Video Game Console Hardware Sales Are Way Down in One Region

Summary

• Major gaming console sales in Europe declined significantly in 2024 due to market saturation and a lack of major new console releases.
• The PlayStation 5 Pro, the only new console from a major manufacturer, failed to reverse the overall sales downturn.
• While overall European gaming sales saw a modest 1% increase in 2024, this growth was driven by a surge in digital sales, offsetting a sharp decline in physical game sales.

2024 proved a challenging year for video game console sales in many parts of Europe. Major players like the Nintendo Switch, PlayStation, and Xbox all experienced declines. While the gaming industry wasn't entirely stagnant, the overall trend for new console sales in the region was undeniably downward.

The only new console released by a major manufacturer in 2024 was the PlayStation 5 Pro, an upgraded version of the existing PS5. Despite anticipation surrounding this more powerful console, it was insufficient to prevent a significant drop in overall console sales across Europe.

A report from Video Games Chronicle revealed a stark 21% decrease in total console sales across Europe compared to 2023. Although PlayStation, potentially boosted by the PS5 Pro launch, performed best among the major players, its sales still fell by 20%. The Nintendo Switch experienced a 15% decline, while Xbox Series X/S sales plummeted by a staggering 48%. This downturn is largely attributed to market saturation; the original PS5 and Xbox Series consoles launched in 2020, and the Nintendo Switch in 2017, leading to a less vibrant market for new hardware. Further highlighting this stagnation, the Meta Quest 3S outsold all major gaming consoles on Amazon's US site in 2024, suggesting a broader trend of slowing console sales in various territories.

Video Game Sales: A Shift in the Landscape

Despite the console slump, the overall European gaming market saw a modest 1% increase in 2024, with 188.1 million PC and console games sold. While positive, this growth is likely below industry expectations. A significant shift is evident in how games are acquired: digital sales soared by 15% to 131.6 million units, while physical game sales plummeted by 22%, reaching only 56.5 million units.

While 2024 presented challenges, 2025 is anticipated to be a more robust year for the European gaming market. The upcoming release of the Nintendo Switch 2 is expected to significantly boost sales. It's important to note that the reported console sales figures exclude several major European markets, including the UK, Germany, the Netherlands, and Austria. Inclusion of these markets might paint a less pessimistic picture of 2024's performance.

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