Board Games Market size is set to grow by USD 4.37 billion from 2024-2028, Rapid improvements in content and gameplay boost the market, Technavio

NEW YORK, June 4, 2024 /PRNewswire/ -- The global board games market size is estimated to grow by USD 4.37 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.8% during the forecast period.

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Market Driver

Board games are evolving with technological advances, with publishers integrating mobile applications and online versions. In April 2021, Hasbro partnered with Roblox Corp. to introduce Roblox-inspired games and a digital MONOPOLY version. Mobile apps support games like The Settlers of Catan and Mansion of Madness, offering game timers, tutorials, and graphics. This digitization is expected to boost board game adoption and market growth. 

The board games market is experiencing significant growth with various new and classic games gaining popularity. Online platforms are making it easier for consumers to purchase and play games such as Settlers of Catan, Ticket to Ride, and Pandemic. Social games like Cards Against Humanity and Codenames are also trending.

Educational games like RPGs and strategy games are in high demand, with Chess and Scrabble making a comeback. Tech-savvy games like Minecraft and Fortnite are also driving market growth. Board games provide a unique experience, offering entertainment, social interaction, and cognitive benefits. The market is expected to continue expanding, with digital and physical sales contributing equally. 

Market Challenges

• The global board games market faces competition from the increasing popularity of mobile games. Technological advancements allow mobile games to offer superior engagement and accessibility, attracting and retaining gamers.
• Popular mobile games like Pokemon GO and PlayerUnknown's Battlegrounds have gained significant traction. Most mobile games are free, with publishers earning revenue from in-game ads and virtual purchases. Console and PC gaming publishers also offer competitive pricing for their titles, posing a threat to the board games market.
• The board games market faces several challenges in the present and future. These include increasing competition from digital games, changing consumer preferences, and the need for innovation to keep up with trends. Diversifying product offerings, such as educational and strategic games, can help companies cater to various demographics.
• Additionally, collaborations and partnerships can bring new ideas and technologies to the table. Digits and cards, pieces and boards, strategy and chance - these are the elements that make board games unique. However, adapting to the changing market landscape requires continuous effort and creativity.
• Companies must also ensure quality and affordability to maintain customer loyalty. Overall, the board games industry presents both opportunities and challenges, requiring a strategic approach to stay competitive.

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Segment Overview 

1. Product 
• 1.1 Tabletop
• 1.2 Card and dice
• 1.3 Role-playing
2. Distribution Channel
• 2.1 Online
• 2.2 Offline
3. Geography 
• 3.1 Europe
• 3.2 North America
• 3.3 APAC
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Tabletop- The board games market is thriving, with sales consistently increasing. Companies produce a wide range of games, catering to various age groups and interests. Retailers stock these products in physical stores and online platforms, ensuring accessibility for consumers. Distributors facilitate the delivery of games to retailers, maintaining a steady supply. The industry's growth can be attributed to its ability to provide entertainment and social interaction, making it a popular choice for individuals and families.

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Research Analysis

The Board Games Market encompasses a wide range of mental stimulating activities, catering to various age groups and skill levels. Parents increasingly recognize the value of these games in promoting healthy mental development, particularly in the context of electric device addiction among children. Board games like Chess, Tabletop, Chance, Memory, and their numerous variations, offer an engaging alternative to digital games during leisure time.

These games provide opportunities for stress relief, mental relaxation, and social interaction, making them a popular choice for individuals seeking to unwind and connect with others. The Board Games Market transcends cultural boundaries, providing a platform for individuals to engage in friendly competition and skill-building.

The market continues to grow, fueled by the increasing demand for screen fatigue alternatives and the digital technology revolution. Cafes, hotels, restaurants, and online applications/websites serve as popular venues for board game enthusiasts to gather and enjoy their favorite pastimes.

Market Research Overview

The board games market encompasses a wide range of tabletop games that engage players in strategic thinking, problem-solving, and social interaction. These games come in various formats, including strategy, role-playing, trivia, and more. They are often designed for multiple players and can be categorized by complexity level, age appropriateness, and game duration.

Board games provide an excellent alternative to digital entertainment, offering a unique experience that fosters creativity, critical thinking, and communication skills. The market for board games continues to grow, driven by the increasing popularity of these games and the ongoing demand for innovative and engaging gameplay experiences.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Tabletop
• Card And Dice
• Role-playing
• Distribution Channel
• Online
• Offline
• Geography
• Europe
• North America
• APAC
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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