Location-Based Entertainment Market Insights 2024: Key Players and Strategies

Overview and Scope
Location-based entertainment (LBE) refers to a type of entertainment experience that takes place in a specific physical site or venue, such as amusement parks and themed entertainment venues, and frequently employs immersive technologies to enhance the visitor’s engagement and enjoyment. These experiences often incorporate elements of virtual reality (VR), augmented reality (AR), or other immersive technologies to create immersive worlds and storytelling environments.

Sizing and Forecast
The location-based entertainment market size has grown exponentially in recent years. It will grow from $3.05 billion in 2023 to $3.86 billion in 2024 at a compound annual growth rate (CAGR) of 26.4%.  The  growth in the historic period can be attributed to pop culture tie-ins, social media influence, urbanization, family and group activities, and experiential spending trends.

The location-based entertainment market size is expected to see exponential growth in the next few years. It will grow to $9.91 billion in 2028 at a compound annual growth rate (CAGR) of 26.6%.  The growth in the forecast period can be attributed to the integration of artificial intelligence, expansion into emerging markets, sustainability and eco-friendly initiatives, cross-industry collaborations, and shift towards hybrid experiences. Major trends in the forecast period include integration of augmented reality (AR), immersive experiences, adoption of virtual reality (VR), emphasis on interactive attractions, and advancement in technology.

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Segmentation & Regional Insights
The location-based entertainment market covered in this report is segmented –

1) By Offerings: Hardware, Software, Services
2) By Technology: 2 Dimensional (2D), 3 Dimensional (3D), Cloud Merged Reality (CMR)
3) By End-Use: Amusement Parks, Arcade Studios, 4D Films

North America was the largest region in the location-based entertainment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the location-based entertainment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
Increasing consumer spending on games and video content is expected to propel the growth of the location-based entertainment market going forward. Consumer spending on games and video content refers to the amount of money individuals spend on purchasing or subscribing to video games, downloadable content, in-game purchases, streaming services, and other related digital entertainment products. Increasing consumer spending on games and video content reflects growing demand for digital entertainment experiences, immersive gaming experiences, and a shift towards online streaming platforms. Consumer spending on games and video content helps bolster location-based entertainment by showcasing the potential for immersive experiences, driving interest in similar interactive and experiential offerings at physical venues. For instance, in February 2024, according to data published by the Entertainment Software Association, a US-based trade association of the video game industry, total video game sales surged to $57.2 billion in 2023, marking an increase from the $56.6 billion recorded in 2022. The rise was primarily fueled by a boost in video game content spending, which rose to $48.0 billion from $47.5 billion in 2022. Therefore, increasing consumer spending on games and video content is driving the growth of the location-based entertainment market.

Key Industry Players
Major companies operating in the location-based entertainment market are  Google LLC, Samsung Electronics Co. Ltd., Microsoft Corporation, Meta Platforms Inc., Huawei Technologies Co. Ltd., The Walt Disney Company, Panasonic Corporation, Nvidia Corporation, Regal Entertainment Group, Unity Technologies Inc., AEON Fantasy Co. Ltd., Sony Interactive Entertainment LLC, Magic Leap Inc., HTC Corporation, Niantic Inc., Barron Games International LLC, Bob’s Space Racers Inc., HQ Software LLC, Habo Studio Inc., CamOnApp S.A., E-Learning Studios Ltd., SpringboardVR Inc., BidOn Games Studio LLC, VRstudios LLC

The location-based entertainment market report table of contents includes:

1. Executive Summary
2. Location-Based Entertainment Market Characteristics
3. Location-Based Entertainment Market Trends And Strategies
4. Location-Based Entertainment Market – Macro Economic Scenario
5. Global Location-Based Entertainment Market Size and Growth
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31. Global Location-Based Entertainment Market Competitive Benchmarking
32. Global Location-Based Entertainment Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Location-Based Entertainment Market
34. Location-Based Entertainment Market Future Outlook and Potential Analysis
35. Appendix

 

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