The global board games market is expected to grow by USD 5.81 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled Global Board Games Market 2020-2024 (Graphic: Business Wire)
Vendors in the market are focusing on developing story-driven board games with improved detailing to offer a superior immersive experience to users. For instance, Hasbro launched the Risk Vikings Edition in 2018. The game enables users to imagine themselves as one of the Viking tribes attempting to capture countries and kingdoms across Europe. It also allows users to hire independent mercenaries to assist in battles. The introduction of such features ensures strong engagement throughout the duration of play. Therefore, rapid improvements in content and gameplay features are expected to boost the growth of the global board games market during the forecast period.
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As per Technavio, the increasing support through crowdfunding platforms will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Global Board Games Market: Increasing Support Through Crowdfunding Platforms
Crowdfunding platforms allow vendors to seek funding for further development of their games. They also partner with game developers and distributors to assist the smooth movement of products throughout the entire product lifecycle. Moreover, crowdfunding platforms open avenues for independent game developers to explain the game concept and raise funds for development. With crowdfunding platforms becoming increasingly successful, the growth of the global board games market will accelerate during the forecast period.
"Rising popularity of strategy-based games and the increasing demand for premium-board games will further boost market growth during the forecast period", says a senior analyst at Technavio.
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Global Board Games Market: Segmentation Analysis
This market research report segments the global board games market by product (tabletop, card and dice, and role-playing), distribution channel (offline and online), and geography (APAC, Europe, MEA, North America, and South America).
The European region led the board games market in 2019, followed by North America, APAC, MEA, and South America respectively. During the forecast period, the European region is expected to register the highest incremental growth. This is due to the strong presence of board game cafes in the region that offer premium board games for a nominal fee.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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