DUBLIN, IRELAND: Research and Markets has announced the addition of the "Worldwide Market Forecasts for the Video Game and Interactive Entertainment Industry" report to its offering.
This series of reports provides detailed worldwide five year forecasts for the video game market and includes one year of updates and new forecasts. The price includes most recent updates (June 2008) plus one year of updates and Historical Retail Sales Report.
Executive summary
Report forecasts video game market to reach $57 billion in 2009
A series of new reports forecasts worldwide video game and interactive entertainment industry revenue to reach $57 billion in 2009. This forecast includes revenue from video game hardware and software, dedicated portable system hardware and software, PC games, and online PC and console games in 25 countries. According to DFC, there are now 11 countries that have annual video game revenue in excess of $1 billion.
With high spending on expensive hardware and a slumping economy, there was some concern that consumers would not have enough money to buy software products. This does not appear to be the case.
"Consumer spending on software is at record levels and the game business seems to actually benefit from a recession because games are a relatively cheap form of home entertainment," said DFC analyst David Cole.
The report forecasts sales for each of the major game platforms. The Nintendo Wii is expected to be the number one selling console system of this generation. "The Wii does not appear to be a fad and it has the chance to be one of the best selling systems of all-time" says Cole. However, that does not mean the other systems will not do well. The Sony PlayStation 3 is expected to equal the Wii in annual software sales by 2012. Meanwhile, the Microsoft Xbox 360 remains a leading player in some of the top markets, most notably the US and UK.
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