- The PC and console gaming markets grew by 2.6% in 2023.
- PC gaming saw twice as much growth as console gaming overall.
- The overall revenue generated was $93.5 billion, where console games took the lead.
PCs and consoles both have a massive and dedicated fandom. However, it is no surprise that the PC industry is on track to grow bigger than traditional console ecosystems. Together, these two are among the primary platforms of choice for millions.
While the console market has always been massive, PC gaming is growing steadily. A new report reveals that the gaming industry grew by 2.6% in 2023, and PC gaming was the biggest contributor to this growth.
Why it matters: PC gaming is typically more expensive for most people. However, with console exclusivity no longer as important as it used to be, many are beginning to forego consoles in favor of this platform as it offers various other benefits.
The report has revealed that in 2023, there was a $93.5 billion increase in growth on a year-on-year basis.
Among this overall sum, PC gaming alone has grown by 3.9% year-on-year. Meanwhile, console games have grown by 1.7% over the last year, which is less than 50% of the former’s growth.
The report confirms that console games generated more revenue overall, but it seems PC games are catching up. A major advantage for the former still lies in exclusivity, but this practice is not as prevalent as it once was.
Of the $93.5 billion sum, console games have made $53.1 billion. This is 57% of the total share, with PC games making $40.4 billion at 43% of the overall share.
2023 was one of the best years for gaming, as there were many great releases like Baldur’s Gate 3, Alan Wake 2, and Spider-Man 2.
The Game Awards were also quite intense, with Baldur’s Gate 3 bagging the GOTY award. So, given how great the year was, the industry was able to offset its stagnant growth and record a small increase in revenue.
Perhaps the most interesting point about PC gaming’s current growth is the turmoil in the graphics card industry. Nvidia is the current market leader, yet its latest graphics cards can only be described as major disappointments.
We hope to see much better hardware coming out in 2024. The gaming industry is in a rough spot in many ways, so any bit of positive news is great to see.
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