The report highlighted the growth in consumer spending on gaming hardware and accessories, which ballooned to more than $5.74 billion in 2021. The considerable 25 percent revenue increase comes on the heels of 2022 massive 62 percent, $4.5 billion increase over 2019's figures.
The report breaks down the growth across several product categories, which were led by overall increased demand for desktop computers, laptops, and microphones. PC microphones and monitors once again topped the charts in volume growth, mirroring patterns from 2020 reported increases.
The rise in hardware revenues continues to be driven by ongoing Covid-19 restrictions, regulations, and precautions forcing users to look for new ways to work, socialize, and entertain from the comfort and safety of their own home. NPD reported a five percent increase in digital content consumption over the last year, bringing the 2021 total to $7.9 billion.
NPD's 2022 forecast predicts a decline in the gaming and hardware trend line. This decline can be attributed to the extremely high volumes moved across the 2020 and 2021 reporting periods. Based on current market saturation and Covid-based restrictions (hopefully) being lifted, it is reasonable to expect a drop in the overall demand for PC hardware and accessories as users return to life outdoors.
IDC projects that gaming PC shipments will increase from 41.3 million in 2020 to 52.3 million in 2025. “Similarly, the gaming monitor market is expected to jump from 14.2 million units shipped to 26.4 million during the same time frame,” the research firm says. The one exception was the PC gaming market, where demand has been consistently strong, especially for gaming laptops and monitors.
“The gaming market was on fire for years leading into the start of the pandemic in 2020 and things only accelerated as most people were spending more time at home and in front of screens,” Reith adds or some bad news, IDC expects the average selling price for gaming PCs to increase from $925 to $1,007 by 2025. Meanwhile, the average selling price for monitors is projected to slightly dip, from $339 to $309.
IDC didn’t explain why PC gaming prices might go up. But currently, the electronics industry is facing a historically bad chip shortage that may last until 2023. As a result, PC vendors are favoring producing high-end systems over lower-end units labor shortage and rising shipping costs also threaten to impose more costs on PC makers, which may lead to price increases. Consumers are already seeing this with some PC graphics cards, which began increasing in price earlier this year. Gaming services are focused on leveraging hyper-scale cloud capabilities, global content delivery networks, and streaming media services to build the next generation of social entertainment platforms. Such factors have an anticipated positive impact on market growth. A PC's configuration to support cloud gaming must include high-end performance components for users to enjoy a frictionless and seamless gaming experience. Only video signals and user input are shared between the client device and remote PC. According to a report published by Datareportal, 4.88 billion people across the world used the internet in October 2021, which was almost 62% of the world's total population. The report also suggested that more than 222 million new users came online over the past 12 months. Game streaming and multiple open-source capturing and broadcasting tools. The number of hours spent watching game video content has also exploded. These games often facilitate creative content and competition, generating unique gameplay moments that are actively shared and viewed by millions. The advanced network connectivity and 5G evolution, cloud gaming is the emerging technology in the gaming industry that allows users to stream high-end games across hand-held devices, such as laptops, tablets, and mobiles, with fast network connectivity, eliminating the need for a dedicated gaming console/PC.
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