Press Reports: The PC Gaming Market Is Set To Grow By $3.5 Billion In 2020 Courtesy Of The COVID-19 Pandemic

Press Reports: The PC Gaming Market Is Set To Grow By $3.5 Billion In 2020 Courtesy Of The COVID-19 Pandemic

Recently, the exclusive research reporter, Jon Peddie, revealed that the PC Gaming Hardware market is continually embraced by due to multiple factors including the COVID-19 pandemic.

On top of that, the lockdown measures enforced by nations encouraged gamers to order accessories and upgrades for their PC gaming hardware.

To cap it all, the report also highlights the emergence of ‘millions’ of brand new gamers during the pandemic, which is already apparent and publicized by some of the biggest names in the gaming industry—Electronic Arts and Activision—a few months ago.

So… with that being said, the PC Gaming Hardware market is positioned to grow sequentially to $3.6billion this year, with a 10.3% chain growth of sales year-after-year.

Ted Pollax, a Senior Analyst in the Gaming scene, had this to say:

The market is booming globally due to shelter in place orders as gamers upgrade and buy new PCs and accessories. Perhaps more importantly, the current situation has actually created millions of new PC gamers looking for immersive, exciting, and economically efficient forms of home entertainment.

He continued:

The PC Gaming Hardware market is in a rare scenario where every segment is going up. We see many people buying and upgrading personal and company subsidized computers with better parts, intending to play 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 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.

We observe an uptick in racing simulation builds due to the TV broadcasting of sim racing events. 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 on systems, audio, and accessories.

Also, Jon Peddie, President of JPR, contributed:

COVID-19 has created a significant spike in sales for PC gaming products in the near term. The total market is approaching $40 billion in 2020. However, we temper our forecasts for possible economic issues in 2021 and beyond. Estimates 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, microphones, capture cards, and personal lighting have become everyday items for high-end gamers and make their way down into the mass market.