According to the Strategy Analytics Connected Home Devices service, PlayStation 3 system will beat its rivals Xbox 360 and Nintendo Wii in terms of sales.

The report forecasts that PS3 sales will sooner or later strike 127 million globally, in comparison to approximately 103 million Wii units.

"Nintendo has done a great job with the Wii in bringing console games to new audiences. But its sales are now falling, particularly in mature markets, and its installed base will peak in 2011. Ownership of both the PS3 and the Xbox 360 will hit their highest points between 2012 and 2014”, said SACHD principal analyst and the report's author David Mercer.

Chairman and CEO Kaz Hirai from Sony Computer Entertainment has termed PS3 as a “10 year console”, users will buy and use it for a long period after they change their Xbox 360 and Wii.

Strategy Analytics Connected Home Devices predicts that the global installed base of home consoles is expected to reach over 220 million in 2010.