In this article, we will discuss the 15 countries with the most PS5 sales. We will navigate through recent industry trends and discuss notable names in the gaming industry. To skip our detailed analysis, you can go directly to PS5 Sales by Country: Top 5 Countries.
The Global Gaming Market to Hit $666 Billion by 2030
According to a report by Fortune Business Insights, the global gaming market was valued at $249.55 billion in 2022. The global gaming market is expected to grow at a compound annual growth rate (CAGR) of 13.1% and reach a valuation of $665.77 by 2030. The gaming market gained considerable traction after the COVID-19 pandemic limited everyone to their homes. Gaming weighed in as a primary source of entertainment, following the increase in demand for indoor activities.
The Asia Pacific dominated the gaming market and held a share of $114.87 billion in 2022. Significant growth in the young urban population coupled with rising awareness of the gaming industry has fueled the popularity of gaming in this region. Europe is expected to grow substantially during the forecasted period of 2023-2030. The growth of gaming in Europe looks promising as the demand for E-sports in the region experiences an upward trajectory. Additionally, North America also shows favorable signs of growth in gaming, especially among the population over the age of 30.
What is Happening in the Gaming Industry?
The impact of the gaming industry knows no bounds. Football fans invest heavily in the FIFA game to play it on the PS5. The sales of the PS5 console are partially derived from the demand for popular games. Game developers understand this phenomenon and continue developing new and improved games to cater to the audience. Often, these games are inspired by movies, drama series, and live events like FIFA to garner sales.
On March 30, GizChina addressed the growing popularity of games and its contribution to the rising demand for the PS5 and vice versa. Popular new games like “Dead Space,” “Hogwarts Legacy,” and “The Last of Us” have experienced an exponential rise in the number of people playing these games. You can also check out some of the most addictive video games.
As of today, technological growth is an integral component of every industry. While the gaming industry has been keeping up with new and improved technologies, AR/VR opens up endless possibilities for companies. On August 25, Forbes reported that gaming companies are increasingly integrating AR/VR into their products. Two prominent examples of games based on these technologies are “Invaders Reloaded” and “Dogaz.” These two games are based on neural feedback, indicating that these games tend to connect with the human brain. Such creates an immersive experience for the gamer. Check out some of the most popular VR games.
Additionally, gaming companies are also focused on improving the quality of their games and devices. These include improved graphics, spatial audio, and the integration of eye-tracking, motion-tracking, and advanced haptic technologies.
Notable Names in the Gaming Industry
Innovation is a prerequisite for companies willing to prosper. It is important to balance the need for innovation and prioritizing consumer needs. Some of the notable names in the global gaming industry include the Sony Group Corporation (NYSE:SONY), Microsoft Corporation (NASDAQ:MSFT), and Nintendo Co., Ltd. (OTC:NTDOY).
Sony Group Corporation (NYSE:SONY), the owner of PlayStation 5, is known for introducing new and improved products. The gaming industry is currently giving mixed reviews to the new PlayStation Portal introduced by the company. A week ago, the company unveiled the new PlayStation portal worth $199.9. On August 23, the PlayStation.Blog reported how the new PlayStation Portal is a game-changer for the industry. The PlayStation remote player is a DualSense wireless control with adaptive triggers. The display quality is very high, and the controller connects remotely to your PS5 over Wi-Fi.
However, the reviews for the first look of the portal to be released later this year are not straightforward. While some gamers regard the new portal as a more convenient option, others have criticized the new device’s usefulness. On August 24, Forbes reported that the device’s usefulness is limited and should not translate to a price tag of $200. A possible caveat, as reported by Forbes, to the use of the device is that it only connects over Wi-Fi signals that are highly strong, hence limiting the use of the device in outdoor settings.
Nintendo Co., Ltd. (OTC:NTDOY) is a leading Japanese entertainment company specializing in the production and sale of gaming and electronic products. On August 1, Forbes reported that Nintendo Co., Ltd. (OTC:NTDOY) may be in the process of revealing the new and improved next generation console. The new console is expected to launch in the second half of 2024. The report suggests that the portable console would have an LCD screen rather than the standard OLED screen. Gamers are particularly very excited to witness the first look of the console.
Another big name in the gaming industry is the Microsoft Corporation (NASDAQ:MSFT). The company owns the popular Xbox. For large companies like Microsoft Corporation (NASDAQ:MSFT), customer convenience is at the forefront of all product innovations. On July 26, the company reported to include a new and improved version of the “Home” section to all the Xbox series and Xbox consoles. The new “Home” section allows gamers to navigate between games easily, connect with communities, and access primary features on the console or device. The new update also allows people to personalize their experience on the device by changing backgrounds, picking what elements go on the home screen, and much more.
While the PS5 and Xbox Series X are both popular gaming consoles, one of them is more popular among consumers. On August 23, Business Insider reported that the PS5 has outsold the Xbox Series X. According to Sony, the PS5 has sold over 40 million units, as of July 16, since its launch in 2020. With this in mind, let’s take a look at the top 15 countries with the most PS5 sales.
