No chance. Games will only grow. With so many good free engines, I cannot see people stopping making games.

I think with hardware, people bought PCs during the pandemic, and after (when GPU's became available), and after that, they had done their hardware refresh. Some of the bump from the year 2022 was likely because of people finally being able to get hold of their hardware. Because of the backlog catch up, 2023 would inevitably be a drop. Now they have a PC, the only question is whether you need a better monitor to support the hardware, and that would explain the growth of it now.

The only thing happening in the games industry is layoffs due to high interest rates. If interest rates are 2% and you make a 5% ROI, you make a profit. If interest rates are 8%, you're making a loss, so investment in games or any software ain't great at times of high interest. It'll likely bounce back as interest rates drop. I just hope more jobs are built within the indie sector rather than AAA.