The current generation of consoles, PlayStation 5 and Xbox Series X|S, had a challenging start due to the pandemic and its impacts on supply chains, manufacturing, and distribution. This year, stability has finally been achieved, and both brands are competing in the market. However, the current reality isn't much different from the previous generation, as confirmed by a recent report.
Growth in the Video Game Industry in the USA
The analysis firm Circana, led by Mat Piscatella and formerly known as NPD Group (via Gamesindustry.biz), shared a report on the state of the video game industry in the United States. Overall, there's good news, as a 3% growth is projected in this market—one of the most important globally. This growth is made possible by the commercial performance in console sales. In the last 12 months counted from July 2022, the console sector contributed $7 billion of the $57 billion industry revenue.
PS5 Surpasses PS4 While Xbox Series X|S Lags Behind Xbox One
Regarding each console's reality, there's interesting information. In the case of Xbox, there are mixed results. Sales of Xbox Series X|S are 6% higher than those of Xbox 360 in its first 3 years (the most successful Microsoft console to date), but they are 10% lower than those of Xbox One during the same period in the North American market. This might change in the second half of 2023 with the debut of Starfield.
On the other hand, PlayStation 5 is on the rise. To start, it's confirmed that its sales pace in the USA improved from July 2022, indicating that the scarcity and difficulties period is behind. Considering this and based on Circana's information, PS5's sales are now 5% higher than PS4's aligned sales, a significant goal for Sony to match and now surpass its previous console's trajectory. The expectation is also that PS5 will remain the leader in the North American market until 2025.
Speaking of changing realities, Circana reports that PS5's sales are 87% higher than PS3's in the first 3 years, demonstrating that Sony has learned from its mistakes and aims to avoid a similar situation with its current console or future systems.
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