A new report entitled Monetizing the European Market for Virtual Currency has predicted the European digital gaming market will grow to $4.2 billion.
According to the report, Europe's market for digital game content was worth $2.2 billion in 2010, but could grow by 89 percent.
DFC analyst David Cole commented that Europe is "actually underserved" in the digital realm.
Live Gamer president Andrew Schneider said "One of the biggest considerations for consumers is the ease of payment processing.
"Publishers that offer the most flexibility in payment options tend to be far more successful at revenue optimisation.”
The study was a collaborative effort between market research firm DFC Intelligence, online payment processing service Skrill Holdings and micro-transaction service provider Live Gamer. Results were previewed in a press release published by the last. It examined transaction data from 300,000 consumers in 27 countries, as well as surveying 2,800 PC gamers.
The full report is to be presented at GDC on Thursday.