CHICAGO--(BUSINESS WIRE)--Global Market Research Company Euromonitor International released today new toys and games industry data. According to the new research, global sales of toys and games reached USD $179.7 billion in 2015 with in-game purchases and construction toys accounting for 30 percent of sales across the industry.
In-game purchases were the biggest driver of revenue growth for video games, increasing 21 percent in 2015 to reach USD $44.6 billion. Mobile games reliant on purchases and the proliferation of smartphones was the main driver, but in-game purchases are becoming common in console and computer games.
Construction toys remained the fastest growing category globally for the eighth consecutive year, and the only segment to see double-digit growth at 14.2 percent within traditional toys in 2015.
“The release of Star Wars last year was the most significant growth driver within traditional toys with licensed LEGO construction toys recording a 16 percent increase,” Mykola Golovko, project manager at Euromonitor International, says.
Licensed toys totalled USD $20.6 billion last year, translating to a 10 percent increase globally. While toys will see continued influence from licensing, new technologies will lead forecast growth for video games.
Virtual reality (VR) gaming had a limited impact in 2015 with only 2 million headsets sold. However, new products are expected to bring the technology to a wider audience in 2016-2020.
“With the release of Oculus Rift, HTC Vive and PlayStation VR in 2016, the market is primed to see strong growth in the near future with annual sales reaching 25 million units by 2020,” Matthew Hudak, toys and games industry analyst at Euromonitor International, says.
The global toys and games market is poised for dynamic growth as favourable demographics in emerging markets, along with a tent pole movie release schedule, are expected to support a 4.5 percent compound annual growth rate (CAGR) through 2020.
To learn more, visit: http://www.euromonitor.com/toys-and-games.
About Euromonitor International
Euromonitor International is the world’s leading provider for global business intelligence and strategic market analysis. We have more than 40 years of experience publishing international market reports, business reference books and online databases on consumer markets.