"Region Sees Sharp Decline in Video Game Console Sales"

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 couldn't prevent the overall sales decline.
• Overall gaming sales in Europe only saw a 1% increase in 2024, with digital sales rising and physical copies falling.

2024 was a challenging year for video game consoles in several European regions, impacting all major platforms including the Nintendo Switch, Xbox, and PlayStation. Despite the introduction of new hardware, the market experienced a significant decline in console sales throughout the year.

The only new console release from the big three gaming companies in 2024 was the PlayStation 5 Pro, a more powerful version of the existing PS5. Although this release generated excitement among fans eager for enhanced performance, it wasn't sufficient to reverse the overall downward trend in console sales in Europe compared to previous years.

According to a report by Video Games Chronicle, sales data reveals that the PS5, Xbox Series X/S, and Nintendo Switch all struggled in Europe. Overall, console sales dropped by 21% compared to the previous year. PlayStation, buoyed somewhat by the PS5 Pro, fared the best with a 20% decrease in sales. The Nintendo Switch saw a 15% decline, while the Xbox Series X/S experienced a dramatic 48% drop. This downturn is attributed to market saturation, as the original PS5 and Xbox Series consoles launched in 2020, and the Nintendo Switch debuted in 2017. Notably, on Amazon's US-based site, the Meta Quest 3S outsold all major game consoles in 2024, suggesting a broader trend of stagnation in traditional console sales.

Video Game Sales Shift and Growth Stagnates

Overall, the gaming industry in Europe saw only a marginal increase in sales in 2024, with 188.1 million PC and console games sold, marking a mere 1% rise over the previous year. This modest growth is likely below the expectations of many game publishers. The data also highlights a significant shift in consumer behavior, with digital game sales soaring to 131.6 million units, a 15% increase from 2023. In contrast, sales of physical game copies plummeted to 56.5 million, a 22% decrease from the year before.

Looking ahead, 2025 is anticipated to be a more robust year for gaming in Europe and globally, with the upcoming release of the Nintendo Switch 2 expected to boost sales significantly. However, it's important to note that the 2024 console sales figures exclude key markets like the UK, Germany, the Netherlands, and Austria, which could alter the perceived performance of the year if included.