Many believe that video games are nothing more than a waste of time or a brooding infestation on a young person’s mind. Many even claim that video games will eventually fade into the distance when the next phase of entertainment to hit, but the recent NPD numbers scream that video games and the entire industry demand respect. The video game industry has grown into a 17.9 billion dollar industry surpassing what anyone thought could be accomplished.

US sales of video game consoles, software and accessories rose “an astounding” 43 percent, with each category reaching a new “personal best,” NPD reported.

A 43% increase is something that is unheard of, that means it almost doubled in the last year. The rate at which the video game industry is growing and the reach and respect, which it is commanding now is impressive. Video games have hit hte mainstream via TV, movies, commercials, etc. Games like Halo 3 are even used to help boost the sales of other products simply by putting a picture of Master Chief on them.

Even if you don’t care that Nintendo is winning the console war, you have to respect that 18 billion dollars were spent in video games, who cares on what system.

Thanks goes to Mia for the tip.

Frazier predicts that the video game industry will continue to flourish in the United States this year, but not at the stellar rate of growth seen in 2007.

“I expect to see 2008 increase over 2007, with more growth, proportionately, coming from software sales,” Frazier said, adding that the competing consoles feature online game services that make money from subscriptions and downloads.

[Via Yahoo]