The video game industry faced mixed fortunes in March, with hardware sales for the PlayStation 5, Xbox Series X/S, and Nintendo Switch all declining compared to previous months, according to the latest data from industry tracking firm Circana. While console demand softened, Ubisoft’s Assassin’s Creed Shadows emerged as a bright spot, dominating game revenue charts during the same period.
The dip in hardware sales marks a continued trend for the sector, which has grappled with slower consumer spending amid economic uncertainty and a lack of major first-party releases. Circana’s latest report underscores broader challenges, projecting a 2024 decline for the U.S. video game market before a anticipated rebound in 2025. Analysts point to factors such as market saturation, the aging lifecycle of the Nintendo Switch (now in its eighth year), and rumors of upcoming hardware refreshes as potential reasons for the slowdown.
“March’s console sales reflect a natural plateau after the holiday surge, but the broader reset in spending is undeniable,” said Mat Piscatella, Circana’s executive director, in a social media analysis. “Players are prioritizing content over hardware right now, which explains the success of titles like Assassin’s Creed Shadows.”
The latest installment in Ubisoft’s long-running franchise, Assassin’s Creed Shadows, has captivated audiences with its feudal Japan setting and revamped gameplay, topping Circana’s software revenue charts. Its performance highlights a growing divide: even as hardware sales cool, premium game releases and live-service titles continue to drive engagement.
Looking ahead, Circana forecasts a 2025 recovery for the industry, fueled by potential new hardware announcements, a stronger release calendar, and renewed consumer confidence. For now, however, the focus remains on software—proving that while consoles may be taking a breather, the appetite for immersive gaming experiences is as strong as ever.
Follow Mat Piscatella’s Bluesky profile for ongoing insights into gaming market trends.
