Game industry to reach $40 billion annually by 2012

The gaming industry is expected to reach $40 billion in annual revenues globally by 2012, according to market research firm TMNG.

The mobile games market is expected to grow 24.6 percent annually through 2012.

When researching mobile and regular modes of gaming platforms, TMNG discovered that increased network access and faster broadband offerings played a huge role in overall growth.

"Despite the current economic downturn, gaming has proven to be resilient in these trying times and is the leading entertainment segment that is fueling growth," said TMNG's Rich Nespola.

"The expansion of casual games, simpler user interfaces and the proliferation of innovative business models is broadening the gamer demographic. The timing is ripe for service providers to hedge the business cycle."

Research also revealed that the player demographic is changing in general, with women making up 50 percent of the overall user base.

The average age of gamers was discovered to be a median average of 33 years of age.