The worldwide video games industry is on track to generate $93 billion of revenue in 2013, spurred on by today's worldwide launch of Microsoft's Xbox One and the forthcoming arrival of Sony's PS4 - an increase from $79 billion in 2012, according to new estimates.
Tech analyst Gartner predicts that "strong" console sales, together with mobile gaming and software, will drive the total market to $111 billion by 2015, which will include video game console hardware and software as well as online, mobile and PC games.
"Sony and Microsoft are releasing their game consoles in November and pent-up demand for these new consoles has caused a temporary reduction in game console hardware sales during 2013, but growth will resume during 2014 and sales of existing console hardware are forecast to grow from $15.9 billion today to $22.7 billion in 2015," said Brian Blau, research director at Gartner.
"In stark contrast, dedicated game handheld devices and traditional PC games will play a smaller role in the game market and cease to be important game platforms.
Mobile games are the fastest-growing segment of the market, with revenue set to nearly double between 2013 and 2015 from $13.2 billion to $22 billion.
"As mobile devices (smartphones and tablets) continue to grow, the mobile game category will show the biggest growth due to the entertainment value provided by games compared with other app categories," added Blau.
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