The booming mobile games space combined with the arrival of new home consoles are expected to drive video game market revenue to $111 billion by 2015, says a report from research firm Gartner.
This year, the video game industry will generate $93 billion in revenue, up from $78 billion last year, led by consoles as the fast-rising mobile market.
"This growth is fueled by healthy premium mobile device sales globally and a desire by consumers to play games on these multifunction devices that are capable of displaying increasingly sophisticated game content," says Gartner's Brian Blau.
The mobile games space is expected to surge from $13 billion in revenue this year to $22 billion in 2015.
Meanwhile, the PlayStation 4 and Xbox One, launching in November, will spur a boost in video game console revenue, topping the $55 billion mark in two years.
However, dedicated handheld gaming devices such as the Nintendo 3DS and PlayStation Vita will continue to see declines. Last year, that piece of the market pulled in $17 billion in worldwide revenue. By 2015, it will sink to $12 billion.
- by Brett Molina, USA TODAY