VG Console Sales Plummet in Key Region

European Console Market Slowdown in 2024: A Detailed Analysis

The European video game console market experienced a significant downturn in 2024, marked by declining sales across major platforms. Market saturation and a shortage of new releases contributed to this slump, despite the launch of the PlayStation 5 Pro, the only new major console release from a leading manufacturer.

While the PS5 Pro, a refreshed version of the existing PS5, generated excitement, it proved insufficient to offset the overall decline. Sales figures reveal a concerning trend: a 21% year-on-year drop in total console sales across Europe, according to a Video Games Chronicle report. This decline impacted all major players: PlayStation sales fell by 20%, Nintendo Switch sales dropped 15%, and Xbox Series X/S sales plummeted by a staggering 48%. This downturn is largely attributed to the maturity of the current console generation, with the original PS5 and Xbox Series consoles launched in 2020 and the Nintendo Switch in 2017. Further highlighting the market 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.

A Shift Towards Digital: Overall Gaming Sales Remain Relatively Flat

Despite the console market's struggles, the overall European gaming market showed a modest 1% increase in 2024, with 188.1 million PC and console games sold. However, this growth masks a significant shift in purchasing habits. Digital game sales surged by 15%, reaching 131.6 million units, while physical game sales plummeted by 22%, down to 56.5 million units. This clearly indicates a growing preference for digital distribution.

Looking Ahead to 2025: Anticipation for New Releases

The outlook for 2025 is more optimistic, with the anticipated launch of the Nintendo Switch 2 expected to revitalize the market. 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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