Highlights of the U.S. Video Game Market and Speculation on Upcoming Hardware Releases

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Highlights of the U.S. Video Game Market and Speculation on Upcoming Hardware Releases

The U.S. video game market has recently witnessed a notable downturn in hardware spending, with a substantial 40% decrease in comparison to the previous year, according to Circana’s May 2024 report. This shift in trend has impacted all the major console manufacturers in the industry, including Microsoft Corp., Nintendo ADR, and Sony Group Corp. Among these, the Nintendo Switch has specifically faced a significant decline in its sales figures.

Modern Warfare 3 (2023).

In light of the ongoing hardware decline, there is growing speculation surrounding potential upcoming releases from the major console makers. While Microsoft has already announced updated versions for the Xbox Series X and S, Sony is rumored to be working on a Pro variant for the PS5 set to debut later in the year. Moreover, there are expectations for Nintendo to unveil a next-generation successor to the Switch in 2025. These forthcoming releases are believed to be a factor in consumers delaying their purchases of current models. Additionally, there has been talk about possible new hardware on the horizon from the big three console companies, further fueling anticipation in the gaming community.