The current console generation has been incredibly good for Sony and the PlayStation 4 with its rapidly increasing install base and the success of its PlayStation VR hardware. And a new report from IHS Markit has revealed that while the overall world console market shrunk by 2.5 percent in 2016, Sony not only saw growth but was leading the charge with a 57% share of the console market across all of its hardware, games content, and services.
According to the report, the console market amounted to about $35 billion in 2016 with the PS4 taking up $17.8 billion of that value or 51% of the total console market. That’s almost double the performance of its closest competition, the Xbox One, which held a market value of $9.1 billion or a market share of 26%.
By the end of 2016, the install base of the PS4 was at 53 million and IHS Markit estimates that Sony is set to continue its momentum in 2017 with the rapid growth of its digital games content business, which is now worth $4.4 billion. That doesn’t include PS Plus and other platform subscriptions, another area that is seeing continuous growth as the console install base grows.