The global games and puzzles market size is anticipated to reach USD 47.83 billion by 2027, exhibiting a CAGR of 18.6% over the forecast period, according to a new report by Grand View Research, Inc. In the era of increasing popularity of electronic games and toys, the presence of a wide range of audiences has helped to keep the market buoyant. Furthermore, increased focus of manufacturers on developing educational games and toys is contributing to the market growth. The growing adult population and their inclination towards the indoor board and card games are key factors driving the industry growth. Manufacturers are also focusing on continuously adapting innovative methods in designing games and puzzles. Additionally, the increasing number of imports has led manufacturers to develop low-cost toys to appeal to price-sensitive customers.
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Growing usage of social media platforms is anticipated to offer new growth prospects in near future. Key market players have started designing puzzles that are specially made for display on social media platforms such as Instagram and YouTube. Puzzle enthusiasts are also providing an impetus to the market growth by using exciting and trending hashtags, promoting people to adopt puzzle solving as a new hobby. Moreover, puzzle-solving facilitates creativity while social media platforms enable people to showcase their talent and help similar groups to join communities. Both these factors are anticipated to further fuel the growth of the market in near future.
New trends in puzzle manufacturing have led to the development of 4D puzzles that offer promising growth opportunities. 4D puzzles are made using a 2D jigsaw puzzle base, wherein 3D puzzle pieces can be affixed using time as a reference. Time acts as the fourth dimension and aids users to piece puzzles together in a chronological manner. 4D puzzles enable users to understand the development of a city, understand and explore historical buildings and architectural styles, and offer an innate sense of its geography.
Key suggestions from the report:
- The licensed games segment is expected to highest growth rate, owing to emerging demand among individuals to use more authentic products and have more relatable experiences
- The e-commerce segment is expected to expand at a CAGR of over 21% from 2020 to 2027, attributed to growing proliferation of smart devices and the widespread use of internet
- The puzzles segment is expected to portray the fastest CAGR during the forecast period, due to wide adoption of educational puzzles
- Increased demand for licensed games and puzzles is anticipated to help the Asia Pacific region register the fastest over the forecast period
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Grand View Research has segmented the global games and puzzles market on the basis of licensing, distribution channel, type, and region:
Games And Puzzles Licensing Outlook (Revenue, USD Billion, 2016 – 2027)
Games And Puzzles Distribution Channel Outlook (Revenue, USD Billion, 2016 – 2027)
- Brick & Mortar
Games And Puzzles Type Outlook (Revenue, USD Billion, 2016 – 2027)
Games And Puzzles Regional Outlook (Revenue, USD Billion, 2016 – 2027)
- North America
- Asia Pacific
- Latin America
List of Key Players of the Games And Puzzles Market
- Buffalo Games
- Hasbro, Inc.
- Mattel, Inc.
- Ceaco, Inc.
- Ravensburger AG
Find more research reports on Homecare & Decor Industry, by Grand View Research:
Playing Cards And Board Games Market – The global playing cards and board games market size was valued at USD 11.95 billion in 2018 and is expected to expand at a CAGR of 8.7% over the forecast period.
Toys & Games Market – The global toys and games market size valued at USD 101.5 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 4.6% from 2019 to 2025.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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