Video Games a $68.3 Bln Biz by 2012?

By Geoff Duncan June 18, 2008

Business consulting firm PricewaterhouseCoopers is making some forecasts about the future of the video game industry—and the picture is a rosy one. According to the company’s upcoming report “Global Entertainment and Media Outlook: 2008–2012,” video games are poised to jump from a $41.9 billion global industry to a $68.3 billion industry by the year 2012. And here’s an interesting tidbit: neither PC-based games nor the United States will be leading the way.

PricewaterhouseCoopers sees the U.S. falling behind other parts of the world in terms of the overall growth rate of its video game market, trundling along at about 7.9 percent annually to a total of $17.7 billion in 2012. But the company sees Latin America and the Asia Pacific region as the fastest growing game markets, with double-digit growth rates expected in both regions—and that’s not just video games, but also Internet advertising. PricewaterhouseCoopers is also anticipating double-digital annual growth rates for video gaming in the central and eastern European markets, along with the Middle East and Africa.

The company also sees the market for PC-based video games declining over the next four years, shrinking by 1.2 percent a year from $3.8 billion in 2007 to $3.6 billion in 2012.

PricewaterhouseCoopers attributes its forecast shifts in the video game market to an increase in mobile gaming, increased online gaming as broadband penetrates even deeper into residential households, and an increase in massively online multiplayer games that earn revenue through subscription fees and micro-transactions.

And although the company doesn’t make any forecasts for what specific games we might be playing in 2012, it does note that franchises have historically performed very well in the market, so expect sequels to Guitar Hero,Grand Theft Auto,Halo,Mario, and super hero games to continue dominating the landscape.

Editors' Recommendations

Topics

Nintendo

Former Digital Trends Contributor

Geoff Duncan writes, programs, edits, plays music, and delights in making software misbehave. He's probably the only member…

Gaming

Amazon’s Fallout success reveals a big problem with the video game business

The cast of Fallout.

April's biggest video game isn't a new release like Tales of Kenzera: Zau or Stellar Blade. Instead, it's a series that hasn't gotten a new entry in years.

Fallout is currently enjoying a wave of mainstream attention thanks to its surprisingly fun Amazon TV adaptation. Returning players and newly-won-over fans alike are returning to classics like Fallout 4 and New Vegas to scratch their post-apocalyptic itches. It's the moment any video game publisher dreams of, but there's just one problem: Bethesda can't capitalize on the moment.

Gaming

Every rumored video game console: Nintendo Switch 2, PS5 Pro and more

A PS5 sits on a table.

History would tell you that 2024 isn't a year where you should expect a lot of new game consoles. We're smack dab in the middle of a console generation and we've already seen the PlayStation 5 and the Xbox Series S get upgrades during it. A wave of brand new consoles is likely four years away if the precedent set by previous generations holds up.

And yet, we're swimming in hardware rumors these days. Sony, Microsoft, and Nintendo all have rumored systems in the works. On top of that, we're on the verge of an early second generation for portable PCs like the Steam Deck. Companies like Lenovo and Asus are also plotting follow-ups to their own devices. It's a lot to keep track of, with scattered reports sharing rumors about the status of each. To help you stay on top of the news, we've rounded up every major gaming device that's currently in the works. You can expect to see some -- if not all -- of these in the next year.
Nintendo Switch 2

Gaming

The best video game movies of all time

Ryan Reynolds as Pikachu

For as long as video games have existed, film producers have adapted them for the big screen. The rationale behind these decisions is clear, as big-name video game properties have the potential to bring a lot of fans into the theater. But they have seen limited success over the years.

Some video game movie adaptations have managed to capture the spirit of their source material and deliver an exciting take on the franchise. Others, however, have treated the video games as a vague reference point, resulting in underwhelming films that disappointed the average moviegoer, as well as longtime players.