming culture, the two countries are poised to drive growth in the gaming industry.
The Sweden-India Gaming Day is a great example of how gaming platforms and policymakers can drive innovation and momentum, he said.
Stalwarts of the gaming industry including Siddharth Mehta from Google India, Dhruv Garg from All India Gaming Federation and Nitin Chopra from Meta shared their insights in a panel discussion on ‘Gaming as a future medium of entertainment’.
The mainstay of the event was the Moonfrog Lab’s Club ludo tournament joined by over 30 celebrated social media influencers and bloggers from India. According to research firm Niko Partners, India’s video game market is the fastest growing by gamers and revenue globally.
“We see the Swedish – Indian connection as a great cultural fit and we’re extremely optimistic about strengthening our position in India going forward,” he said. Moonfrog Labs is an Indian mobile gaming company that has achieved success in developing games for a global audience.
Published on November 22, 2023
