Xbox One X takes on PlayStation 4 Pro, but it won't be easier for Microsoft's 'Project Scorpio' console to beat Sony

Xbox One X seems to be a powerful performer when we look at the specs. But, we still need to wait and see how consumers react once it hits stores in November.

Xbox One X vs PS4 Pro — Kareem Choudhry, Xbox Vice President, introduces the Xbox One X gaming console during the Xbox E3 2017 media briefing in Los Angeles, California, U.S., June 11, 2017.REUTERS/Kevork Djansezian

At the Electronic Entertainment Expo (E3) 2017 press conference on Sunday, Microsoft's "Project Scorpio" finally got an official name – the Xbox One X. The brand new console, which comes with some beefy specs, will hit stores in select markets on November 7 and will cost $499 (around Rs. 32,119).

One of the most exciting details shared by Microsoft during the event was that Xbox One X owners would be able to play 4K resolution gaming at 60 frames per second (FPS). This is indeed a thrilling enhancement for gamers since the existing Xbox One S is capable of 4K and HDR output for videos and 4K Blu-rays while it supports only HDR for games.

The Xbox One X will definitely heat up the gaming console war once consumers start getting their hands on it later this year. What is likely to get more exciting is the battle between Microsoft and Sony as the later has been predicted to continue to dominate the console market in 2017.

Before getting into the market projections, let's have a look at how the latest Xbox One X stack up against Sony's upgraded version of the PlayStation 4, the PS4 Pro, which was released last year.

Sony's upgraded version of the PlayStation 4, the PS4 Pro, was released last year.playstation.com

Here's a side-by-side comparison of specs:

As far as the hardware is concerned, the new Xbox One X does look impressive with higher clock speed and more RAM while consuming less power than the PS4 Pro.

However, the truth is that hardware doesn't tell the whole story. We'll have to wait for the Xbox One X to make it to consumers' hands and see how it's received by the gaming community to determine the actual winner.

Meanwhile, Sony continues to be the market leader when it comes to overall gaming console segment.

According to a recent report by IHS Markit, Sony dominated the console market in 2016 with 57 percent market share and $19.7 billion of spending on console hardware, games content and services. Sony's winning run is expected to continue in 2017 as its overall sales value is predicted to touch $20 billion "as the company drives through its strategy to aggressively build its digital console business."

In 2016, Sony's PlayStation 4 was responsible for almost double the sales value of hardware, content and services compared to Microsoft's Xbox One. PlayStation 4, on the other hand, ended 2016 with an installed base of 53 million units compared to Xbox One's 27.6 million.

To be honest, the PS4 has won the console war already, and while it will continue to impress more throughout the year, Microsoft will have to amplify the hype around the Xbox One X so that it attracts more consumers once it is available.