Edutainment Market Size Worth USD 28.04 Billion in 2032 | Emergen Research

Vancouver, Nov. 23, 2023 (GLOBE NEWSWIRE) -- The global edutainment market size was USD 5.76 Billion in 2022 and is expected to register a rapid revenue CAGR of 17.1% during the forecast period. The global edutainment market is experiencing substantial growth, driven by the increasing adoption of edutainment globally and the integration of technology such as Augmented Reality (AR) and Virtual Reality (VR). The market is witnessing a surge in investments from large gaming and educational businesses, reflecting the growing recognition of the educational potential of digital technologies.

Key Drivers:

The infusion of AR and VR technologies is a pivotal factor in the market's revenue growth, as educators acknowledge their potential in enhancing educational, training, and instructional experiences. The COVID-19 pandemic has accelerated the adoption of remote and blended learning approaches, with 75% of U.S. schools operating remotely or through a blended model this school year.

Moreover, the market is benefiting from efforts to enhance the quality of education. Videos, particularly in online learning and development, have proven to be more popular than written documents, offering engaging and integrative learning experiences. Companies like Walmart, UPS, and Boeing have already implemented VR into their staff training programs, showcasing the practical application of these technologies.

Challenges:

However, the market faces challenges such as the high costs associated with design and content development, which may limit academic progress. Additionally, concerns about cyberbullying and scamming are potential restraints to market growth, emphasizing the need for a secure and conducive online learning environment.

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Segmentation Insights:

Edutainment Gaming Types: The global edutainment market is segmented into interactive, non-interactive, explorative, and hybrid combinations. The interactive segment, with activities providing actionable feedback and recommendations, led in revenue share in 2022. Notable examples include ViaggiAR, an interactive coloring book in AR for children, making learning a playful experience.

Visitor Demographics: Children constitute a significant portion of the market's revenue, given the increasing emphasis on learning through play. Advancements in computer-augmented learning have enabled edutainment centers to act as enablers for preschool children, providing freedom to learn through play. The young adult segment is also registering fast growth, with edutainment agencies designing applications for online platforms catering to this tech-savvy demographic.

Revenue Sources: The entry fees and tickets segment dominates the revenue sources, reflecting the rise in family income and increased spending on education and entertainment. This segment varies based on location and attraction type, with cultural and economic factors influencing pricing strategies. Advertising is steadily growing, propelled by the popularity of online advertising and the shift of budgets to online channels.

Regional Highlights:

North America: North America led the global edutainment market in 2022, attributed to the adoption of minimal invasive surgeries, prominent companies, and strategic partnerships. The U.S. market, in particular, witnessed significant growth due to the rising adoption of edutainment and technological advancements in education.

Asia Pacific: The Asia Pacific market is poised for the fastest revenue growth, driven by the increasing adoption of cloud computing in education and the use of smart devices. India, in particular, accounted for the largest revenue share in 2022, reflecting a demand for personalized learning experiences and a shift away from traditional teaching methods.

Europe: Europe is expected to account for a considerable share in the global market, driven by the rising demand for gamified learning materials. The UK, with the largest revenue share in 2022, showcases the region's shift towards online education, with 21% of British adults utilizing some form of online learning.

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Scope of Research

MAJOR COMPANIES and Market Share Analysis

The global edutainment market is fragmented with several large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective edutainment solutions.
Some major players included in the global edutainment market report are:

• Pororo Parks
• Kidzania
• Thw LEGO Group
• Jenzabar, Inc.
• Discovery Education
• Promethean Limited
• Ellucian Company L.P. and its affilates
• The Plabo
• CurioCity
• Kindercity
• Viator, Inc.
• SEGA
• Bungiw, Inc.
• Sony Group Corporation
• King.com
• Edsys Pvt. Ltd.
• Disney
• PopReach Corporation
• Merlin Entertainments
• Gardaland Srl

Strategic Development

• In May 2023, Global Educational Venture (GEV), a leading educational company based in Dubai, joined forces with King's College based in the UK to provide a world- class British education to learners worldwide.
• In January 2022, zSpace announced the launch of new inspire editions to the zSpace Learning Station Family. The launch of ultimate VR/AR learning device handles the computing needs and substantial graphics of Career and Technical Education (CTE) and STEM as well as modeling and simulation, esports, and data visualization.

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Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global edutainment market on the basis of gaming type, facility size, revenue source, visitor demographics, and region:

• Gaming Outlook (Revenue, USD Billion; 2019-2032) 

• • Interactive
  • Non-Interactive
  • Explorative
  • Hybrid Combination

• Facility Size Outlook (Revenue, USD Billion; 2019-2032)

• • 5,000 to 10,000 Square foot
  • 10,001 to 20,000 Square foot
  • 20,001 to 40,000 Square foot
  • Above 40,000 Square foot

• Revenue Source Outlook (Revenue, USD Billion; 2019-2032)

• • Entry fees & tickets
  • Food & Beverage (F&B)
  • Merchandising
  • Advertising

• • Others
• Visitor Demographics Outlook (Revenue, USD Billion; 2019-2032)

• • Children (0-12)
  • Teenager (13-18)
  • Young adult (19-25)
  • Adult (25+)

• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Benelux
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • ASEAN Countries
    • Oceania
    • Rest of APAC
  • Latin America
    • Brazil
    • Mexico
    • Rest of LATAM
  • Middle East & Africa
    • GCC Countries
    • Israel
    • Turkey
    • South Africa
    • Rest of Middle East & Africa

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