Portland, OR, April 19, 2021 (GLOBE NEWSWIRE) -- Allied Market Research recently published a report, “MENA Family/Indoor Entertainment Centers Market by Visitor Demographic (Families with Children (0–9), Families with Children (9–12), Teenagers (13–19), Young Adults (20–25), and Adults (Ages 25+)), Facility Size (Up to 5,000 sq. ft., 5,001–10,000 sq. ft., 10,001–20,000 sq. ft., 20,001–40,000 sq. ft., 1–10 Acre, 11–30 Acre, Over 30 Acre), Revenue Source (Entry Fees & Ticket Sales, Food & Beverages, Merchandising, Advertisement, and Others), Application (Arcade Studios, AR & VR gaming Zones, Physical Play Activities, Skill/Competition Games, Others), and Type (Children's Entertainment Centers (CECs), Children’s Edutainment Centers (CEDCs), Adult Entertainment Centers (AECs), and Location-based Entertainment Centers (LBECs)): Opportunity Analysis and Industry Forecast, 2020–2027”. According to the report published by Allied Market Research, the MENA family/indoor entertainment centers market garnered $618.65 million in 2019, and is estimated to reach $1.68 billion by 2027, registering a CAGR of 13.3% from 2020 to 2027.
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Key determinants of the FEC market in Middle East and North Africa:
Unveiling of new FECs that support family activities and participatory play, increase in number of malls, and execution of various promotional activities and offers such as loyalty programs propel the growth of the MENA family/indoor entertainment centers market. Nevertheless, rise in prominence of home & mobile gaming and increase in ticket prices restrain the market growth. Moreover, innovation in technology and preferences for FECs for the celebration of occasions offer new opportunities in the near future.
Impact of Covid-19 Pandemic on Indoor Entertainment Centers Market in Middle East and North America Scenario:
- Due to Covid-19 outbreak, entertainment centers and malls have been instructed to be closed, in order to contain the spread of coronavirus.
- The key market players have kept their investment plans for new projects on hold. Also, the development of new technologies have been curbed due to economic crisis.
Get detailed COVID-19 impact analysis on the Mena Family/indoor Entertainment Centers Market: https://www.alliedmarketresearch.com/request-for-customization/6678?reqfor=covid
The teenagers (13-19) segment to dominate the market in 2019-
Based on visitor demographic, the teenagers (13-19) segment contributed to nearly two-fifths of the MENA family/indoor entertainment centers market in 2019, and is anticipated to maintain its lead position in terms of revenue during the forecast period. Upsurge in popularity of arcade games and amusement parks among teenagers and advancements in entertainment experiences drive the growth of the segment. Nevertheless, the families with children (9-12) segment would portray the largest CAGR of 16.3% from 2020 to 2027. The families with children of age between 9 to 12 years are more focused on shaping their children’s future through fun, entertainment, and education. Thus, most of the parents prefer fun learning and adventure-focused games which drives the growth of the segment.
The arcade studios segment held lion’s share in 2019-
Based on applications, the arcade studios segment accounted for the highest market share with nearly one-third of the MENA family/indoor entertainment centers market revenue in 2019, and is expected to continue its dominance throughout the forecast period. Arcade games are an essential component of a well-developed family entertainment center business. These games can create a strong draw and earnings for fun center operators, which drives the segment. On the other hand, the AR & VR gaming zones segment would grow at the highest CAGR of 16.8% during the forecast period. Owing to their realistic and engaging experiences for young children and adults with AR/VR gaming zones.
United Arab Emirates would rule the roost throughout 2027-
Based on country, United Arab Emirates held the largest share with more than one-fourth of the MENA family/indoor entertainment centers market share in 2019, and is estimated to maintain its largest contribution by 2027. However, Egypt is anticipated to portray the largest CAGR of 19.2% from 2020 to 2027. As the Government of Egypt has taken tremendous efforts in the recent years to provide solutions for problems related to foreign investments, and investors. In addition, the government is now prominently seeking new projects in the country. These factors drive the market growth in this region.
Leading market players:
- Dave & Buster’s, Kidzania
- CEC Entertainment, Inc.
- SMAAASH Entertainment Pvt. Ltd.
- Funcity
- CAVU Designwerks Inc.
- Legoland
- Landmark Group
- Majid Al Futtaim Company (Magic Planet)
- Adventureland
Official Press Release: https://www.alliedmarketresearch.com/press-release/middle-east-north-africa-family-indoor-entertainment-centers-market.html
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