Digital ‘will be worth $50 billion by 2016’

The global digital games market will more than double over the next five years to $53 billion, a research company has claimed.

In the report, business analysts Ovum said revenues will grow at an annual rate of 17 per cent from $24 billion at the end of 2011.

It also forecasts that revenues from mobile gaming will triple over the next five years to be worth more than $17.5 billion.

“The rise of casual games is continuing apace, driving soaring digital gaming revenues,” said Ovum analyst Mark Little.

“Gaming is fast establishing itself with a much wider mainstream audience, with serious ramifications for other rich-media entertainment such as TV, video and music.

Little added that publishers will increasingly use digital as an outlet to release games as revenue margins can be two to three times higher, whilst online passes were cutting down the threat from the pre-owned game market.