World market for video gaming worth €54bn

The global video gaming market is now worth an estimated €53.9bn a year and is set to grow 11.1% a year until 2017, boosted by a new generation of consoles and the increasing popularity of online games.

Sony, Nintendo, and Microsoft, which are jostling for control of the gaming market, have each released the latest versions of their consoles ahead of the Christmas shopping season.

The wave of new devices is expected to keep the market buoyant until 2017, IDATE said. The market is expected to soar to €82.1bn in 2017, according to France-based digital research and consultancy firm IDATE.