Portland, OR, March 18, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global family entertainment centers market generated $18.90 billion in 2017, and is expected to reach $40.81 billion by 2025, witnessing a CAGR of 10.2% from 2018 to 2025. The report provides an extensive analysis of changing market dynamics, top segments, key investment pockets, value chain, and competitive scenario.
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According to Rachita Rake, the Research Analyst for ICT at Allied Market Research, “The location-based entertainment centers (LBECs) segment is expected to grow at the highest CAGR during the forecast period as FEC operators are increasingly integrating virtual reality (VR) into location-based entertainment (LBE) centers to gain the competitive edge over the competitors and seek content and experiences which distinguish LBE VR from the growing adoption of in-home systems.”
Rise in per capita disposable income, presence of different options regarding gaming and entertainment, increase in preference for indoor entertainment, and supportive youth demographics in Asia-Pacific drive the growth of the global family entertainment centers market. However, high initial cost, home gaming and mobile devices, and rise in ticket prices hinder the market growth.
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Covid-19 Scenario:
- Owing to lockdown imposed by governments of many countries, the family entertainment centers were closed to avoid gathering of people and curb the spread of coronavirus. This affected the revenue considerably during 2020.
- The investment plans for new centers and facilities have been postponed by investors due to economic uncertainty occurred with the pandemic.
- Though some of the centers begin during the post-lockdown, there has been scarcity of workers for maintenance and installation of new applications. However, the footfall toward these centers is expected to increase steadily.
The report offers detailed segmentation of the global family entertainment centers market based on visitor demographics, facility size, revenue source, application, type, and region.
By application, the arcade studios segment held the largest market share in 2017, and is expected to maintain its dominant share during the forecast period. However, AR and VR gaming zones would witness the highest CAGR throughout the forecast period.
By facility size, the 1 to 10 acres segment held the highest share in terms of revenue in 2017, and will maintain its lead position by 2025. Based on attendance, the 50,001-100,000 segment accounted for the highest share in 2017.
Based on revenue source, the entry fees & ticket sales segment accounted for the highest share of the global family/indoor entertainment centers market in 2017, and is estimated to maintain its lead status during the forecast period. However, the food & beverage segment is projected to manifest highest growth rate by 2025.
By type, the children’s entertainment centers (CECs) segment accounted for the highest revenue in 2017, and will maintain its leadership status by 2027. Based on region, Asia-Pacific is expected to maintain its largest growth rate throughout the forecast period.
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Leading players of the global family entertainment centers market analyzed in the research include Dave & Busters, CEC Entertainment, Inc., Cinergy Entertainment, KidZania, Scene 75 Entertainment Centers, The Walt Disney Company, Lucky Strike Entertainment, FunCity, Smaaash Entertainment Pvt. Ltd., and LEGOLAND Discovery Center.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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