The Family/Indoor Entertainment Centers Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Family/Indoor Entertainment Centers Global Market Report 2024, The family/indoor entertainment centers market size has grown rapidly in recent years. It will grow from $28.32 billion in 2023 to $32.55 billion in 2024 at a compound annual growth rate (CAGR) of 15.0%. The growth in the historic period can be attributed to changing leisure preferences, weather-independent activities, urbanization, rise of nuclear families, diverse entertainment offerings, busy lifestyles.
The family/indoor entertainment centers market size is expected to see rapid growth in the next few years. It will grow to $55.49 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%. The growth in the forecast period can be attributed to membership and loyalty programs, cultural events and festivals, accessibility and inclusivity, community engagement initiatives, family-centric dining experiences. Major trends in the forecast period include virtual and augmented reality experiences, hybrid entertainment concepts, e-sports and gaming lounges, customized and themed birthday party packages, digital ticketing and reservation systems.
The growing inclination of the young population towards mobile gaming is expected to propel the growth of the family or indoor entertainment centers market. Mobile gaming refers to the games that are played on a portable device with easy access. Family indoor entertainment centers offer mobile games with the best options for the younger people, as a result, the growing inclination toward mobile gaming increases the demand for family or indoor entertainment centers market. For instance, in March 2021, according to The Journal of Pediatrics, a US-based journal report, children and youth are spending most of their time playing mobile games that is of an average of 20 hours per week and approximately 50% of the global gaming is of mobile gaming. Therefore, the growing inclination of the young population towards mobile gaming is expected to boost demand for the growth of the family or indoor entertainment centers during the forecast period.
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The family/indoor entertainment centers market covered in this report is segmented –
1) By Activity area: Arcade Studios, AR and VR Gaming Zones, Physical Play Activities, Skill/Competition Games, Other Activity Areas
2) By Facility Size: Up to 5,000 sq ft, 5,001 to 10,000 sq ft, 10,001 to 20,000 sq ft, 20,001 to 40,000 sq ft, 1 to 10 Acres, 10 to 30 Acres, Over 30 Acres
3) By Revenue Source: Entry Fees and Ticket Sales, Food and Beverages, Merchandising, Advertisement, Other Sources
4) By Visitor: Families with Children (0-8), Families with Children (9-12), Teenagers (13-19), Young adults (20-25), Adults (Ages 25+)
Major companies operating in the family or indoor entertainment centers (FEC) market are adopting a strategic partnership approach to add new attractions and experiences in Branson and beyond. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in June 2021, The Track Family Fun Parks, a US-based family-friendly entertainment center, partnered with Fruition Partners, a US-based private investment firm. This partnership anticipates Fruition Partners harnessing The Track’s model and collaborating with or acquiring other robust FEC operators, emphasizing the southern and southeastern United States. For Track Family Fun Parks, in conjunction with Fruition, there is a strategic plan to enhance existing staff and properties. Simultaneously, they aim to introduce new attractions and experiences, not only in Branson but also extending their footprint beyond.
The family/indoor entertainment centers market report table of contents includes:
1. Executive Summary
2. Family/Indoor Entertainment Centers Market Characteristics
3. Family/Indoor Entertainment Centers Market Trends And Strategies
4. Family/Indoor Entertainment Centers Market – Macro Economic Scenario
5. Global Family/Indoor Entertainment Centers Market Size and Growth
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26. South America Family/Indoor Entertainment Centers Market
27. Brazil Family/Indoor Entertainment Centers Market
28. Middle East Family/Indoor Entertainment Centers Market
29. Africa Family/Indoor Entertainment Centers Market
30. Family/Indoor Entertainment Centers Market Competitive Landscape And Company Profiles
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