CHICAGO, September 20, 2021 /PRNewswire/ — During the COVID-19 lockdown, it was more important than ever to explore new ways for people to feel socially connected. Online and indoor games have proven to be a lifeline for people amid the COVID-19 lockdown in different countries. The families took games out of the back of the cupboard and sat around the table again. The housemates have found new online and offline games to pass the time on the weekend. Additionally, video games can transport someone outside of themselves. Video games these days often have deep themes that make players experience adventure. This gave a boom to the gaming market.
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Board Games Market – Global Outlook and Forecast 2021-2026
the board game market will reach USD 29.87 billion by 2026, growing at a CAGR of 12.71% during the period 2021-2026.
Over the past decade, the popularity of board games has skyrocketed with the launch of several new products in the market. The board game market has been strong despite intense competition from digital sources of entertainment. The COVID-19 outbreak has had a profound impact on the video game industry. Digital platforms in the gaming industry have seen development due to the increase in the use of gadgets in the residential sector, while conventional gaming setups have suffered losses due to disruptions in the sector of retail. Companies in the board game market are focusing on resuming market growth by prioritizing customer-centric operations.
- There are several reasons for the significant growth seen in the global board game market, including the emergence of board game conventions, gaming cafes, nerd culture, and an increase in millennial spending on nostalgia, among others.
- The Board Games Market by Puzzle Segment is Expected to Reach $10.84 billion by 2026 growing at a CAGR of 12.92% over the forecast period.
- The government of India appealed to start-ups in the country to focus on the development of local board games. This should boost investor confidence in the smaller players over the forecast period.
- After the COVID-19 outbreak, market dynamics have changed drastically. Sellers are now concentrating to deal with the volatile market situation. For example, Mattel, one of the leading vendors in the market, is currently focusing on making profits rather than investing in innovations.
- North America will continue its market dominance during the forecast period. APAC is expected to experience strong demand for conventional games during the forecast period.
- New businesses are catching up with established vendors and are expected to erode the market share of established vendors over the forecast period.
The board game market includes segments by product (puzzle, tabletop, card and dice, collectible card, miniature and RPG), theme (strategy and warfare, educational, fantasy, sports and others) and distribution (online channel and retail (specialty stores, mass market players and others).
The main publishers in the board game market are Asmodée Éditions (Group), Hasbro, Mattel and Ravensburger.
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Fantasy Sports Market – Global Outlook and Forecast 2021-2026
the fantasy sports market will reach USD 2.24 billion by 2026, growing at a CAGR of 13.98% during the period 2021-2026.
Over the past 15 years, the gaming industry has completely evolved from traditional consoles to technologically-enhanced graphical mobile entertainment with live video streaming aided by cloud-based infrastructure. The COVID-19 lockdown has benefited the gaming industry, leading to rapid growth in recent months. Due to the increase in data consumption and consumer usage of smartphones, there are huge opportunities for growth in various parts of the world, driving new ways to play, engage and pay.
- In recent years, the mobile industry has grown rapidly due to technologically upgraded features. The number of active smartphone users for 5G is expected to surpass 700 million by 2026. The increase in 5G connectivity would open up prospects for the online gaming industry over the next few years.
- The fantasy football market in Europe should reach $220.42 million by 2026, growing at a CAGR of 13.81% over the period 2020-2026.
- North America accounts for the largest share of 68% in the global fantasy sports market.
- The women’s segment of global fantasy sports is expected to experience incremental growth of $255 million in North America due to the growing awareness of fantasy sports among women via social networking sites.
- Fantasy football is the fastest growing market in the world and is expected to register a CAGR of 14.46% during the forecast period.
- Technological advancements in product offerings and operations across the globe are key to the growth of various vendors in the market.
the fantasy sports market includes segments by fantasy sports (soccer, football, basketball, baseball, hockey, golf, cricket and others), gender (men and women) and platforms (app and website).
The major 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 2020-2025.
Esports is a booming global industry where skilled video gamers play competitively. The industry is growing globally where around 1.7 billion people watch esports globally both online and in person. The global esports market is expected to grow with increasing viewership, centralization of teams, and continued adoption of traditional franchise-style leagues. Esports attracts many investors looking to seize the opportunities.
- The global esports sponsorship market is expected to reach $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 audiences with a compelling stadium experience of esports leagues and competitions.
- Esports games such as MOBA and PvP games dominated the market as 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 compared to PC and console games. This allows for better economy and higher dollar value for players in tournament production.
- Various investments should be made in esports infrastructure, such as developing new arenas, renovating existing arenas with required equipment for esports, and improving provided facilities to improve players’ gaming experience in tournaments.
the sports market includes segments by revenue (game publisher fees, merchandise and tickets, advertising, sponsorships and media rights), games (online multiplayer battle arena, player versus player, first-person shooters and real-time strategy ) and electronic platform (PC (console-based esports, console-based esports, mobiles and tablets)
The major players in the esports market are Activision Blizzard, Electronic Arts, Modern Times Group (MTG), Take-Two Interactive Software, Tencentand Valve Corporation.
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