The home gaming console market is experiencing an unusual phase currently, as the latest sales data reveals a noticeable decline in the performance of PS5 and Xbox Series X|S, raising numerous questions about the future of the current generation of gaming consoles, especially amid the ongoing price increases and changing consumer behaviors worldwide. This decline comes at a time when the industry is preparing to welcome one of the most anticipated games in history, GTA 6, scheduled for release next November, which many see as potentially pivotal in determining the sales trajectory of consoles in the coming years.
According to the latest US video game sales data for May 2026, issued by well-known analyst Matt Piscatella, the Nintendo Switch 2 continues to dominate the American market, having become the best-selling console in terms of units sold and revenue during May, as well as for the year 2026 so far.
In contrast, the PlayStation 5 came in second place, while the Xbox Series X|S ranked last, but it is noteworthy that the results of both platforms were not just an ordinary sales decline, but recorded historically negative figures that reflect the magnitude of the pressures currently facing the home console market.
According to Piscatella, Xbox consoles recorded their worst performance ever in May since tracking video game sales in the US began in 1995, a figure that clearly reflects the difficulties Microsoft is currently facing regarding console sales.
As for Sony, despite retaining second place in the market, it is not far from this decline, as the data showed that PlayStation recorded its worst May ever in terms of console sales since 2000, indicating a 43% decrease in spending on PS5 consoles during May 2026, alongside a unit sales decline of up to 58% compared to the same period, significant figures for a platform still in the middle of its life cycle.
Experts believe that the main reason behind this decline lies in the recent price hikes imposed by both Sony and Microsoft. Over the past few years, the gaming industry has typically seen gradual price decreases for consoles over time to attract a larger share of consumers, but the current generation is moving in the completely opposite direction.
Sony has raised prices for most PS5 models in several markets, including the disc drive version, the digital version, and the PS5 Pro. Meanwhile, Microsoft recently announced a new price increase for Xbox consoles effective August 1, with prices for all models increasing by at least $100.
These increases, according to the companies, are due to rising manufacturing costs, increased prices for storage and memory components, alongside ongoing global economic fluctuations. Industry reports indicate that prices for storage and memory units used in consoles could double by Fall 2027, meaning that price pressures may persist in the coming years, possibly leading to further price increases.
These developments raise genuine concerns about the ability of both platforms to maintain sales momentum, especially since the current generation has already surpassed four and a half years since its launch. Under normal circumstances, consoles would be expected to see price reductions and noticeable improvements in adoption rates, but the current reality seems completely different.
The challenges are not limited to console prices alone, as prices for games themselves have also risen lately, with many companies pricing their new releases at $80 or more, raising the overall cost of entering this generation for consumers.
Amid these circumstances, eyes are turning to GTA 6 as a potentially game-changing asset for both Sony and Microsoft, as historically, the Grand Theft Auto series has been one of the strongest factors capable of boosting console sales, with the launch of GTA 5 in 2013 significantly enhancing PS3 and Xbox 360 sales.