Family/Indoor Entertainment Centers Market | Know the Untapped Growth Opportunities to 2030
Increase in number of malls positively impacts the growth of the market.
PORTLAND , PORTLAND, OR, UNITED STATE, July 28, 2022 /EINPresswire.com/ — According to the report, the global family/indoor entertainment centers industry generated $25.14 billion in 2020, and is expected to reach $69.55 billion by 2030, witnessing a CAGR of 10.9% from 2021 to 2030.
Drivers, Restraints, and Opportunities
Favorable youth demographics and continuous launch of new FECs supporting family activities, F&B integration, and participatory play boost the growth of the global family/indoor entertainment centers market.
In addition, increase in number of malls positively impacts the growth of the market. However, increase in ticket prices and rise in popularity of home and mobile gaming hamper the market growth. On the contrary, surge in investments in new games and attractions.
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Covid-19 Scenario
• Owing to lockdown implemented in many countries during the Covid-19 pandemic, many activity centers such as arcade studios, gaming zones, and physical activity centers were closed to curb the spread from cross-contamination. This affected the overall revenue negatively.
• There has been economic instability at destinations such as amusement park, arcades, and others and almost 90–92% of such parks faced a complete ban on dining at their restaurants as well. This, in turn, reduced the overall revenue streams.
• The family/indoor entertainment centers market is expected to recover steadily post-pandemic as government authorities of different countries permit these centers to run with full capacity.
Based on activity area, the arcade studios segment contributed to the highest market share in 2020, accounting for around one-fourth of the global family/indoor entertainment centers market, and is expected to maintain its leadership status by 2030.
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This is attributed to rise in spending by children and young age members on entertainment activities in arcade studios. However, the AR & VR gaming zones segment is estimated to manifest the largest CAGR of 12.3% during the forecast period. This is due to its realistic and engaging experiences for not only children but also adults.
Based on type, the children entertainment centers (CECs) segment held more than one-third of the global family/indoor entertainment centers market in 2020, and is estimated to maintain its dominance in terms of revenue by 2030.
This is attributed to focus toward child/parent interactions along with child play activities and entertainment for children. However, the location-based entertainment centers (LBECs) segment is expected to portray the highest CAGR of 12.8% during the forecast period, owing to integration of virtual reality in LBECs that became an attractive option for curious consumers and VR aficionados.
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Based on region, North America accounted for the highest market share in 2020, holding more than one-third of the total market share of the global family/indoor entertainment centers industry, and is estimated to maintain its lead position throughout the forecast period.
This is due to presence of a large number of players and rise in popularity of adventurous games and sports. However, Asia-Pacific is projected to register the fastest CAGR of 12.1% during the forecast period. This is attributed to rise in number of malls in countries such as India, China, and other developing countries.
Key Benefits For Stakeholders:
• The study provides an in-depth analysis of the global family/indoor entertainment centers market forecast along with current & future trends to explain the imminent investment pockets.
• Information about key drivers, restraints, & opportunities and their impact analysis on global deep learning market trend is provided in the report.
• The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
• The quantitative analysis of the market from 2021 to 2030 is provided to determine the market potential.
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