The Nintendo Switch landed last year to critical and commercial acclaim, and that praise is finally paying off in a truly big way. Nintendo earned a 13 percent increase in its share of the console market last year, a new report from CNBC reveals.
CNBC details a particularly successful year for the gaming industry, with shoppers spending $41 billion on hardware and “games content and services” for consoles, leading to an 18 percent year-over-year increase for the market. Hardware sales reportedly increased by 33, which CNBC credits to the PlayStation 4 Pro, Nintendo Switch, and Xbox One X (the latter two launched last year).
Above all, Nintendo’s increased hold on the industry means the company now has a 22 percent share in the console market. In comparison, Microsoft dropped from a 31 percent share in 2016 to 25 percent in 2017. IHS Markit, who provided data for the CNBC story, suggests Nintendo’s hold on the gaming industry will increase over Microsoft’s this year, meaning Microsoft may find itself competing closely against Nintendo throughout 2018.
“The hybrid nature of Nintendo’s Switch has allowed it to flex to the buying needs of consumers in different regions, thus making it a globally attractive and relevant product,” IHS games research head Piers Harding-Rolls explained to CNBC. “Nintendo’s content release slate was also exceptional in 2017, acting as the catalyst for rapid adoption of the console.
Meanwhile, Sony continues to lead the console market, and IHS predicts that the Japanese company will continue to do so even as the PlayStation 4 reaches the end of its life cycle. Time will tell if Microsoft continues to struggle against an unrelenting Nintendo and Sony too.
H/T My Nintendo News