Location-based Entertainment Market - Global Industry Analysis

Global Location-based Entertainment Market: Overview

Location-based entertainment (LBE) is a term that is been applied to a whole group of entertainments including movie theatres, casinos, water parks, pools, bowling alleys, large scale arcades, theme parks, and many more. LBE is like bringing people together in real life to share experiences. LBE has become the talk of the town and is acclaimed as the future of virtual reality (VR).

Report Scope:

Global Location-based Entertainment Market: Growth Factors

The global location-based entertainment market is growing at a rapid pace. Major factors such as the growing adoption of VR and increase in demand for video games & video content are primarily fueling the growth of the global market. Video gaming is booming at a rapid rate and is becoming a mainstream. It is taking over the world of entertainment and is growing bigger than music & movie theatre combinedly. More and more people play not only for fun & social interaction but also to compete & compare performance & skills. This generates more business and attracts new customers. In addition to this, LBE appeals the new generation and is attracting new generations i.e. Generation Z as well as millennials in large numbers. Also, LBE is likely to produce social spaces in community culture centers and malls in order to offer a true-to-life entertainment experience. All these factors are boosting the growth of the global location-based entertainment market. Moreover, factors such as an increase in investment by the major key players in the technology and strategic initiatives to expand the business are also propelling the overall growth of the market. Furthermore, emerging 360-degree VR technology may generate beneficial opportunities for the growth of the global location-based entertainment market during the forecast period. However, lesser penetration of the technology in the lower and middle-income countries may hamper the growth of the global location-based entertainment market.

The global location-based entertainment market is severely hit by the Covid-19 pandemic. Strict lockdown and stay-at-home orders imposed by the government of most of the cities across the world have led to the shutting down of malls, theaters, amusement & theme parks, and arcades. This majorly affected the market growth. With the current ongoing pandemic condition and occurrence of consecutive waves in some of the countries, strict regulations are imposed and extended for the unforeseen duration. Post-pandemic, the market is expected to witness a slow growth rate owing to restrictions on gathering in public places in large volume.

Global Location-based Entertainment Market: Segmentation

The global location-based entertainment market is divided based on component, technology, and end-use. Based on the component, the global location-based entertainment market is bifurcated into software and hardware. The technology segment comprises Cloud Merged Reality (CMR), 3 Dimensional (3D), and 2 Dimensional (2D). Based on the end-user, the global market is split into amusement parks, 4D films, and arcade studios.

Global Location-based Entertainment Market: Regional Analysis

Geographically, North America is anticipated to hold a major share and dominate the global location-based entertainment market during the forecast period. This is attributed to the growing popularity of LBE among the millennials, the presence of advanced technologies, and the heavy investment of the key players in location-based virtual reality. In addition to this, the growing use of location-based virtual reality in gaming, entertainment as well as media sectors is boosting the growth of the market in North America. The market in the European region is expected to account for a significant share owing to an increase in the deployment of the LBE components owing to growing attraction towards 4D films and amusement parks. Asia Pacific on the other hand is anticipated to grow at a speedy rate and register the highest CAGR value during the forecast period. This is majorly attributed to presence of a major consumer base for VR technology-based games in countries like Japan and China. In addition to this, the strong presence of VR component providers in this region is driving the growth of the market in Asia Pacific region.

Global Location-based Entertainment Market: Competitive Players

The VOID LLC, IMAX Corporation, HTC Corporation, Springboard VR, EXIT Realty Corp. International, Microsoft Corporation, Google LLC, Huawei Technologies Co., Ltd, and VRstudios Inc. are some of the key players that are operating in the global location-based entertainment market.

Global Location-based Entertainment Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.