Depends on the game. Are you referring to downloading it, or installing it? Download speed is dependent on your internet connection and internet service provider. The game may require an update, and depending on its size might take a while to install.
GT5 took around an hour to install from disc, if I remember correctly.
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It is greatly dependent on the game since they can be anywhere from a few MB to many GB. Also, if you are downloading other things while installing, it will take a lot longer. You can pause the downloads to speed up the instal, and then resume them.