Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Family Or Indoor Entertainment Centers Global Market Opportunities and Strategies to 2032" report has been added to ResearchAndMarkets.com's offering.
The latest comprehensive research on the global Family or Indoor Entertainment Centers Market unveils significant growth prospects and strategic focus areas for stakeholders in the sector. The detailed report, now available for public consumption, provides a thorough analysis of the industry's evolution from 2017 and extends forecasts up to 2032.
Unprecedented Growth and Emerging Trends
As identified in the analysis, the sector has witnessed a substantial Compound Annual Growth Rate (CAGR) of 7.11% from 2017 to 2022, soaring to a market value of approximately $24.63 billion in 2022. The projected growth is even more promising, forecasting an increase to $45.03 billion by 2027 at a robust rate of 12.82% CAGR. The momentum is anticipated to continue, with expectations to reach a striking $92.90 billion in 2032, surging at a CAGR of 15.59% from 2027.
Dynamics such as the rising young population's inclination towards mobile gaming, growing disposable incomes, and emerging market expansion have historically fueled market growth. In the future, factors set to propel market expansion include the intensifying use of social media for engagement, surging investments in family entertainment centers, and substantial government backing.
Segmentation Insights
Segment-wise, arcade studios have asserted dominance as a key market segment, while AR and VR gaming zones are predicted to be the fastest-growing segment, with an expected CAGR of 14.97% between 2022-2027. Moreover, the market analysis shows variations in the facility sizes, with >40,000 sq ft facilities holding the largest market share, and the 10,001 to 20,000 sq ft bracket set to grow swiftly at a 13.61% CAGR during the same period.
The sector's revenue streams are also scrutinized, revealing entry fees and ticket sales as the largest revenue contributors. However, the food and beverages component is set to outpace others as the fastest-growing revenue source at 15.6% CAGR from 2022-2027.
As for demographics, teenagers (aged 13-19) form the largest customer segment, a trend that is likely to enhance further to become the fastest-growing customer base with a CAGR of 14.5% in the period leading up to 2027.
Geographic and Competitive Landscape
In the geographic analysis, North America stands out as the market leader, claiming 38.4% of the global market share in 2022. Asia-Pacific and North America are projected as the fastest-growing regions, with exceptional CAGRs of 17.2% and 12.2% respectively, followed by Western Europe and South America.
The competitive scenario presents a fragmented marketplace, where the top ten entities accounted for merely a 17.27% market share in 2021. The space is primed for strategic partnerships, with an emphasis on innovation through AR and VR, and the integration of the Internet of Things (IoT) to enhance operational efficiency.
Future Strategy Recommendations
The report suggests a range of strategies for market players to harness the growth opportunities effectively. These include opening new centers with unique amenities, embracing AR and VR for interactive attractions, geographic expansion, IoT utilization for efficiency, partnerships, market consolidation in developing economies, competitive pricing, and a strong focus on online marketing and visitor engagement.
Within the report's strategic outlook, it highlights crucial planes of action such as launching distinctive facilities and utilizing innovative technologies to revolutionize the guest experience.
The analysis serves as a vital tool for industry stakeholders looking to understand market dynamics, capitalize on emerging trends, and secure a competitive edge in the burgeoning Family or Indoor Entertainment Centers sector.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 388 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $24.6 Billion |
| Forecasted Market Value (USD) by 2031 | $92.9 Billion |
| Compound Annual Growth Rate | 14.2% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
- Dave & Buster’s Inc.
- The Walt Disney Company
- KidZaniaBowlero Corporation
- Legoland Discovery Centre (Merlin Entertainments)
- Bandai Namco Entertainment
- Landmark Leisure LLC
- Scene75 Entertainment Centers
- Lucky Strike Entertainment LLC
- Tenpin Ltd. (Ten Entertainment Group)
- Max-Matching Entertainments
- Four Seasons Indoor Play Centre Pty Ltd
- The Entertainment & Education Group (TEEG)
- Funriders Leisure & Amusement Pvt. Ltd
- Smaaash
- Shanghai Shendi Group
- Chimelong Group
- Cheer Amusement (Nanjing) Co., Ltd
- Vasia Children Amusement Park
- Merlin Entertainments Limited
- Sayers Amusements
- Ferrari World
- Fun Farm Lincoln Family Entertainment Centre
- Fun Space
- Parque Warner Madrid
- Tibidabo Amusement Park
- NBC Universal
- Patriot Theme Parks
- Park Rozrywki Mandoria
- Plopsa
- Fun Arena
- The Factory
- MARKED
- Cinergy Entertainment Group
- CEC Entertainment Inc
- Dave & Buster’s Inc
- Bowlmor AMF
- SeaWorld Entertainment Inc
- iPlay America
- Escape 60' Vila Olímpia
- Sitio do Carrocao
- Parque Oschin
- Fun City
- Extreme Fun UAE
- Landmark Leisure
- The Fun Company
- Fun Factory Ikorodu
- M and K Family Entertainment Center
- Magic Planet - City Centre Almaza
For more information about this report visit https://www.researchandmarkets.com/r/xq37c4
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