North America Family Entertainment Centers Market Application Security to Grow at 9.4% of CAGR During 2021 to 2030
The North America family entertainment centers industry has been largely affected due to the outbreak of the COVID-19 pandemic.
PORTLAND , PORTLAND, OR, UNITED STATE, August 10, 2022 /EINPresswire.com/ — Rise in youth demographics, increase in number of malls, and continual launch of FECs drive the growth of the North America family entertainment centers market. On the other hand, increase in ticket prices and rise in popularity of home & mobile gaming restrain the growth to some extent. However, surge in investments in new games and attractions is expected to create lucrative opportunities in the industry.
According to the report, the North America family entertainment centers industry was estimated at $9.16 billion in 2020, and is anticipated to hit $22.18 billion by 2030, registering a CAGR of 9.4% from 2021 to 2030.
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Covid-19 scenario
• Almost 90–92% of destinations such as amusement park and arcades across North America were under complete ban on dining at their restaurants. This, in turn, impacted the North America family entertainment centers market.
• Also, policies such as stay-at-home led to sharp decline in revenue of FECs in North America.
Based on revenue source, the entry fees & ticket sales segment accounted for more than one-third of the North America family entertainment centers market share in 2020, and is expected to rule the roost by 2030.
This is attributed to the increase in number of innovative attractions such as buy-one-get-one as well as complimentary entries for cinema, carousel, haunted house, cyber world, archery, arcade, snooker center, bowling, splash pool, snow world, and thrill rides provided by FECs. The food & beverages segment, however, is projected to register the fastest CAGR of 10.7% throughout the forecast period.
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Based on application, the arcade studios segment contributed to more than one-fourth of the North America family entertainment centers market revenue in 2020, and is anticipated to dominate throughout the forecast period. This is due to the fact that arcade games are essential components of a well-developed FEC business.
Moreover, they can create a strong following and earnings for the fun center operator. The AR and VR gaming zones segment, on the other hand, would portray the fastest CAGR of 10.8% till 2030. This is because AR & VR gaming zones provide tremendous fun experiences.
Based on geography, the U.S. garnered the major share in 2020, generating more than four-fifths of the North America family entertainment centers industry, due to large-scale integration of new technologies such as 3D technology and VR gaming.
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The region across Canada, simultaneously, would manifest the fastest CAGR of 11.4% from 2021 to 2030. Constant increase in middle-class population and surge in disposable income are the major factors that drive the market growth in Canada.
Key players in the industry:
• Cinergy Entertainment Group
• CEC Entertainment, Inc.
• Disney
• iPlay America
• Main Event Entertainment
• Bowlero
• White Hutchinson Leisure & Learning Group, Inc.
• Scene75 Entertainment Centers
• SeaWorld Entertainment
• Dave & Buster’s, Inc.
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