Foosball Table Market Size will Grow by 5.2% CAGR through 2019 to 2027
Posted by faisal on October 11th, 2019
The foosball table market remains a highly-consolidated landscape, with leading players consolidating their position across developed economies. Foosball table manufacturing giants remain highly focused on revenue generation from specific end-user clusters, such as restaurants & cafés, sports clubs & events, bars & clubs, and recreation centers. However, unorganized structure of the foosball market at the bottom continues, with multiple local players competing to retain their occupancy in the respective regions.
In order to capitalize on growing popularity of foosball, the manufacturing companies are ameliorating their production capacities and venturing into strategic collaborations to achieve their business goals. Furthermore, foosball table companies are introducing new products with incremental improvement over the previous versions with additional features to offer new value to customers.
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Smart Foosball Tables Gain Popularity with Emphasis on Enhanced Functionalities
Technology, as an ever-evolving enabler, has immensely increased productivity, since the ability of computer systems to perform complex tasks remains unmatched. Similarly, technology has also empowered reformations in the arena of sports equipment vis-à-vis efficiency and performance, including foosball table. Penetration of technologies, such as Artificial Intelligence and IOT, are beginning to make inroads in manufacturing framework of foosball tables alongside surging demand for smarter products.
Brands offering smart foosball tables are introducing a feature of personalized tweets, wherein the companies will make tweets for encouraging players via their own official accounts. This, in turn, works in favor of brand recognition and also facilitates large-scale user engagement. Technology-enabled or smart foosball tables host responsive apps that offer display of scores and leaderboard in real-time, which helps the players to make last-minute changes in their respective strategies. Valuable additions, such as audio cheering sections and overhead high-speed camera, are being introduced in foosball tables to take performance and efficiency attributes a notch higher.
Foosball has been long famed and celebrated as traditional table soccer, on account of its analogy with the original sport of football. Soccer enthusiasts across regions such as Europe are resorting to foosball tables for great experiences and added convenience. This, in turn, is creating sustained opportunities for manufacturers of foosball tables to introduce distinguishable offerings and enhance their net profit.
While sales of foosball tables continue to witness exponential growth in developed economies, the adoption is at a nascent stage in emerging economies. Rising cognizance of foosball as a fun indoor activity in developing regions is gaining considerable momentum. Foosball table companies are eyeing niche opportunities across the emerging regions and are investing in aggressive marketing strategies to enhance their geographical reach. In addition, foosball table manufacturers are also adding intricate details into their products, including vintage designs and attractive embellishments for the foosball fanatics, who seek beyond monotonous patterns.
High preference for wooden foosball table remains a palpable trend in the foosball table market. High durability with high versatility are among the key attributes demonstrating high demand for wooden foosball tables over the forecast period. Moreover, wooden foosball tables also offer a greater degree of sturdiness and scope to accommodate aesthetic features, which further enhances its visibility over other foosball table types. Plastic foosball table trails the former and is likely to gain steady popularity among foosball enthusiasts, owing to burgeoning use of plastics in the indoor sport equipment landscape.
As per Fact.MR analysis, end-users continue to show marked preferences for regular-sized (56”) foosball tables, with global sales estimated to cross 119 thousand units in 2019. Regular-sized foosball tables, align well with end-users’ space considerations and fit easily into residential spaces, making them an ideal investment among majority of the foosball players.
North America, spearheaded by healthy demand in the US, retains its hegemony in the foosball tables market. Furthermore, strong sales of foosball tables in North America can also be attributed to large-scale presence of leading manufacturers in the region. Furthermore, the lucrativeness of North America can also be accredited to the surging fad for foosball as a popular indoor sport in the US.
Emerging economies offer great investment-making avenues for manufacturers of foosball tables to consider, finds Fact.MR. Foosball is in vogue across emerging countries as a fun indoor sport, encouraging manufacturers of foosball tables for a production ramp-up. As per the report, brands are forging ahead with rigorous advertising and marketing campaigns in developing regions for tapping into new customer segments and setting themselves apart from their competitors. Sensing the aesthetic requirements of foosball fanatics, manufacturers are adding vintage designs and attractive embellishments for enhancing visual appeal of the foosball tables.
Technology is enabling drastic and evident transformations across multiple areas, including indoor and outdoor sport equipment. Alongside increasing demand for smart accessories with enhanced functionalities, manufacturers of foosball tables are incorporating technologies, such as Artificial Intelligence (AI) and IOT, to ameliorate performance and speed attributes. Moreover, foosball table companies are also introducing additions, such as sensors and over-head cameras, to create significant value for the customers. Moreover, foosball table companies remain focused on staying cost-competitive with economical products along with active customer support, which includes expert advices and extended warranties, for boosting customer confidence.
About the Authorfaisal
Joined: October 9th, 2019
Articles Posted: 1,546
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