Global Board Games Market to Post a CAGR of 23% Through 2018-2022 | Technavio
LONDON--(BUSINESS WIRE)--May 12, 2018-- market research analysts forecast the to post a CAGR of close to 23% during the forecast period. The market’s growth momentum is expected to decelerate over the forecast period owing to decline in the year-over-year growth.
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Technavio has published a new market research report on the global board games market from 2018-2022. (Graphic: Business Wire)
The growing development of apps based on board games is a key trend, which is expected to impact the market. The idea of developing applications based on board games has emerged due to the increasing use of smartphones. Although playing a board game on a smartphone will not give the experience that a traditional board game offers, it can at least become an option for playing board games rather than replacing it with a substitute. Taking advantage of the new digital technologies, some board game designers develop games which include mobile applications as a part of their gameplay. Some application-based board games include The Settlers of Catan, Galaxy Trucker, Exploding Kittens, Elder Sign: Omens. The integration of the offline board games with mobile applications is expected to bridge the gap between offline board games and digital games.
In this report, Technavio analysts highlight the revamp of classic games as a key factor contributing to the growth of the global board games market:
Revamp of classic games
Individuals of almost every age group play board games as a part of their leisure activity. Over time, board games have evolved with new features. Licensing with popular characters of Disney such as Frozen or Star Wars attracts kids. Life is a popular board game in the Americas. It has new versions that use electronic banking cards instead of cash. The increasing popularity of Game of Thrones, a TV series, has led to the introduction of its board game in the market. Moreover, traditional games such as Scrabble and Monopoly have been updated to cope with present market trends. Scrabble, a famous word building game, updated its dictionary with new words. These words might not be present in the traditional dictionary but are frequently used in the current age of the Internet.
According to a senior analyst at Technavio for research , “Some versions of Monopoly include ultimate a banking edition, Star Wars, Game of Thrones, Lord of the Rings, Disney theme park, and many others. These upgraded versions of classic games are expected to increase during the forecast period, which will drive the adoption of board games during the forecast period.”
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Global board games market - segmentation and analysis
This market research report segments the based on the type of products (tabletop board games, card and dice games, and RPGs), distribution channels (offline and online), and key regions (the Americas, APAC, and EMEA).
The tabletop board games segment dominated the market with close to 63% share. However, by 2022, this segment is expected to witness a decline of more than 3% in its share of the market while the card and dice games segment is expected to witness an increase of over 4% in its market share.
In 2017, EMEA accounted for over 51% share of the global board games market. It was followed by the Americas and APAC. With the increasing popularity of board games, the market in APAC is expected to grow, increasing its market share by close to 2% during the forecast period.
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INDUSTRY KEYWORD: ENTERTAINMENT ELECTRONIC GAMES OTHER ENTERTAINMENT GENERAL ENTERTAINMENT
SOURCE: Technavio Research
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PUB: 05/12/2018 01:34 PM/DISC: 05/12/2018 01:34 PM