Sony‘s latest video game console, the PlayStation 5, reached another massive milestone just over two years after launching. Sony announced this week that PS5 sales have officially surpassed 50 million units globally since hitting the market in late 2020.

This latest figure demonstrates the rapid acceleration of PS5 sales, as Sony announced in July 2023 that over 40 million units had been sold at that point. The significant jump over the last 5-6 months can likely be attributed to improved supply chain conditions and increased inventory after early shortages due to production issues and high demand leaving many gamers unable to get their hands on the new console.

Sony Interactive Entertainment President and CEO Jim Ryan expressed gratitude to PlayStation fans and excitement that for the first time since launch, there is now ample supply to meet holiday season demand. “We’re grateful for all of our players who have joined the PS5 journey so far, and we’re thrilled that this is the first holiday season since launch that we have a full supply of PS5 consoles — so anyone who wants to get one can get one,” he said.

The pace of 50 million PS5 sales mirrors that of its predecessor, the PlayStation 4, almost exactly. The PS4 had also sold 50 million units about two years after debuting. Given the supply constraints impacting the games industry over the past couple of years, it’s an impressive achievement for the PS5 to have kept pace.

Industry analysis points to strong momentum in the future as well. According to data from Ampere Analysis cited by the Financial Times, PlayStation sales were up 65 percent year-over-year reaching 22.5 million units this year, outpacing sales growth of Nintendo‘s Switch and Microsoft‘s Xbox which declined 18 percent and 15 percent respectively. That puts Sony on a path to reach its target of 25 million PS5 shipments for the fiscal year ending March 2024.

With supply issues seemingly resolved and a stellar games lineup ahead, the PS5 is poised for another year of explosive growth. Sony’s blockbuster console has quickly become the fastest-selling PlayStation system ever made, and reaching 50 million units sold is just the latest sign of its immense popularity among gamers.