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 major console releases. 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 manufacturer performance reflected this trend. While Sony's PlayStation 5, bolstered by the PS5 Pro release, fared best with a 20% sales decline, Nintendo Switch sales dropped 15%, and Xbox Series X/S sales suffered a dramatic 48% decrease. This downturn is largely attributed to the aging console market, with the original PS5 and Xbox Series consoles launching in 2020 and the Nintendo Switch in 2017. The market stagnation is further highlighted by the Meta Quest 3S outselling all major consoles in the US market during 2024, suggesting a wider trend of slowing console sales.
Shifting Sales Landscape: Digital Dominates
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). However, this growth was largely driven by a significant shift towards digital distribution. Digital game sales surged by 15% to 131.6 million units, while physical sales declined by 22% to 56.5 million units. This indicates a clear consumer preference for digital downloads over physical copies.
Looking Ahead to 2025
The gaming industry anticipates a more robust 2025, fueled by the upcoming 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. The inclusion of these markets could potentially alter the overall picture for 2024.
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