Console market now makes 29% of the global market revenue, which is almost a third of the total market share, this is not a tiny fraction. PC games generate a 20% instead (1% of it being casual games), which is a smaller market share.
And yes, the % of the total revenue is the market share. Doesn't only applies to companies, it's also used with any market segments whose revenue you want to compare. In this case, splitting gaming market into platform types.
In addition to this, during the last 5 years console market had a bigger YoY growth than PC, meaning that it's growing faster than PC on a steady way so very likely will continue growing more so will continue being bigger than PC in at least the next few years.