The video game industry is poised for growth, with the release of Grand Theft Auto 6 and the next-generation Nintendo Switch expected to drive console sales until 2027, according to research from Newzoo.
Key Highlights:
- Grand Theft Auto 6 is slated for release in Fall 2025, expected to significantly impact console sales.
- The Nintendo Switch 2 is forecasted to spark a rebound in the market, boosting hardware and software revenue.
- From 2024 to 2027, console software revenue is projected to grow by 7%.
- Despite a sluggish recovery, the video game industry continues to face challenges, including layoffs and studio closures in the wake of the pandemic. Economic factors like inflation have further slowed consumer spending on consoles and games.
The research suggests that the upcoming high-profile releases will be a catalyst for market growth, especially in the console sector, helping to revitalize the industry.
