Why it matters: After a decade of robust growth from 2011 to 2021, the gaming industry has hit a plateau, creating a climate of caution and reduced investment. However, amidst this stagnation, PC gaming has emerged as a bright spot, continuing its upward trajectory and now representing the majority of non-mobile content revenue. Both PC and console gaming sectors have expanded substantially since the early 2010s, with consumer spending on these platforms increasing by nearly $50 billion in 2024 compared to 2011 levels, according to a presentation by Epyllion CEO Matthew Ball ("The State of Video Gaming in 2025").Yet, a divergence in growth patterns has become apparent since 2021. The console gaming market has experienced a noticeable slowdown, particularly reflected in sales figures for the Xbox Series and PlayStation 5. After 49 months on the market, Microsoft and Sony's current generation of consoles has sold almost 7 million fewer units than their predecessors.In contrast, PC gaming has sustained its upward momentum. While console gaming has plateaued since 2021, PC gaming revenue has surged by 20 percent. Ball attributes this growth to several factors, including a more extensive and backward-compatible game library, instant access to web browsers, social platforms, and livestreaming software, as well as superior high-end performance capabilities.Ball's analysis suggests that PC gaming's momentum is likely to continue, driven by trends such as the cross-release of console exclusives, advancements in portable PC gaming devices like SteamOS, and the influence of platforms like Roblox. The latter, in particular, may dissuade younger gamers from investing in expensive consoles, as hundreds of millions of children growing up on Roblox are unlikely to request a $500 console to play AAA games.Other analyses of market share distribution between consoles and PCs, however, have arrived at different conclusions. For example, Newzoo reported in August 2023 that console games generated $56.1 billion in consumer spending, compared to approximately $40 billion for PC games.When PC Gamer inquired about this discrepancy, Ball explained that he primarily relied on IDG data, which is widely regarded as the industry standard for sales tracking. He also noted that other sources, such as Pelham Smithers, estimate PC gaming to be 50 percent larger than console gaming.Ball theorizes that variations in market research data may stem from differences in tracking game sales in China, where PC gaming dominates the AA/AAA market. For his analysis, Ball consulted publishers and cross-referenced multiple sources, including IDC and Bloomberg.The same five franchises on PC (which are 6 22 years old) have averaged 30% of playtime for 4 years straightDespite discrepancies in market share estimates, Ball remains confident in PC gaming's growth potential. He emphasized the potential for Steam to expand into the living room and handheld markets, which could further solidify PC gaming's dominance.