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BizReport : Trends & Ideas archives : October 07, 2015

VR, mobile to boost game industry revenues past $100 billion by 2018

New data from Juniper Research shows the continuing growth of the digital gaming sector, aided by consumer adoption of mobile and virtual reality technology.

by Helen Leggatt

Figures released by Juniper Research show the sector will rise by 8% over the next two years from this year's $80 billion to $104 billion by 2018. The PC industry will account for nearly half (42%) of games revenues this year while the mobile market share will increase by nearly 35% by 2020 with revenues of around $27 billion by 2018.

But that's not to say that consoles are on their way out. Software revenue generated by the console sector is forecast to reach $27 billion by 2018, up from $21 billion this year. Juniper believes the console industry will continue to evolve and benefit from new technology such as virtual reality.

"As digital purchases gain favor with consumers, we will see a drive in sales during the lifecycle of the current generation of consoles. Newly emerging technologies such as Virtual Reality will aid in consumer adoption, as the console continues to evolve to become the core home entertainment center," says Juniper research author Lauren Foye.

Image via Shutterstock

Tags: game industry, virtual reality

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