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| Board Games Market - Strategic Assessment and Forecast 2017-2022 |
The gaming industry is on the verge of transformation. Initially, the gaming industry was dominated by video games and PC consoles, however, board games are gaining popularity as a mainstream entertainment source among families, kids, and millennials. An increased interest from different age groups has resulted in the development of new board game in the last one decade.
In the recent years, the retail sale of board game has increased tremendously, and the demand has mainly been from the teen and adult population. This age group prefers to go out and play board games rather than sitting in their living rooms and playing digital games, which lack the sense of interaction. A recent report on “Global Board Games Market – Strategic Assessment and Forecast 2017-2022” published by Beige Market Intelligence states that the global market is going to witness huge growth during the period 2016–2022.
The market is likely to grow at a CAGR of 9% during the period 2016–2022. What factors are responsible for the growth of the market? The answers are given below.
Increasing Millennials Population
Board games are gaining popularity among millennial generation as they are one of the best ways to enjoy with families and friends. These games are not only popular among nerds and grade-schoolers but they are mostly played and purchased by average folks. While capitalizing on the market sentiment, game designers and publishers are also rolling out classic board games of the 1990s generation with modern enhancements. These are available in different themes, ranging from pirates to pandemics. Some of the common themes are strategy and wars, fantasy, and education.
Growing Crowdfunding Platforms for Board Game Publishers
Board games are witnessing a high-value proposition for investors and general population than other advanced video games. In the era of the digital world, where the video game market is growing, board game market is also gaining traction. In 2015, board games raised over $200 million through crowdfunding platforms compared to $102 million raised for video games. A major factor that is encouraging the general population to invest in these games is that they are easy to understand and people can connect with the concept rapidly and can set realistic targets.
Shifting Themes of Board Games
Board games have evolved over the period of time. Nowadays, the focus of publishers is to engage players strategically while providing adventure. Strategy-based games with sci-fi, adventure, and wargame themes are gaining popularity across the globe. Wargame theme-based strategic games have been historical influential. Historical wars add to children’s curriculum and encourage them to play such games. For example, Avalon Hill is a wargame, which is now produced by Multi-Man Publishing.
In addition, the popularity of TV series games such as Game of Thrones, where seven kingdoms are fighting for the reign, is also encouraging gamers to play these theme-based games. After the huge popularity of the show, the second version of Game of Thrones was launched in 2011.
Similarly, scrabble, one of the most popular word building game and education-based board game, updated its dictionary to add 5,000 new words. These words might not be present in the conventional dictionary, but are frequently used in the existing internet age.
The shift from the tactical to strategical design types has attracted adults. This age group prefers to finish the game in a certain duration of time rather than finishing it in long hours. These young adults prefer to play board games as they need to interact with fellow players in a meaningful way.
The market report also includes the leading trends, major regions, top countries and major vendors in the market. It profiles major companies in the global board game market and provides the competitive landscape of the leading players. It covers the entire market outlook regarding the value chain operating in the market.
Increasing number of vendors in the market
Major vendors profiled in the report are as following:
- Asmodée Editions
- Hasbro
- Mattel
- Ravensburger
Other vendors include Asmadi , Bezier , BoardGameDesign.com, Clementoni, , Disney, Gibsons, Goliath BV, Grey Fox , Fremont Die Consumer Products, Indie Boards and Cards, INI LLC, International Playthings, Kamings Trade, Learning Resources, Legendary Games, Loony Labs, Ludo Fact, Mayfair Games, Melissa & Doug, Mindware.com, North Star Games, Orchard Toys, Panda GM, Paul Lamond Games, Playroom Entertainment, Pegasus Spiele, Piatnik, Pressman Toy, RoosterFin, Reaper Miniatures, Rio Grande Games, Schmidt Spiele, Spin Master, Spontuneous Games, Surprised Stare Games, SunsOut, Talicor, The Haywire, The Regency Chess Company, ThinkFun, TREND Enterprises, Ultra PRO International, University Games, USAopoly, Winning Moves Games, Wonder Forge, and Zobmondo.
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