Video Game Console Hardware Sales Are Way Down in One Region

European Console Market Experiences Sales Dip in 2024

The European video game console market experienced a significant downturn in 2024, primarily attributed to market saturation and a scarcity of new releases from major players. Despite the launch of the PlayStation 5 Pro, a refreshed version of the existing PS5, overall console sales plummeted by 21% compared to 2023.

Individual console performance reflected this trend. While the PlayStation 5, bolstered by the PS5 Pro release, fared relatively better with a 20% sales decrease, the Nintendo Switch saw a 15% decline, and the Xbox Series X/S suffered a dramatic 48% drop. This downturn is largely attributed to the age of current-generation consoles; the original PS5 and Xbox Series consoles launched in 2020, and the Nintendo Switch in 2017, leading to a sense of market stagnation. This stagnation is further evidenced by the Meta Quest 3S outselling all major consoles in the US market during 2024, suggesting a broader trend of slowing console sales.

Digital Sales Surge Amidst Physical Decline

While console sales faltered, the overall European gaming market showed a modest 1% increase in 2024, reaching 188.1 million units sold (PC and console combined). This growth, however, was largely driven by a significant shift towards digital distribution. Digital game sales soared by 15%, reaching 131.6 million units, while physical sales slumped by 22%, totaling 56.5 million units. This highlights a clear consumer preference for digital downloads over physical copies.

Anticipation for a Stronger 2025

The outlook for 2025 is more optimistic, with the anticipated launch of the Nintendo Switch 2 expected to revitalize the market. However, it's crucial to note that the reported sales figures exclude several major European markets, including the UK, Germany, the Netherlands, and Austria. Inclusion of these markets could potentially alter the overall picture for 2024.

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