The gaming industry has seen a meteoric rise over the past several years, now worth many billions of dollars. Today, Global Industry Analysts (GIA) projected that it expects the global market for gaming software to be $91.96 billion by 2015. This report follows one from PricewaterhouseCoopers last week, which predicted the global gaming market to hit $73.5 billion by 2013.
A large part of this growth will come from ever increasing installed bases of consoles, higher broadband penetration, and increasing popularity of MMOGs and wireless gaming. Areas in Latin America and Asia-Pacific are expected to drive this growth as they develop.
GIA notes that while the slowing economy has slightly cut into the market for traditional console and PC gaming, online and wireless gaming are expected to expand rapidly. North America and Europe comprise most of the money spent on gaming in 2009, primarily with adoption of consoles such as PS3, Xbox 360 and Wii. MMOGs continue to catch on in East Asia and Japan, while mobile phones and devices like the iPhone are making a huge impact in developing markets.
The complete study, titled "Video Games: A Global Strategic Business Report," reviews all of the major trends in the gaming industry world-wide from 2001 through 2015 for portables, wireless devices, PC and console gaming. More information can be had at www.strategyr.com.
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