The worldwide console market has seen a decline this year by a total of 2.5 percent. Across the entirety of 2016, the falling hardware prices and lower amount of consoles being sold lowered the consumer expenditure to $34.7 billion.
The IHS has speculated that 2017 on the other hand will be another year of growth for the industry. The introduction of Nintendo’s newest Switch console—which has seen quite a success at launch—may just be enough the grow the industry even more.
IHS’ research into 2016’s games industry figures has also revealed that Sony’s PS4 dominated the market throughout last year. Using sales figures as a basic, IHS found the PS4 user base peaking at a total of 53 million units compared to an estimated 27.6 million for Xbox One.
The group also let loose their predictions for 2017 where they speculate that Microsoft will contribute to $10 billion in console sales compared to a market value of $20 billion for PS4. Meanwhile, IHS predicts that Nintendo will potentially reach $5 billion at the end of the year.
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