Sony dominates the console market with PlayStation 5

The global game console market has seen a significant surge in the third quarter of 2023, marking its strongest performance for this period since 2017. A report from TechInsights highlights an impressive 11% year-on-year increase in total shipments, reaching 9.1 million units. This upturn follows a strong first half of the year, with sales growing by 32% and 19% in the first and second quarters, respectively.

Sony has emerged as the frontrunner in the game console market with its PlayStation 5. Achieving a substantial 42% growth year-on-year, Sony now dominates with a 54% market share. This period represents Sony’s highest Q3 shipment volume ever, and the second-best quarter for the PlayStation 5 since its launch in 2020. On the heels of this success, Sony is poised to meet its target of 25 million total shipments for the fiscal year and is planning to release a higher-capacity PS5 Slim in the final quarter of 2023.

Sony dominates the console market with PlayStation 5

Nintendo, despite experiencing a 15% drop in year-on-year shipments, still holds a significant 27% share of the market. This is largely due to the enduring popularity of its flagship games and the “Super Mario Bros. Big Movie”. However, the lack of a major new release in Q3 resulted in Nintendo slipping to second place. The company is planning to launch an upgraded version of the Switch in early 2024, aiming for 15 million unit shipments for the fiscal year.

Microsoft’s Xbox Series X/S has also faced challenges, with a 6% decline in shipments, totaling around 1.8 million units. Despite this setback, the Xbox Series X continues to be popular, accounting for 72% of the Xbox lineup's product share. A 1TB version of the Xbox Series S was also introduced to bolster its lineup.

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