Video Game Market
Video games are very popular and the market has grown continuously since the
end of the video game
crash of 1983. The market
research company NPD estimated that video game hardware, software, and
accessories sold about US$10.3 billion in 2002. This was a 10% increase over the
2001 figure.
The video game market changes over the years as new video game consoles are
introduced. This has happened in cycles of about 5 years or so, in which
multiple manufacturers release their consoles within about a year of each other,
then they and the video game publishers enjoy several years of game sales until
technology has improved enough for a new cycle to begin. At that point, games
for the old consoles generally enjoy some residual sales, but the video game
public as a whole has moved on to the new generation of machines. The current
dominant consoles are: