Board Games Market Recorded 7.14% Y-O-Y Growth Rate in 2021| Rapid Improvements in Content & Gameplay to Boost Market | 17000 + Technavio Reports

16 31/07/2022

Driver -The key factor driving growth in the board games market is the rapid improvements in content and gameplay. Manufacturers are increasingly focusing on developing story-driven board games with ample detailing to offer superior immersive experiences. These games involve a framework that enables participants to interact with each other in an easy and non-superficial manner while ensuring strong engagement throughout the duration of play. Classic board games such as Monopoly, Scrabble, Clue, and Life have undergone frequent updates in illustrations and gameplay to cater to changing market demand. Licensing deals between board game developers and popular movie and TV franchises also enable the development of story arcs and character updates in board games.

Trend - The increasing digitization of board games is the major trend supporting the board games market share growth. Leveraging technological advances, several board game publishers are increasingly incorporating mobile applications as part of the gaming experience. Apart from replicating successful board game versions on mobile platforms, vendors are also using mobile applications to assist in gameplay. Popular board games such as The Settlers of Catan (Thames & Kosmos) and Mansion of Madness (Asmodee Holding) offer mobile applications for assisting in various aspects of game setup and gameplay management that include game timers and tutorials with immersive graphics and soundtracks.

Challenges - Threat from alternate gaming platforms will be a major challenge for the board games market during the forecast period. The rising penetration of mobile devices such as smartphones and tablets has seen the emergence of myriad mobile-based game offerings that target gamers of different age groups. Technological advances enable these applications to offer superior engagement and immersive experience through extensive storyboarding and detailing. Moreover, factors such as ease of access, better graphics, and content interactivity enable mobile games to attract and retain gamers at a rate higher than traditional board games.

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Company Profiles

The board games market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. The board games market report includes information on the product launches, sustainability, and prospects of leading vendors including Asmodee Holding, Atlas Games, Clementoni Spa, CMON Ltd., Franckh-Kosmos Verlags-GmbH & Co. KG, Hasbro Inc., Mattel Inc., PD-Verlag GmbH & Co. KG, Ravensburger Group, and The Goliath Games LLC.

Competitive Analysis

The competitive scenario provided in the board games market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.

Market Segmentation Analysis

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Board Games Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 7.30%

Market growth 2021-2025

USD 2.56 billion

Market structure

Fragmented

YoY growth (%)

7.14

Performing market contribution

Europe at 34%

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Asmodee Holding, Atlas Games, Clementoni Spa, CMON Ltd., Franckh-Kosmos Verlags-GmbH & Co. KG, Hasbro Inc., Mattel Inc., PD-Verlag GmbH & Co. KG, Ravensburger Group, and The Goliath Games LLC

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

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SOURCE Technavio

 Board Games Market Recorded 7.14% Y-O-Y Growth Rate in 2021| Rapid Improvements in Content & Gameplay to Boost Market | 17000 + Technavio Reports

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