Board Games Market to Attain Value of $30.93 Billion By 2028 Thanks to Increased Popularity of Online Gaming and Entry of New OTT platforms In Board Gaming

Global board games market was valued at USD 13.75 billion in 2021, and it is expected to reach a value of USD 30.93 billion by 2028, at a CAGR of 13.70% over the forecast period (2022-2028).

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Westford, USA, July 19, 2022 (GLOBE NEWSWIRE) -- Over the years, board games market has evolved from simple pastimes to strategic competitions with a high level of complexity. This trend is expected to continue in the coming years, as new and exciting game mechanics are invented. There is no question that board games are enjoying a surge in popularity. In recent years, there has been an increasing demand for board games both online and offline. This is due to a number of reasons, including the overall growth of the gaming industry as a whole.

One of the most popular trends in global board games market right now is co-operative games. These are games where players work together to achieve a common goal. They are often more complex than competitive games, and can take longer to play. This makes them ideal for families who want to bond over a game together. Apart from this, global board games market is witnessing growth in popularity of dice-based games. These are games that rely on dice rolls to determine outcomes. They are notoriously time-consuming to play, but can be quite lucrative.

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These Trends Could Bring Big Money and Fame to the Board Games Market in the Future

One trend is the rise of esports. Competitive video gaming has exploded in popularity over the past few years, with millions of people watching tournaments online. In 2018, the Esports Professional Association (EPS) estimated that esports will be worth $1.5 billion by the end of 2022. If that trend continues, it’s likely that more money will flow into the board game industry as well.

Another trend in the global board games market is virtual reality (VR). VR technology is still in its infancy, but there is no doubt that it will become more popular in the future. This is due to the fact that VR allows players to experience games in a completely new way. For example, user can walk around a character in a game like The Witcher 3 while playing it. This potential for new types of game play has already started to drive interest in VR games and may even lead to more board game adaptations in the future.

Mechanical keyboards are another trend that appear to be on the rise. Mechanical keyboards originated in a few usages many years ago, like for gamers when playing board games where being able to move fingers quickly and easily was crucial. While most modern boards are wireless, there is one keyboard exception: mechanical keyboards. Being that major hardware manufacturers like HP and Acer produce them, it comes as no surprise that they’ve become hot cakes lately.

How the internet has shaped board games Market

Board games have always been a popular form of entertainment, but they've recently experienced a surge in popularity thanks to the internet. The internet has shaped the board game industry in many ways, and one of the most significant trends is the growth of crowdfunding platforms.

 Crowdfunding platforms allow fans of a particular board game to contribute money to help fund the development of that game. This allows new and unknown designers in the global board game market to get their creations funded without having to rely on major publishers. As a result, we are seeing more innovative and creative board games being developed than ever before.

Another factor that has been impacted by the internet is the growth of digital downloads. Many people now prefer to play board games online instead of at home. This is because online boards games are easy to start and can be played with multiple people at once. Thus, digital downloads have contributed significantly to the growth of the board game industry.

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Digital Gaming Platforms Have Intensified Board Games Market Growth

As the world becomes increasingly digital, more and more people are turning to digital gaming platforms as a way to escape from reality. This is why game developers are continually trying to develop new and exciting games that can captivate players. One factor that is expected to be particularly lucrative is the expansion of board games into new markets. For example, some game developers are working on developing board games that can be used in education settings. Additionally, global board game market is witnessing growing demand for games that can be used in business settings. As such, it is important for game developers to have an understanding of these markets and how best to capitalize on them.

Another trend that is predicted to be lucrative in the board game market is the development of multiplayer games. These games allow multiple players to participate in the same scenario, which makes them very hype-able. As a result, many game developers are currently working on multiplayer versions of their popular titles.

Overall, the board games market report by SkyQuest Technology provides insightful information about the current trends in the gaming industry. By understanding these trends, game developers can determine how to adapt to these changes and improve their strategies for success.

Streaming Giants Like Netflix are Entering the Board Games Market

OTT (over the top) apps are slowly but surely entering the online board game industry. These apps allow users to watch TV shows, movies, and other content on their phones or tablets without having to download any additional software. This has caused the market for online board games to grow rapidly as people look for an alternative to traditional board games.

Netflix was the first OTT app to enter the board games market. They released a version of their popular show "Stranger Things" specifically designed as a board game. The app is available on both Android and iOS devices, and it has been downloaded over 2 million times.

Other OTT apps have followed suit. HBO released an app called "Game of Thrones: The Board Game" which is based on the popular show of the same name. It has been downloaded over 1 million times and has received positive reviews from users. Other OTT app developers are likely to follow suit in order to compete with Netflix.

The benefits of releasing an OTT app specifically designed as a board game are clear. First, users can access the app without having to download any additional software. Second, users can play the app anywhere there is Internet access. Finally, OTT apps are easy to develop, and they don't require any significant investment. As a result, the OTT platforms in the global board games market are gaining huge number of users, which are further driving up their market revenue.

The downside of releasing an OTT app specifically designed as a board game is that it is likely to be less popular than traditional board games. This is due to the fact that OTT apps are limited in scope, and they are not as well-known as traditional board games. However, this may change in the future as OTT apps become more popular and well known.

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Major Companies in Board Games Market

  • Hasbro Inc. (US)
  • Buffalo Game LLC (US).
  • Mattel Inc. (US)
  • WinGo (Colombia)
  • Façade Games (US)
  • LUAFACT GMBH (Germany)
  • Master Game Ltd. (UK)
  • Kickstarter (US)
  • Goliath B.V. (Netherlands)
  • Ravensburger AG (Germany)
  • Grand Prix International (Thailand)
  • PAI Partners (France)

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