The location-based entertainment global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Location-Based Entertainment Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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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Scope Of Location-Based Entertainment Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Location-Based Entertainment Market Overview
Market Drivers –
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.
Market Trends –
Major companies operating in the location-based entertainment market are focused on developing innovative solutions, such as advanced virtual reality technologies, to enhance immersive experiences and attract a wider audience. Virtual reality technology in location-based entertainment creates immersive digital environments that users can interact with in physical spaces, enhancing the overall entertainment experience. For instance, in September 2022, Shanghai Disney Resort, a China-based theme park, opened SoReal VR SuperSpace, an immersive virtual reality (VR) experience in its Disneytown shopping, dining, and entertainment district. This will be Shanghai’s first flagship store. The two-story venue features VR experiences on the first floor and an immersive VR walkthrough on the second. This innovative addition, developed by SoReal, a China-based VR company, enhances visitor engagement and entertainment options within Disneytown.
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
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Regional Insights –
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.
Key Companies –
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
Table of Contents
1. Executive Summary
2. Location-Based Entertainment Market Report Structure
3. Location-Based Entertainment Market Trends And Strategies
4. Location-Based Entertainment Market – Macro Economic Scenario
5. Location-Based Entertainment Market Size And Growth
…..
27. Location-Based Entertainment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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