Video Game Console Sales Plummet in Key Region

Summary

• Major gaming console sales in Europe dropped in 2024 due to market saturation and a lack of new releases.
• The PlayStation 5 Pro was the only new console from major companies, but it couldn't prevent an overall sales decline.
• Overall gaming sales in Europe only saw a 1% increase in 2024, with digital sales rising and physical copies falling.

In 2024, the video game console market in Europe faced significant challenges, with sales of major consoles like the Nintendo Switch, Xbox, and PlayStation experiencing a notable downturn. Despite the introduction of the PlayStation 5 Pro by Sony, the year was marked by a general decline in console sales across the region.

The PlayStation 5 Pro, a revamped version of the existing console, aimed to attract gamers with enhanced power. However, even with this new offering, sales figures couldn't match those of previous years. According to a report by Video Games Chronicle, the overall sales of gaming consoles in Europe fell by 21% compared to 2023. PlayStation saw a 20% drop in sales despite the PS5 Pro's launch, while the Nintendo Switch and Xbox Series X/S experienced declines of 15% and a staggering 48%, respectively. This decline is attributed to market saturation, with the original PS5 and Xbox Series consoles having been released in 2020 and the Nintendo Switch in 2017. Additionally, the Meta Quest 3S outsold all major game consoles on Amazon's US-based site in 2024, further highlighting the stagnation in traditional console sales.

Video Game Sales Shift and Growth Stagnates

The overall gaming market in Europe saw only a marginal increase in 2024, with a total of 188.1 million PC and console games sold, marking a mere 1% rise from the previous year. This modest growth likely fell short of expectations for many game publishers. A significant shift was observed in the mode of game acquisition, with digital sales surging to 131.6 million units, a 15% increase over 2023, while physical game sales plummeted to 56.5 million units, a 22% decrease from the previous year.

Looking ahead, 2025 is anticipated to be a more robust year for the gaming industry in Europe and globally, with the upcoming release of the Nintendo Switch 2 expected to boost sales. However, it's important to note that the 2024 console sales data does not include figures from key markets like the UK, Germany, the Netherlands, and Austria, which might have altered the overall picture for the year.

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