The overall gaming hardware market reached $67bn in 2014, according to new data presented by analyst Jon Peddie Research.
Games Industry reports on JPR's presentation, which claimed PC accounted for 33 per cent of the market, smartphones came in at 23 per cent, consoles and handhelds brought in 16 per cent, and tablets made up 11 per cent.
JPR pointed out that global gaming software was worth $26bn in 2014, according to recent data provided by the Open Gaming Alliance.
The two reports combine to indicate a total gaming market of around $93bn – with JPR expecting "robust growth" throughout in the coming years.
The research firm also stated that it does not expect smartphones to somehow catch or pass consoles in regards to raw processing power and graphics – adding that the thought that phones offer console quality” graphics tends to reference older console generations.
"There is no such thing as catching up. Moore's law serves all platforms.”
Android is starting to make significant inroads in the hardware market as well. JPR states the Android console sector represents a "paradigm shift" for the market – as more than 1bn Android users can be leveraged. The firm also projects a rise in dedicated Android portable gaming devices over the next few years.