Online gaming rakes in over $14.5 billion in 2010

Parents of many of the gaming industry professionals would scold them by saying, "You can never make a living playing video games." The industry overcame that stigma many years ago, but online gaming still carried that stench of worthlessness. However, that is no longer the case. ABI Research of Arizona says that online gaming is expected to exceed $14.5 billion this year.

The most staggering figure is the projected influence MMOs have in the overall online gaming industry. A report by ABI Research claims, "The MMO market is expected to be larger in 2010 at $7.6 billion, but will show a lower CAGR of 12.8%, reaching almost $14 billion by 2015." Although the report downplays MMOs, this does mean that over half the revenue for online gaming this year will come from MMOs, and the total MMO revenue will potentially double in just five years.

Games through connected devices, like the PlayStation 3, have promising potential as well, according to the report. This bodes well for cross-platform games like DC Universe Online, but the report also says that console online games will only make up 10% of the total online gaming market.

Next time your parents tell you that video games will never amount to anything, you have a couple of reports to show them that claim otherwise. But good luck convincing them.
This article was originally published on Massively.