The PC Gaming Hardware market is said to gross rapidly this year according to Jon Peddie Research report. Thanks to the ongoing pandemic.
The lockdown measures have made gamers to keep ordering accessories/upgrading their gaming rigs with new parts. Interestingly the report highlights the arrival of ‘millions’ of brand new gamers during the pandemic which surged two of the biggest industry Activision and Electronic Arts (EA).
The PC Gaming Hardware market is estimated to grow by approximately $3.6 billion (roughly £2.9B) this year, with a 10.3% sequential growth of sales year-over-year.
Ted Pollak, Senior Analyst Gaming Industry, stated:
The PC Gaming Hardware market is in a rare scenario where every segment is going up. We see a lot of people buying and upgrading personal and company subsidized computers with better parts, with the intention of playing video games. In the Entry-Level, much of this revenue comes from new gamers.
The 2020 Entry-Level category is forecast to grow 21.7% which is unprecedented and totally unexpected. The Mid-Range has bounced back from a slide; now in positive territory. At the High-End, 1440p+ display sales (spurred by more affordable offerings) created a chain reaction of upgrades as gamers configure rigs for 60+ frames per second.
Due to TV broadcasting of sim racing events, we are observing an uptick in racing simulation builds.
These include a high-performance computer often with premium audio, racing wheel/shifter/pedals, sometimes a racing seat, and other elements. Many of the sim racers are new to the market but have money and spend $2,000 – $5,000 (roughly £1,600 – £4000) on systems, audio, and accessories.
Jon Peddie, President of JPR, added:
The on going pandemic has created a big spike in sales for PC gaming products in the near term. The total market is approaching $40 billion (roughly £32B) in 2020. However, we temper our forecasts for possible economic issues in 2021 and beyond. Forecasts are heavily dependent on consumer confidence.
Nevertheless, we still predict growth over five years even in the face of a console cycle. We have improved our accessory analysis this year and added a new category for game recording and streaming products. Studio quality cameras and microphones, capture cards, and personal lighting have become common items for high-end gamers and are making their way down into the mass market.