Indoor and online gaming market revenues skyrocket after coronavirus lockdown
CHICAGO, September 20, 2021 / PRNewswire / – During the lockdown related to COVID-19, it was more important than ever to examine 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. Families took games out of the closet and sat down around the table again. Roommates have found new online and offline games to pass the time on the weekends. Additionally, video games can transport someone outside of themselves. Video games these days often have deep themes that bring adventure to gamers. This has given a boom to the gaming market.
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Board Games Market – Global Outlook and Forecast 2021-2026
The size of the board games market will reach USD 29.87 billion by 2026, with 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 gaming industry. Digital gaming industry platforms have experienced development due to the increase in the use of gadgets in the residential sector. , while conventional gaming setups have suffered losses due to disruption in the retail industry. Companies in the board game market are focused 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 for nostalgia, among others. .
- Board games market by puzzle segment is expected to reach $ 10.84 billion by 2026, with a CAGR of 12.92% during the forecast period.
- The government of India called on start-ups across the country to focus on developing local board games. This is expected to boost investor confidence in small-scale players over the forecast period.
- After the COVID-19 outbreak, market dynamics have changed dramatically. Sellers are now focusing on the volatile market situation. For example, Mattel, a leading supplier to the market, is currently focused on making profits rather than investing in innovations.
- North America will continue to dominate the market during the forecast period. The APAC is expected to witness strong traction in demand for conventional games during the forecast period.
- New companies are catching up with established suppliers and are expected to erode the market share of established suppliers over the forecast period.
The board games market includes segments by product (puzzles, tabletop, cards & dice, collectible cards, miniatures & RPGs), by theme (strategy & warfare, educational, fantasy, sports and others), and by distribution (channel in online and retail (specialty stores, mass market players, etc.).
The main suppliers to 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 size will reach USD 2.24 billion by 2026, with 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 developed graphical mobile entertainment with live video streaming assisted 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 the use of smartphones by consumers, huge growth opportunities have been created in various regions of the world, resulting in new ways of playing, engaging and paying. .
- In recent years, the mobile industry has grown rapidly with technologically enhanced features. The number of active 5G smartphone users is expected to exceed 700 million by 2026. The increase in 5G connectivity would create opportunities for the online gaming industry in the coming years.
- The fantasy football market at Europe should reach $ 220.42 million by 2026, with a CAGR of 13.81% in 2020-2026.
- North America accounts for the largest 68% share of the global fantasy sports market.
- The female segment of global fantasy sports is expected to experience gradual 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 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 (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 size of the esports market will reach $ 2.69 billion by 2025, with 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 growing globally, where approximately 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 capitalize on the opportunities.
- The global esports sponsorship market is expected to reach $ 1.56 billion by 2025, with 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 offers the public a fascinating 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 a higher dollar value per player in tournament production.
- Various investments are expected to be made in esports infrastructure such as the development of new arenas, the renovation of existing arenas with the necessary esports equipment and the improvement of the facilities provided to improve the playing experience of players in tournaments. .
The esports market is comprised of segments by revenue (game publisher fees, merchandise and tickets, advertising, sponsorships and media rights), games (multiplayer online combat arena, player vs. player, firsthand shooters people and real-time strategy) and e-platform (esports on PC, esports on consoles and mobiles and tablets)
The main players in the Esports market are Activision Blizzard, Electronic Arts, Modern Times Group (MTG), Take-Two Interactive Software, Tencent, and Valve Corporation.
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