The global video game market is expected to grow from $33 billion in 2006 to $47 billion in 2009, according to DFC Intelligence.

The newest generation of video game consoles is the driver to this growth. Based on sales so far, DFC said it had raised its forecast for the Nintendo Wii and the Sony PlayStation 3 and lowered the forecast for Microsoft's Xbox 360.

"The Xbox 360 will need to build a strong base outside North America to avoid being in a fairly distant third," DFC analyst, David Cole, said in a statement.

DFC said the Wii would have the strongest sales through at least 2008, but PlayStation 3 game revenue could grow starting in 2009.

"We could have a situation where the Wii sells more hardware units, but by 2012 the PlayStation 3 is generating more software revenue," Cole stated.

DFC also estimated PC game revenue would exceed $13 billion by 2012. Online game subscriptions, advertising and digital distribution were considered the main revenue drivers.

eMarketer's own global video game revenue estimates for 2009 are right in line with DFC's, at $46 billion. Revenues will jump to $54 billion in 2011, up from $34 billion in 2006.

To learn more about the video game report, click here.