Activision has estimated that the video games market is worth $10.4 billion in Europe, compared to $10.1 billion in the US.

The calculation came from Activision's senior VP of global brand management Will Kassoy, taking into account the strength of the UK pound vs. the US dollar.

Kassoy also predicted that, in terms of numbers alone, more games sales will take place outside of the US than in it by the end of ‘this console cycle’, according to GameDaily.

Speaking at the MI6 marketing conference in San Francisco, Kassoy said

"There's a very clear trend that, in calendar year 2007, 40 percent of sales took place outside of US. “

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He then forecast that by the end of this hardware cycle, 60 percent of sales will be outside U.S. for the game category.