Video Game Console Hardware Sales Are Way Down in One Region

Summary

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

2024 proved a challenging year for video game console sales across major European markets, impacting leading brands like Switch, Xbox, and PlayStation. The region experienced a significant downturn in new console sales, although the broader gaming industry wasn't entirely without positive news.

The only new console released in 2024 by a major manufacturer was the PlayStation 5 Pro, an enhanced version of the existing PS5. Despite generating considerable pre-release excitement, this launch proved insufficient to prevent a year-on-year sales decline in the European market.

A Video Games Chronicle report revealed a stark 21% drop in overall European console sales compared to 2023, affecting PS5, Xbox Series X/S, and Nintendo Switch. PlayStation, despite the PS5 Pro launch, still saw a 20% sales decrease. Nintendo Switch sales fell by 15%, while Xbox Series X/S sales plummeted by a dramatic 48%. This downturn is attributed to market stagnation, with the original PS5 and Xbox Series consoles launched in 2020 and the Nintendo Switch in 2017. Further highlighting market trends, Amazon US data showed the Meta Quest 3S outselling all major gaming consoles in 2024, suggesting broader stagnation in several territories.

Video Game Sales: A Shift in the Landscape

Overall European gaming sales in 2024 reached 188.1 million units (PC and console), representing a meager 1% increase compared to 2023. While positive, this growth likely fell short of industry expectations. The data also reveals a significant shift in consumer purchasing habits: digital game sales surged by 15% to 131.6 million units, while physical sales plummeted by 22%, reaching only 56.5 million units.

While 2025 is anticipated to be a more robust year for the European gaming market, 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 countries, including the UK, Germany, the Netherlands, and Austria. Inclusion of these markets might alter the overall 2024 performance picture.

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