PC gaming business is booming, thanks to COVID-19 pandemic

PC gamers across the world might be stuck inside because of the COVID-19 pandemic, but we are doing what we do best: gaming. The entire global PC gaming hardware business has been thriving because of this -- as well as the countless releases of new games, and the upcoming next-gen consoles right around the corner.

Analyst firm JPR has released their Worldwide PC Gaming Hardware Market Report, which if you want to buy it and check it out will cost $27,500. The report is written by Senior Analyst Gaming Industry at JPR, Ted Pollak, who explains: "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".

He added: "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 on systems, audio, and accessories".

Jon Peddie himself, the president of JPR, chimed in adding: "COVID-19 has created a big 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. 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".

If the PC gaming hardware market has gone up in the first 6 months of the year, just wait until AMD unleashes its new RDNA 2-powered next-gen Radeon graphics cards, and NVIDIA with its Ampere-based GeForce RTXD 3000 series graphics cards.