Recent industry analyses project that video game consoles will be the primary drivers of market growth through 2027, largely due to the anticipated releases of “Grand Theft Auto VI” (GTA VI) by Take-Two Interactive and a new generation of Nintendo’s Switch console. After a sluggish post-pandemic recovery and economic concerns, these major launches are expected to rejuvenate the gaming industry.
According to a report by Newzoo, console software revenue is forecasted to grow by 7% from 2024 to 2027, outpacing the 2.6% increase projected for PC software. By 2027, console revenues are expected to account for over 56% of the combined PC and console software market, estimated at $92.7 billion.
Take-Two CEO Strauss Zelnick has expressed confidence that the release of GTA VI will boost console sales, stating that major titles historically drive hardware purchases. He anticipates a significant uptick in console sales in 2025, not only due to Take-Two’s releases but also other upcoming titles.
Similarly, Nintendo’s upcoming Switch successor is expected to stimulate hardware sales. The new console is anticipated to launch in the summer of 2025, aiming to build upon the success of the original Switch, which emphasized innovative gameplay over raw power.
Overall, the combined impact of these high-profile releases is expected to drive substantial growth in the video game market, with consoles playing a pivotal role in this expansion.
