Video Game Console Hardware Sales Are Way Down in One Region

Summary

• Major European gaming console sales slumped in 2024, attributed to market saturation and a dearth of new releases.
• The PlayStation 5 Pro, the only major new console launch, failed to stem the overall sales decline.
• While overall European gaming sales saw a modest 1% increase in 2024, this was driven by a surge in digital sales, offsetting a significant drop in physical game sales.

2024 proved a challenging year for video game console sales across major European markets, impacting established players like Nintendo, Sony, and Microsoft. While the overall gaming market didn't entirely stagnate, the console sector experienced a significant downturn.

The only new console release from a major manufacturer in 2024 was the PlayStation 5 Pro, an iterative upgrade to the existing PS5. Despite generating some excitement, this wasn't enough to counteract the prevailing negative trend in European console sales.

According to a Video Games Chronicle report, sales of the PS5, Xbox Series X/S, and Nintendo Switch all declined substantially in Europe. Overall console sales plummeted by 21% compared to 2023. PlayStation, despite launching the PS5 Pro, still saw a 20% sales drop. The Nintendo Switch experienced a 15% decrease, while Xbox Series X/S sales took a dramatic 48% hit. This downturn is largely attributed to market saturation, with the original PS5 and Xbox Series consoles launching in 2020 and the Nintendo Switch in 2017. Further highlighting this stagnation, the Meta Quest 3S outsold all major gaming consoles on Amazon US in 2024, suggesting a broader trend of console market slowdown.

Video Game Sales: A Shifting Landscape

Despite the console slump, the overall European gaming market showed a modest 1% growth in 2024, reaching 188.1 million PC and console game sales. This minimal increase, however, masks a significant shift in consumer purchasing habits. Digital game sales soared by 15%, reaching 131.6 million units, while physical game sales plummeted by 22%, falling to 56.5 million units.

While 2025 is anticipated to be a more robust year for the gaming industry in Europe, with the launch of the Nintendo Switch 2 expected to boost sales significantly, 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 could potentially alter the overall picture for 2024.

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