Video Game Console Hardware Sales Are Way Down in One Region

European Console Market Slowdown in 2024

The European video game console market experienced a significant 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 console performance reflected this trend. While the PS5 Pro launch provided a slight boost to Sony, sales still decreased by 20%. The Nintendo Switch saw a 15% decline, and the Xbox Series X/S suffered a dramatic 48% drop. This stagnation is likely due to the age of current-generation consoles, with the original PS5 and Xbox Series consoles launching in 2020 and the Nintendo Switch in 2017. The strong performance of the Meta Quest 3S in the US further suggests a broader trend of console market saturation.

Shifting Sales Landscape: Digital Dominance

While console sales faltered, the overall European gaming market showed a modest 1% growth in 2024, reaching 188.1 million units sold (PC and console combined). This minimal growth highlights a significant shift in consumer purchasing habits. Digital game sales surged by 15%, reaching 131.6 million units, while physical game sales declined by 22%, totaling 56.5 million units.

Looking Ahead to 2025

The year 2025 is anticipated to be more robust for the European gaming market, largely driven 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's performance.

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