The latest Steam Hardware Survey is out and its slightly disappointing news for GPU giant Nvidia. Only a couple of its latest processors appear to be popular among laptop-based gamers. However, it's too soon to write the vendor off just yet. There are several reasons why these chips aren't flying off the shelves yet and the signs are pointing to a better Q4 for the firm.

Extenuating circumstances

On the face of it, the Steam figures don't look great. Despite many of the GPUs in the survey accounting for less than 0.15% of total survey respondents, only the RTX4060 (0.9%) and the RTX4050 (0.2%) made it on the list of "budget friendly" offerings in Nvidia's current range.

Of course, the survey isn't indicative of sales, but it does chime with CONTEXT data throughout the year, indicating that current generation GPUs are not selling brilliantly. They were launched in Q4 2022, with expectations high that sales would surge in the gaming market. However, there are caveats. The high price point of the first products to hit the market, plus market saturation, was always going to make things tricky after soaring sales during the pandemic. Demand remains low as a result.

The more budget friendly products of the current generation GPUs appeared in Q2 2023, with expectations again rising for renewed interest from buyers. However, upgrading GPUs is simply not a priority for the more price sensitive buyer base that would normally opt for these products-thanks to continued cost of living pressures across Europe.

Better times ahead?

However, there are a number of reasons why Nvidia probably isn't worrying too much about these figures just yet. GPU releases operate in a two-year cycle, meaning the industry will soon turn its sights towards the next generation, expected in the second half of 2024.

This, combined with prices for current generation GPUs being lowered by vendors after slumping demand so far this year, points to a much busier Q4 2023.
 

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