Mobile games "worth $10 billion by 2014"

A Futursource Consulting report has predicted the global mobile games space will be worth $10 billion in the next three years.

The company notes that the App Store alone, without iPad sales, is expected to generate $1.7 billion in revenue this year, accounting for almost 30 percent of total spend in the sector.

Premium games will be unhindered by a "glut" of free content, Futursource said.

“There is no doubt that paid-for apps games are leading the gaming charge,” said Patrik Pfandler, Lead Mobile Analyst at Futuresource, “and our forecasts show apps-based gaming will account for more than 95% of total mobile gaming revenues by 2014 – that’s despite the glut of free apps games out there.

“The growth of in-apps payments is a key ingredient in the commercial success of apps gaming. In the short term we’ll see the rise of the ‘freemium’ business model, where the game is downloaded for free, but incorporates micro-transactions and virtual currencies, encouraging users to unlock additional features, new levels and premium content. In the longer run, we’re going to see ad-funded apps games start to gain more traction as well."

Many more words through the link.