European Console Market Suffers in 2024
The European video game console market experienced a significant downturn in 2024, primarily attributed to market saturation and a dearth 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 decline. While the PS5 Pro's release gave Sony a slight advantage, even its sales dipped by 20%. The Nintendo Switch saw a 15% decrease, while Xbox Series X/S sales took a dramatic 48% hit. This slump is largely attributed to the age of current-generation consoles – the PS5 and Xbox Series X/S launched in 2020, and the Nintendo Switch in 2017. The market appears to have reached a plateau, further evidenced by the Meta Quest 3S outselling all major consoles in the US market during 2024.
A Shift in Gaming Consumption
While console sales faltered, the overall European gaming market showed a modest 1% growth in 2024, reaching 188.1 million units sold (PC and console). This slight increase, however, masks a significant shift in consumer behavior. Digital game sales surged by 15%, reaching 131.6 million units, while physical sales plummeted by 22%, down to 56.5 million units.
Looking Ahead to 2025
The gaming industry anticipates a rebound in 2025, largely fueled by the anticipated release of the Nintendo Switch 2. 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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