WASHINGTON, July 21, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Edutainment Market finds that the increasing population and the implementation of Augmented Reality (AR) & Virtual Reality (VR) are expediting market growth. In addition, the growing technological advancements are anticipated to propel the growth of the Edutainment Market during the forecast period. The Global Market revenue was valued at USD 1,427.1 Million in 2021.
The Global Edutainment Market size is forecasted to reach USD 3,441.1 Million by 2028 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 15.8% during the forecast period; states Vantage Market Research, in a report, titled “Edutainment Market Size, Share & Trends Analysis Report by Gaming Type (Interactive, Non-Interactive, Explorative, Hybrid Combination), by Facility Size (5,001 to 10,000 Sq. Ft., 10,001 to 20,000 Sq. Ft., 20,001 to 40,000 Sq. Ft., Above 40,000 Sq. Ft.), by Revenue Source (Entry Fees & Tickets, Food & Beverages, Merchandising, Advertising), by Visitor Demographics (Children (0-12), Teenagers (13-18), Young Adults (19-25), Adults (25+), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Edutainment market is predicted to grow at a CAGR of roughly 15.8% during the forecast period.
- The Edutainment market was estimated to be worth roughly USD 1,427.1 Million in 2021 and is expected to reach USD 3,441.1 Million by 2028; based on primary research.
- On the basis of region, Asia Pacific is projected to dominate the worldwide Edutainment market.
Market Dynamics:
Drivers:
Increasing Population & Implementation of AR & VR to Drive the Market Growth
The increasing population and implementation of Augmented Reality (AR) & Virtual Reality (VR) are anticipated to augment the growth of the Edutainment Market during the forecast period. The number of edutainment facilities around the sector is overgrowing regardless of the quick upward thrust in the worldwide population. Family enjoyment facilities (FECs) are mainly found in Tier-I and Tier-II towns in growing and evolved economies. The ability to spend on enjoyment is better in Tier I towns compared to Tier II and Tier III towns. There is scope for the established order of edutainment facilities in untapped markets in Tier-II and Tier-III towns at decreased prices. Several developers specialize in inventing numerous technologies to enhance gaming in edutainment facilities. They try and create new technologically superior video games by combining AR/VR generation with 3D projection mapping and interactive virtual surfaces. Improved consumer experience in 3D surroundings increases engagement and simplifies education processes. Furthermore, the rising manufacturing of headsets, VR controllers, and different gaming gadgets is also likely to fuel the market's growth in the near future.
Growing Technological Advancements to Stimulate Market Growth
The growing technological advancements are expected to contribute to the growth of the Edutainment Market during the forecast period. Technology has affected almost every economic sector, bringing traditional methods to a newer and more innovative level. Education is another sector that has significantly benefited from the introduction of technology in how it is delivered in various parts of the world. The increasing penetration of internet services and technological advancement in the education sector is attracting much attention. Technology firms have begun working with educational institutions to integrate cutting-edge technologies such as augmented and virtual reality to provide engagement-based learning. In addition, the development of interactive and intelligent classes across educational institutions is also expected to drive market growth in the years to come.
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Segmentation of the Global Edutainment Market:
- Gaming Type
- Interactive
- Non-Interactive
- Explorative
- Hybrid Combinations
- Facility Size
- 5,001 to 10,000 Sq. Ft.
- 10,001 to 20,000 Sq. Ft.
- 20,001 to 40,000 Sq. Ft.
- Above 40,000 Sq. Ft.
- Revenue Source
- Entry Fees & Tickets
- Food & Beverages
- Merchandising
- Advertising
- Other Sources
- Visitor Demographics
- Children (0-12)
- Teenager (13-18)
- Young Adult (19-25)
- Adult (25+)
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/edutainment-market-1719
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the IT industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The Report on Edutainment Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Browse market data Tables and Figures spread through 143 Pages and in-depth TOC on "Edutainment Market Size, Share & Trends Analysis Report by Gaming Type (Interactive, Non-Interactive, Explorative, Hybrid Combination), by Facility Size (5,001 to 10,000 Sq. Ft., 10,001 to 20,000 Sq. Ft., 20,001 to 40,000 Sq. Ft., Above 40,000 Sq. Ft.), by Revenue Source (Entry Fees & Tickets, Food & Beverages, Merchandising, Advertising), by Visitor Demographics (Children (0-12), Teenagers (13-18), Young Adults (19-25), Adults (25+)), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
Regional Analysis:
Asia Pacific to Witness Fastest Growth in the Market
Asia Pacific is expected to grow at the fastest Compound Annual Growth Rate (CAGR) during the forecast period. This is attributable to the rising number of connected and intelligent devices and the increasing population in economies such as China and India. Furthermore, the presence of several edutainment organizations and a very competitive intensity for education in the region is also likely to support the regional growth of the market. Additionally, the introduction of cloud computing technology in the education sector is opening up new opportunities, which are also expected to contribute to the market growth in the region.
List of Prominent Players in Edutainment Market:
- Kidzania
- Legoland Discovery Center
- Kinder city
- Plabo
- Pororo Park
- Curiocity
- Totter’s Otterville
- Mattel Play Town
- Little Explorers
- Kidz Holding S.A.L.
Recent Developments:
March 2022: iLearn announced the launch of a new mobile NFT game app named Eggheads. This will result in disrupting the education sector, gaming sector and pioneering Learn to Earn. Learn aims to use blockchain technology to create an engaging, rewarding, and fun way to learn. Eggheads will be the first program (game) launched on iLearn.
December 2018: The Learning Experience announced the launch of BubblesU, a new subsidiary company that delivers a highly personalized multimedia edutainment universe to assist children and families overcome everyday life anxieties and challenges.
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Edutainment Market?
- How will the Edutainment Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Edutainment Market?
- What is the Edutainment market drivers and restrictions?
- What will be the CAGR and size of the Edutainment Market throughout the forecast period?
This market titled “Edutainment Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered |
|
| Region & Counties Covered |
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| Companies Covered |
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| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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