The gaming sector could be showing signs of a slowdown, according to new figures from PricewaterhouseCoopers.
The revised forecast, published in the Australian Financial Review, suggest that the gaming market may not be as robust as originally thought – with projected growth expected to remain at 3.4 per cent annually through 2017.
This would see the sector reach $1.55 billion within the next four years – a drop of $700 million from the previous forecast.
Speaking to the publication, PricewaterhouseCoopers executive director Megan Brownlow said consumer confidence across the entire media industry, including games, remains relatively subdued.
She said: “Even though, by external and world standards, our economy is doing quite well, consumers don’t feel that and that can curb spending.”
Ms Brownlow also noted that the relative strength of the Australian dollar makes finding local talent to work on the back end of games development a challenge.
However, the anticipated launch of several new games consoles over the next 12 months could give the market a short-term boost, she noted.
Sony is gearing up to launch the new PlayStation 4, while Microsoft’s Xbox One is also expected to make waves with consumers.
But unless the consoles have new, game-changing features – like the move from traditional games consoles to multimedia devices that we saw a few years ago – it is likely their momentum will be relatively short-lived, she said.
The Xbox One is said to be Microsoft’s most expensive games console ever, and is scheduled to launch in Australia in November 2013. According to Tech Radar, no specific release date has been announced yet, but the console is widely expected to be made available in time for the Christmas shopping rush.