European Console Market Experiences Significant Dip in 2024
The European video game console market experienced a substantial 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 – the only new console from a major manufacturer – overall console sales plummeted by 21% compared to 2023.
Individual console performance reflected this trend. While the PlayStation 5, bolstered by the PS5 Pro's release, fared relatively better with a 20% sales decrease, the Nintendo Switch and Xbox Series X/S suffered more significant declines, dropping 15% and 48% respectively. 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 debuted in 2017. The market appears to be reaching a plateau, as evidenced by the Meta Quest 3S outselling all major consoles in the US market during 2024, suggesting a broader trend of console sales stagnation.
Shifting Landscape: Digital Dominates, Physical Sales Decline
While overall console sales suffered, the European gaming market as a whole saw a modest 1% increase in total game sales, reaching 188.1 million units (PC and console combined). However, this growth is skewed by a significant shift in purchasing habits. Digital game sales surged by 15%, reaching 131.6 million units, while physical sales plummeted by 22%, down to 56.5 million units. This clearly demonstrates a growing preference for digital distribution.
Outlook for 2025: Anticipation for New Releases
The year 2025 is anticipated to revitalize 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 sales figures exclude several major European markets, including the UK, Germany, the Netherlands, and Austria. The inclusion of these markets could potentially alter the overall picture for 2024.
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