LONDON, Nov. 16, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Family Or Indoor Entertainment Centers Global Market Report 2023, the global family or indoor entertainment centers market is poised for exceptional growth, with the market size projected to surge from $23.61 billion in 2022 to $26.07 billion in 2023, reflecting a robust compound annual growth rate (CAGR) of 10.4%. Projections suggest sustained growth, reaching $37.27 billion in 2027 at a CAGR of 9.3%.
Growth Potential and Drivers
The family or indoor entertainment centers market is on an upward trajectory, driven by several key factors. The increasing use of social media, growing investments in family entertainment centers, and government support are anticipated to be pivotal drivers for the market. As consumers seek immersive and interactive experiences, the demand for entertainment centers offering a diverse range of activities is expected to soar.
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Market Segmentation and Leading Regions
The global family or indoor entertainment centers market is segmented based on activity area, facility size, revenue source, and visitor profile. Key segments include:
- Activity Area: Arcade Studios, AR and VR Gaming Zones, Physical Play Activities, Skill/Competition Games, Other Activity Areas
- Facility Size: Up to 5,000 sq ft, 5,001 to 10,000 sq ft, 10,001 to 20,000 sq ft, 20,001 to 40,000 sq ft, 1 to 10 Acres, 10 to 30 Acres, Over 30 Acres
- Revenue Source: Entry Fees and Ticket Sales, Food and Beverages, Merchandising, Advertisement, Other Sources
- Visitor: Families with Children (0-8), Families with Children (9-12), Teenagers (13-19), Young Adults (20-25), Adults (Ages 25+)
The arcade studios segment is expected to witness the highest growth potential, gaining $7,843.68 million in global annual sales by 2027.
Companies in the family or indoor entertainment centers market are strategically leveraging augmented reality (AR) and virtual reality (VR) technologies to revolutionize the guest experience. By offering immersive and interactive attractions, businesses can attract a broader audience, enhance overall satisfaction, and drive engagement.
For example, Microgravity in India launched a 12,000-square-foot virtual reality-augmented reality experience center in Gurgaon, Haryana, providing a diverse range of AR/VR games and experiences.
Leading Regions and Market Landscape
North America emerged as the largest region in the family or indoor entertainment centers market in 2022, accounting for 38.4% of the total. It was followed by Asia-Pacific and other regions. The family or indoor entertainment centers market landscape is fairly fragmented, with a multitude of small players contributing to its dynamism. The top ten competitors made up 17.27% of the total market in 2021, showcasing the industry's diversity.
Dave & Buster’s Inc, The Walt Disney Company, and KidZania were among the leading competitors, contributing to the family or indoor entertainment centers market vibrant landscape.
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Strategies for Success in the Market
For players in the family or indoor entertainment centers market, the Global Market Report 2023 offers a comprehensive roadmap for success. Strategies to scale and thrive include:
- Expansion through Strategic Partnerships and Acquisitions: Collaborate with key industry players to expand business capabilities and offerings.
- Capital Expenditure for Renovations and Updates: Invest in renovations, updates, and the addition of new rides to ensure a compelling and competitive entertainment experience.
- Strong Focus on Business Capabilities: Strengthen financial positions, enhance product portfolios, and expand geographical presence through strategic initiatives.
Family Or Indoor Entertainment Centers Global Market Report 2023 by The Business Research Company provides insights on the family or indoor entertainment centers market size, family or indoor entertainment centers market segments, family or indoor entertainment centers market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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