Global Indoor Entertainment Center Market Size To Hit USD 42.64 Billion By 2030 | CAGR 9.79%
The Global Indoor Entertainment Center Market Size was valued at USD 22.17 billion in 2021 and the worldwide indoor entertainment center market size is expected to reach USD 42.64 billion by 2030, according to a research report published by Spherical Insights & Consulting. Companies Covered: CEC Entertainment, Inc., Bandai Namco Holdings Inc., Dave and Buster’s Inc, Fun City, Ferrari World, Scene75 Entertainment Centers, The Walt Disney Company, Triotech and Others.
New York, United States , Feb. 01, 2023 (GLOBE NEWSWIRE) — The Global Indoor Entertainment Center Market Size to grow from USD 22.17 billion in 2021 to USD 42.64 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 9.79% during the forecast period. An increase in per capita disposable income, the availability of a wide range of gaming and entertainment options, as well as a rise in teen and early kid interest in family entertainment centres, may all be factors driving the industry. In addition, a range of gaming options for entertainment make it simple to observe large crowds, which in turn stimulates the market growth of indoor entertainment centres.
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An indoor entertainment centre, often known as an indoor amusement park, family amusement centre, family fun centre, or simply fun centre in the entertainment industry, is a small amusement park geared toward families with young children through adolescents that is frequently entirely indoors. They typically cater to the sub-regional markets of smaller urban areas. FECs frequently have fewer attractions than full-scale amusement parks, are less expensive per person per hour than conventional amusement parks, and are sustained by local patrons rather than major tourist attractions. The majority of chains and franchises in the sector are locally owned and operated, despite the fact that there are many of them. The majority of chains and franchises in the sector are locally owned and operated, despite the fact that there are many of them. Some that are operated by non-profit organisations tend to place more of an emphasis on edutainment activities, arcade studios, AR and VR gaming zones, physical play activities, skill/competition games, and other things than merely amusement.
Children’s museums and science museums are a couple such examples. Indoor entertainment centres, sometimes known as FECs, are miniature indoor or outdoor theme parks that offer a variety of family-friendly activities. A handful of the various FECs that have endured for 10 years are bowling alleys, zoos, museums, water parks, and miniature golf courses. The market for indoor entertainment centres worldwide is predicted to expand significantly during the projection period. A rise in per capita disposable income and technological breakthroughs like virtual reality gaming could be factors driving the business. Family entertainment centres are miniature amusement parks designed to entertain the entire family. These centres have a positive effect on the market by using strategies like bonuses, gift cards, and birthday discounts. The continued installation of indoor entertainment centres that promote intergenerational play and family activity may boost market expansion.
Browse 54 market data Tables and 64 Figures spread through 245 Pages and in-depth TOC on “Global Indoor Entertainment Center Market Size, Share, and COVID-19 Impact Analysis, by Processor (ARM, x86, PowerPC), By Application (Industrial Automation, Consumer Electronics, Aerospace & Defense, Automotive & Transportation, Healthcare & Medical Devices, Entertainment, Education, Agriculture), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030”
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AR & VR gaming zones to witness the overall growth rate of 12%.
On the basis of activity, the global indoor entertainment center market is segmented into AR & VR Gaming Zones, Bowling Alleys, Video Game Arcades, Children’s Entertainment & Edutainment Area, Trampoline Parks, Indoor Physical Sports Activities, Adventure Activities, Restaurants & Movie Theaters. Due to the rising steps taken by the government to provide cash and tax benefits to AR & VR projects, the AR & VR gaming zones category is predicted to develop at a rate of 12%.
21 to 25 years age group segment to expand with over 10% CAGR.
On the basis of age group, the global indoor entertainment center market is segmented into Below 12, 13 – 20, 21 – 25, Over 25. Among them, the age group of 21 to 25 years is predicted to grow with a CAGR of more than 10% during the forecast period. The market will develop as more young people with high disposable money participate in the many leisure activities offered by indoor entertainment centres. With the intention of providing a group experience, some indoor entertainment centre businesses provide group activities like team fighting in a large capacity multi-sensory arena.
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Above 10 acres area size is witnessing the surge in demand
Based on area size, the global indoor entertainment center market is segmented into Upto 5,000 Sq. Ft, 5001 – 40000 Sq. Ft, 40000 – 100000 Sq. Ft, 100001 Sq. Ft – 10 Acres, above 10 Acres. The demand for those with more than 10 acres of space will increase as families may engage in a variety of activities thanks to gaming zones specifically designed for different age groups. These indoor entertainment complexes include amusement rides, game areas, dining establishments, and movie theatres that provide a range of services to their patrons. In order to keep up with these activities that are accelerating market expansion, it is actually necessary to instal the machinery and devices on the floor.
North America to register the largest market growth over the forecast period.
The Global Indoor Entertainment Center Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Due to an increasing trend of individuals engaging in sporting activities throughout the holidays and weekends, North America will hold the greatest market share in 2021 with a CAGR of 20%. Many major market players offer games that encourage intense competition among players by having them participate in sports like racing, rafting, and mini golf. The proprietors of the indoor entertainment venues monitor each team’s performance and give winners a range of prizes.
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The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Companies Covered: CEC Entertainment, Inc., Bandai Namco Holdings Inc., Dave and Buster’s Inc, Fun City, Ferrari World, Scene75 Entertainment Centers, The Walt Disney Company, Triotech and Others.
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