CHICAGO, Sept. 20, 2021 /PRNewswire/ — During the COVID-19 lockdown, it was more important than ever to examine new ways for people to feel socially connected. Online and indoor games proved to be a lifeline for folks amidst COVID-19 lockdown in different countries. Families took out games from the back of the closet and sat around the table once again. Roommates found new games both online and offline to pass time on weekends. Additionally, video games can transport someone outside themselves. Video games these days often have deep themes that make players live the adventure. This has given a boom to games market.
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Board Games Market – Global Outlook and Forecast 2021-2026
The board games market size will reach USD 29.87 billion by 2026, growing at a CAGR of 12.71% during the period 2021-2026.
In the past decade, the popularity of board games soared with the launch of several new products into the market. The market for board games has been strong despite intense competition from digital sources of entertainment. The COVID-19 outbreak has had a profound impact on the gaming industry. Digital platforms across the gaming industry have witnessed development owing to the rise in utilization of gadgets in the residential sector whereas conventional gaming setups incurred losses due to the disturbance in the retail sector. Companies catering to the board games market are focusing on regaining topline market growth by prioritizing customer centric operations.
- There are several reasons for the significant growth witnessed in the global board games market, including the emergence of board game conventions, gaming cafes, nerd culture, and a rise in millennial spending for nostalgia, among others.
- The board games market by the puzzles segment is expected to reach USD 10.84 billion by 2026, growing at a CAGR of 12.92% during the forecast period.
- The Government of India has appealed to the start-ups in the country to focus on the development of local board games. This is expected to boost investor confidence in small scale players during the forecast period.
- Post-COVID-19 outbreak, the dynamics of the market have drastically changed. Vendors are now focusing to tackle the volatile situation in the market. For instance, Mattel, one of the prominent vendors in the market, is currently focusing on gaining profits rather than investing in innovations.
- North America will continue its market dominance during the forecast period. APAC is expected to witness strong traction in demand for conventional games during the forecast period.
- New companies are catching up with established vendors and are expected to erode market share of established vendors during the forecast period.
The board games market includes segments by products (puzzles, tabletop, card & dice, collectible card, miniature, and RPG), theme (strategy & war, educational, fantasy, sports, and others), and distribution (online and retail channel (specialty stores, mass market players, and others).
The key vendors in the board games market are Asmodée Éditions (Group), Hasbro, Mattel, and Ravensburger.
Fantasy Sports Market – Global Outlook and Forecast 2021-2026
The fantasy sports market size will reach USD 2.24 billion by 2026, growing at a CAGR of 13.98% during the period 2021-2026.
Over the last 15 years, the gaming industry has completely evolved from the traditional consoles to a technologically developed graphical mobile entertainment featuring live video streaming assisted by cloud-based infrastructure. The COVID-19 lockdown has benefited the gaming industry, resulting in rapid growth in recent months. Owing to the rise in data consumption and usage of smartphones among consumers has resulted in huge growth opportunities in various regions across the world, driving new methods of playing, engaging, and paying.
- In recent years, the mobile industry witnessed rapid growth due to technologically upgraded features. The number of active smartphone users for 5G is expected to cross 700 million by 2026. The increase in 5G connectivity would create avenues for the online gaming industry over the next few years.
- The fantasy soccer market in Europe is expected to reach USD 220.42 million by 2026, growing at a CAGR of 13.81% during 2020–2026.
- North America accounts for the largest share of 68% in the global fantasy sports market.
- The female segment in global fantasy sports is expected to witness incremental growth of USD 255 million in North America due to the rising awareness about fantasy sports among female through social networking websites.
- Fantasy football is the fastest growing market across the world and is projected to record a CAGR of 14.46% during the forecast period.
- Technological advancements in product offerings and operations across holds the key to growth for various vendors in the market.
The fantasy sports market includes segments by fantasy sports (football, soccer, basketball, baseball, hockey, golf, cricket, and others), gender (males and females), and platforms (application and website).
The key players in the fantasy sports market are CBS Corporation, DraftKings, FanDuel, Yahoo, and ESPN.
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Esports Market – Global Outlook and Forecast 2020-2025
The esports market size will reach USD 2.69 billion by 2025, growing at a CAGR of 16.11% during the period 2020-2025.
Esports is a booming global industry where skilled video gamers play competitively. The industry is witnessing growth globally where around 1.7 billion people watch esports worldwide both online and in person. The global esports market is projected to grow with increasing viewership, centralization of teams, and the continuous adoption of traditional franchise-style leagues. Esports is attracting many investors looking to capitalize on opportunities.
- The global esports sponsorships market is expected to reach USD 1.56 billion by 2025, growing at a CAGR of 15.21% during the forecast period.
- Augmented reality and virtual reality have revolutionized the esports industry to a great extent. Augmented reality in esports provides the audience with a mesmerizing stadium experience of esports leagues and competitions.
- Esports games such as MOBA and PvP games dominated the market as wherein MOBA accounted for a 41% market share, followed by PvP with a 22% share.
- Mobile games have lower barriers to entry and higher install rates in comparison to PC and console games. This allows for better economics and higher dollar-to-player value in producing tournaments.
- Various investments should be made in the esports infrastructure such as the development of new arenas, renovating the existing arenas with equipment required for esports, and improving the facilities provided to enhance the gaming experience of players in the tournaments.
The esports market includes segments by revenue (game publisher fee, merchandize & tickets, advertisement, sponsorships, and media rights), games (multiplayer online battle arena, player vs. player, first person shooters, and real-time strategy) and e-platform (PC-based esports, consoles-based esports, and mobile & tablets)
The key players in Esports market are Activision Blizzard, Electronic Arts, Modern Times Group (MTG), Take-Two Interactive Software, Tencent, and Valve Corporation.
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