A report from “Big 4” accounting firm PricewaterhouseCoopers entitled “Global Entertainment & Media Outlook 2010-2014” predicts that the global video game market will grow at a rate of 10.6% over the next five years, increasing revenue to $86.8 billion, up from $52.5 billion in 2009.
The total global market for entertainment and media expenditure is expected to rise from $1.4 trillion to $1.7 trillion over the same period. Therefore, it is expected that by 2014, video games will make up at least 5% of all entertainment expenditure. Quite the leap for our formerly niche hobby.
China is expected to have the fastest growing entertainment and media consumption over the period, with annual growth of 12%, while nearby Japan will see the lowest growth, with an estimate annual increase of just 2.8%. North America is expected to be the slowest growing region, but will still remain the largest consumer overall.