Global Board Games Market 2019-2023
About this market
Rapid improvements in content designs and gameplay quality will drive the growth of the market during the forecast period. The development of story driven board games involves a framework that enables participants to interact with each other in an easy and non-superficial manner while ensuring strong engagement throughout the duration if the play. The classic board games have undergone updates in illustrations and gameplay to cater to changing market demand. Technavio’ s analysts have predicted that the board games market will register a CAGR of nearly 17% by 2023.
Rising popularity of strategy based games
The global board games market is witnessing the rising popularity of strategy based games. Vendors are increasingly focusing on making game management easy. Game developers are able to streamline gameplay and game management in a better way by handling over the responsibility of running strategy based game to smartphone applications.
Threat from alternate gaming platforms
The growing threat from alternative gaming platforms is expected to hinder the growth of board games market. Factors such as rising penetration of mobile devices has seen the emergence of myriad mobile based games. Further, technological advances enables these applications to offer superior engagement and immersive experience. through extensive storytelling and detailing.
For the detailed list of factors that will drive and challenge the growth of the board games market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies. Factors such as the rapid improvements in content designs and gameplay quality coupled with rising popularity of strategy based games, will provide considerable growth opportunities to board games market. CMON Limited asmodee, Hasbro, Mattel, and Ravensburger AG are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global Board Games Market 2019-2023
Technavio recognizes the following companies as the key players in the global board game market: CMON Limited asmodee, Hasbro, Mattel, and Ravensburger AG.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the increasing digitization of board games”
According to the report, one of the major drivers for this market is the rising popularity of strategy based games.
Further, the report states that one of the major factors hindering the growth of this market is the threat from alternative gaming platforms.
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