A new analyst report suggests that the worldwide market for video games will exceed $60 billion this year, over both hardware and software sales.
Colin Sebastian, newly moved to analyst firm Robert W. Baird & Co. also noted that the company expects the video games industry to generate more than $80 billion in 2014.
For the next 3-5 years, he suggested that online game revenues will increase by around 15-20 percent each year, with DLC and mobile titles the biggest factors, along with social network games.
Concerning the next few months, Sebastian believes that the industry will see positive growth following a slow summer, thanks to a barrage of "drive titles" such as Modern Warfare 3, Battlefield 3 and Uncharted 3.
Overall, he noted that the video game industry is the only segment of the entertainment sector that is showing "clear growth."
"Unlike newspapers, magazines, TV and radio, video game sales have accelerated since the advent of online and mobile platforms," he said. "And yes, we believe another video game cycle is likely, with Sony already in development on a next-generation PlayStation."