Collectible Card Games Market Size. Covid-19 Impact, Forecast To 2029

(MENAFN- Straits Research) Introduction

Social media will be a significant driver of the worldwide collectible card game market in the projected future. This is because most games are available and linked to social media, allowing users to play with friends who are thousands of miles away. Furthermore, in the forecasted period, unfettered access to the game based on a social media profile is another element affecting the growth of the collectible card game market.

Over the years, gaming has seen several changes. Before the introduction of social media, participants in their gaming networks would promote collectible card games in person. The Internet of Things has accelerated information exchange by letting players sell their gaming adventures via social media. This has the impact of increasing exposure dramatically and gaining tremendous traction. Companies in the collectible card gaming industry use social media to promote players' news, commentary, reviews, and game highlights.

Today's youth are well-versed in video games and like sharing their experiences on social media. Most gamers use social media in some form or another, and every gamer is almost certainly on Facebook, Twitter, Instagram, YouTube, or Snapchat. Gaming firms have realized that social media platforms are an excellent tool for spreading information about new promotions, rewards, game launches, and fascinating facts, which keeps their following informed and helps them attract new players. Furthermore, in the form of platforms, gamers have established their own type of social media.

Because of the factors mentioned above, gaming firms increased their engagement on social media by establishing their funded pages and increasing their advertising expenditure for these pages.

Crypto Collectible Card Games Account for Growth of Market

Crypto Collectible Card Games are digital games where players collect and battle virtual cards. Each card has its abilities and attributes that can be used strategically in the game. This means that all players will have different experiences but can all play in a fair environment for everyone. These cards are built on the blockchain, which means that they are both unique and permanent. Players can trade or sell them for other cryptos Collectible Card Games. Even better, all of the proceeds go to the game's developers.

The widespread adoption of blockchain technology promises to usher in a bright new era for collectible card games. Collectible card games have occupied a unique position in the business for nearly three decades, with titles such as Magic: The Gathering, Yu-Gi-Oh, and Pokemon becoming popular names and internationally recognized brands since their beginnings.

The collectible card game scene is poised for a significant upheaval due to the introduction of blockchain technology and the resurgence of non-fungible tokens (NFTs). Collectible card games are currently played purely for entertainment purposes. Play-to-earn features and the ability for players to genuinely own the cards and digital things they obtain during the game, on the other hand, give its blockchain counterparts a whole new dimension to online gaming.

NFT games have recently gotten more attention than most blockchain games on the market. NFT-based card games have introduced several features not found in other games that use NFT collections. There were fewer blockchain-powered games two years ago, making it easier for players to make informed decisions about which games to play based on their features and incentives. However, as the NFT and DeFi spaces have risen in popularity, the number of available games has exploded, making it difficult for new and seasoned players to keep track of and learn everything there is to know about the greatest games on the market.

The COVID-19 outbreak has affected the global economy by directly affecting the production and demand, disruption of supply chain and market, and financial impact on the firm and financial market. This has positively impacted the collectible card game market as people stayed at home due to the imposed lockdown. There was an increase in the demand for online games in the lockdown that has increased players' revenue in this market. However, the offline stores faced issues due to the global closures for a short period.

The pandemic has introduced many people to the collectible card game market. Due to the covid-19-related restrictions, people spend more time at home, allowing them to collect games for their hobbies. They can socialize through the game, even if through remote locations. The games have aided a large number of people in various ways, including assisting people in escaping the pandemic's horrors. The outbreak had some positive outcomes for certain businesses. As a result of some people staying at home to avoid the virus, collectible card games became more popular. Some companies could sell more card games because they could reach new markets and generate more revenue.

Regional Insights

The top global companies hold a significant market share in the North American collectible card games market. In 2020, the major companies focused on increasing their customer base in this region. The market for collectible card games has been growing in the last few years, with the most recent trend being the increasing use of digital technologies to develop card games. These innovations have led to the market being opened up to a broader audience, rivaling the physical card game market.

The current policy for collectible card game markets in North America is not conducive to fostering healthy competition or ensuring the long-term success of the collectible card game industry. It is the collective opinion of the members of the CCG Policy Institute that the current policy, which taxes selected CCGs based on elements of the game's distribution system, impedes the proper growth and long-term health of the collectible card game market.

In North America, the US contributed the highest market share. The popularity of this genre of games has prompted an entire industry solely dedicated to their production and sale. The games are played by people of all ages and genders and are the most popular and highly valued ones and can be found in virtually every hobby and game store around the country. Furthermore, these games are available in both digital and physical formats, and they can be played against other people or the computer.

To thrive in the CCG marketplace, companies need to understand the government policies and their effect on the industry. Currently, federal law prohibits the sale of "magic: the gathering" and other similar products and services to minors and prohibits all companies from advertising and promotion on cards and products. Another federal law prohibits the sale of cards with minor models or the image of a minor on any card.

Key Highlights

• The global collectible card games market size was valued at
  USD 7.6 billion in 2023
  and is projected to reach a value of
  USD 23.9 billion by 2032 , registering a
  CAGR of 13.6%
  during the forecast period
  (2024-2032) .
  
• Among all the types of collectible card games, digital collectible card games will hold a market share of 70.5% in 2020. The digital collectible card games market is anticipated to witness faster growth during the forecast period. This is attributed to the increasing internet penetration in the developing economies among the younger generation.
• Among all the applications, collectible card games for a mobile device held a market share of 43.9% in 2020 and anticipated a faster growth rate during the forecast period. The high growth rate of the mobile device segment is due to the increasing development of games on mobile phone platforms.
• The card game industry has been overgrowing since the last few years, with more and more companies entering the industry. It provides a great way to unwind from stressful days of work for several young populations.
• The development of online collectible cards is the current collectible card game market trend. Many video game studios have created cards that can be used in their games.