Video Game Console Hardware Sales Are Way Down in One Region

2024 European Console Market: A Year of Stagnation

The European video game console market experienced a significant downturn in 2024, marked by declining sales across major platforms. Market saturation and a lack of significant new releases contributed to this slump. While the PlayStation 5 Pro, a refreshed version of the existing PS5, launched during the year, it proved insufficient to offset the overall decline.

Sales figures reveal a concerning trend. According to Video Games Chronicle, overall console sales plummeted by 21% compared to 2023. Even the PlayStation 5, boosted by the Pro's release, saw a 20% sales drop. The Nintendo Switch and Xbox Series X/S fared even worse, experiencing declines of 15% and 48%, respectively. This downturn is largely attributed to the market's maturity; the original PS5 and Xbox Series consoles launched in 2020, and the Nintendo Switch in 2017. The success of the Meta Quest 3S in the US, outselling all major consoles, further suggests a broader trend of console market stagnation.

A Shift in Sales Dynamics:

Despite the console market's struggles, the overall European gaming market showed a modest 1% increase in 2024, reaching 188.1 million PC and console game sales. 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.

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 acknowledge that the reported sales data excludes several major European markets, including the UK, Germany, the Netherlands, and Austria. Including these markets might paint a less pessimistic picture of 2024's performance.

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