Our Methodology
Acquiring data for PS5 sales in each country was challenging. However, we were able to acquire regional data from VGChartz.com. Using the data, we were first able to rank the regions. We then ranked the data based on the young population statistics acquired from The World Bank. Our hypothesis was based on the assumption that countries with a large percentage of the population between the ages of 15-64 would translate to more PS5 sales. As highlighted by Fortune Business Insights, the demand for gaming has been consistently rising among the older population in the United States. Therefore, it is reasonable to include the percentage of people above 35 in our estimation as well.
As far as the rankings are concerned, as of July 2023, Europe boasted the highest sales of the PS5 of over 500,000 units. Therefore, European countries rank high on the list. Estimated sales of the PS5 in Asia and America are 393,000 and 314,000 units respectively. Oceania ranks the lowest on the list, with estimated sales of only 26,000 in July 2023.
PS5 Sales by Country: Top 15 Countries
15. Australia
Estimated Sales for July 2023 in Oceania: 26,000
Youth Population as a Percentage of Total Population: 64.92%
Australia is ranked among the countries with the highest PS5 sales. The Australian gaming industry is currently evolving. The most popular gaming company in the country is the Mighty Kingdom.
For a complete gaming experience check out some of the new and improved consoles by Sony Group Corporation (NYSE:SONY), Microsoft Corporation (NASDAQ:MSFT), and Nintendo Co., Ltd. (OTC:NTDOY).
14. New Zealand
Estimated Sales for July 2023 in Oceania: 26,000
Youth Population as a Percentage of Total Population: 64.98%
In Oceania, New Zealand stands as the country with a strong gaming market. The country is home to a large number of gamers, and therefore, is very likely to be among the leading countries for the sale of the PS5.
13. Canada
Estimated Sales for July 2023 in America: 314,000
Youth Population as a Percentage of Total Population: 63.39%
Canada is a highly popular destination for its magnificent gaming industry. AppStudio is a leading game development company in Canada, developing 2D and 3D games. The country is a major contributor to estimated sales of the PS5.
12. United States
Estimated Sales for July 2023 in America: 314,000
Youth Population as a Percentage of Total Population: 64.91%
While the United States may be one of the countries with the most PS5 sales, we do not have concrete evidence in the form of official reports to support this. Therefore, in line with our methodology, the country ranks as a major contributor to PS5 sales. The gaming industry in the United States is huge, with massive investments and developments in technology by the likes of Microsoft Corporation (NASDAQ:MSFT).
11. Mexico
Estimated Sales for July 2023 in America: 314,000
Youth Population as a Percentage of Total Population: 67.17%
With a huge young population, the gaming market in Mexico significantly contributes to the sales of PS5. Gamers in Mexico have advanced to make professions out of the industry.
10. Brazil
Estimated Sales for July 2023 in America: 314,000
Youth Population as a Percentage of Total Population: 69.85%
In Latin America, Brazil stands as the country with the strongest gaming market. The country is home to over 88 million gamers, and therefore, is very likely to be among the leading countries for the sale of the PS5.
9. Japan
Estimated Sales for July 2023 in Asia: 393,000
Youth Population as a Percentage of Total Population: 58.45%
The famous Nintendo Co., Ltd. (OTC:NTDOY) is based in Japan. The Japanese market for gamers is very huge. It is no surprise that Nintendo Co., Ltd. (OTC:NTDOY) continues to invest heavily in the development of new and improved gaming accessories.
8. China
Estimated Sales for July 2023 in Asia: 393,000
Youth Population as a Percentage of Total Population: 65.39%
China is among the countries reported to have the highest estimated sales of the PS5. A huge percentage of the population possesses a strong awareness of the gaming industry, and almost half of them are gamers.
7. South Korea
Estimated Sales for July 2023 in Asia: 393,000
Youth Population as a Percentage of Total Population: 70.9%
The largest gaming company in South Korea is Nexon. The company was founded in 1994, and since then has been a major contributor to the growth of the gaming industry. With a massive young population, the country ranks well as one of the countries with the most sales of the PS5.
6. France
Estimated Sales for July 2023 in Europe: 508,000
Youth Population as a Percentage of Total Population: 61.14%
France is a huge part of the global gaming industry, in fact, it is one of the largest markets for gaming in the whole of Europe. The biggest game development company in France is Ubisoft. The company was founded in 1986.
Companies that are dominating the gaming consoles market include Sony Group Corporation (NYSE:SONY), Microsoft Corporation (NASDAQ:MSFT), and Nintendo Co., Ltd. (OTC:NTDOY).
Click to continue reading and see the PS5 Sales by Country: Top 5 Countries.
Suggested articles:
- 25 Most Addictive Video Games in the World
- Top 15 VR Games to Download and Play in 2023
- 10 Most User-friendly Programming Languages for Developing Games
Disclosure: None. PS5 Sales by Country: Top 15 Countries is originally published on Insider Monkey.