Research obtained by Pricewaterhouse Cooper has revealed that global spending on videogames is predicted to surpass that of the music business by the end of the year.

According to the report, the videogames sector is set to grow above average rates of other mediums till around 2011, attributed to the availability of next-gen consoles, online gaming, in-game ads and wireless play.

Documented by the Hollywood Reporter, the gaming market is anticipated to reach an estimated worth of USD 48.9 billion by 2011 thanks to a growth rate of 9.1 per cent, while the entertainment market as a whole will increase by 6.4 per cent during the same period.

These numbers are not inclusive of hardware and accessories, however.

"Videogaming is one of the most exciting stories in terms of pure growth numbers," said Marcel Fenez, global managing partner at Pricewaterhouse Cooper.

Overall, the Asian Pacific region is expected to see the biggest increase at 18.8 billion (EUR 14 bn). Meanwhile, EMEA regions are forecast gains of 10.2 per cent with the US predicted an increase of 6.4 per cent (12.5 billion) over the same period.