Gaming industry, one of the fastest growing entertainment segments, has emerged as a mass-market form of entertainment and is expected to grow to $46 bn by 2010.

In today's information age, video games have become an integral part of our daily lives and are influencing cultures across nations. Young people are adopting this new form of entertainment quickly and even the middle-aged are being attracted to them. Against this backdrop, the video game industry has become a multi-billion dollar behemoth and traversed from university laboratories to the living rooms. Video games have evolved into the `third space', where virtual excellence wins over reality attracting the young and old alike. It's all for fun, where there is no fear of losing as there is always a next time.

The gaming industry is one of the fast growing entertainment segments, with a market total of $25 bn. It has emerged as a mass-market form of entertainment and leisure for those in the age group of 15-30, across the globe. Leading the gaming industry, video gaming is cyclical in nature as new consoles are launched every five or six years. The last cycle began in 2000, and Sony's PlayStation 2 (PS2) emerged as the clear victor, far outselling Microsoft's Xbox and Nintendo's GameCube. However, in the new cycle, which began in 2006, Microsoft's Xbox 360 has started dominating the market against the PS3 and the Wii consoles. In each cycle, by increasing the power of the hardware, the consoles are adding better graphics and innovative games. The game war has just started and all three players are claiming to be on top.

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