According to research from Newzoo, video game consoles are expected to be the driving force behind significant market growth until 2027. The firm highlighted the anticipated strong sales of two major upcoming releases: Grand Theft Auto 6 from Take-Two Interactive and the next-generation Nintendo Switch. These products are expected to revitalize the gaming industry, providing a much-needed boost to console sales and the broader gaming ecosystem. This growth is seen as essential for the industry’s recovery, which has been sluggish in the aftermath of the pandemic.
The video game industry has faced challenges over the past few years, with consumer spending on consoles and games impacted by economic uncertainties and high inflation. This downturn led to significant consequences within the industry, including widespread layoffs, studio closures, and the cancellation of several major projects throughout 2024. However, analysts are optimistic that the releases of GTA 6 and the new Switch console, set to launch in the summer and fall of this year respectively, will help trigger a rebound in the gaming market. These high-profile titles are expected to draw in both new and returning players, reigniting demand for gaming consoles.
Grand Theft Auto V, the predecessor to GTA 6, has already proven to be one of the most profitable video games in history, selling over 210 million copies as of December 2024. Its immense success has set high expectations for the upcoming release, with fans eagerly awaiting the next installment. On the other hand, Nintendo is also preparing for a major shift, having recently lowered its full-year sales forecast for the current Switch model ahead of the anticipated launch of its successor.
Emmanuel Rosier, director of market analysis at Newzoo, pointed out that major console releases like Sony’s Spider-Man and God of War have already been driving players to spend more time on their consoles, further underscoring the growing influence of big-name games in the market. As both GTA 6 and the next-gen Switch are expected to generate massive sales, these launches will likely play a pivotal role in shaping the trajectory of the gaming industry in the coming years, with console gaming poised for a strong resurgence.
