Board Games - Canada

Canada

The Board Games market in Canada is poised for growth, with total revenue projected to reach €42.60m in 2022.
This represents a significant increase in revenue for the market.
Looking ahead, the market is expected to experience a steady annual growth rate (CAGR 2022-2027) of 7.74%.
This growth trajectory is anticipated to drive the market volume to reach €61.73m by 2027.
Within the Board Games market, in-app purchase (IAP) revenue is projected to play a significant role, with an estimated revenue of €19.95m anticipated in 2022.
This highlights the increasing popularity of in-app purchases within the gaming community.
Additionally, paid app revenue in the Board Games market is expected to reach €2.19m in 2022.
This showcases the willingness of consumers to invest in paid applications within the Board Games market.
Advertising revenue is also expected to contribute significantly to the market, with a projected revenue of €20.46m in 2022.
This indicates the value of advertising as a revenue stream within the Board Games market.
In terms of user engagement, the number of downloads in the Board Games market is projected to reach 27.95m downloads in 2022.
This demonstrates the strong demand for Board Games market within the Canadian market.
When considering the financial aspect, the average revenue per download is expected to amount to €1.52.
This metric provides insight into the revenue generated per individual download within the Board Games market in Canada.
In a global comparison, in the United States leads in terms of revenue generation within the Board Games market, with an estimated revenue of €1,090.00m in 2022.
This highlights the dominance of the United States in the global Board Games market industry.
Overall, the Board Games market in Canada is expected to experience robust growth in the coming years, driven by various revenue streams such as in-app purchases, paid apps, and advertising.
The projected revenue figures and market volume demonstrate the potential for success within this market segment in Canada.

Key regions: Europe, South Korea, United States, Germany, Japan

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Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.