Location-Based Entertainment Market Size, Share, Growth Analysis, By Venue(Amusement & Theme Parks, Sports Venue, Game Arcades, and Others), By Type(Performance Audio and General Audio), By Application(Indoor and Outdoor), By Region - Industry Forecast 2024-2031

From 2021 to 2028, Asia Pacific is expected to have the fastest CAGR, at about 35.0%. People in the Asia Pacific region are starting to favor outdoor recreational activities above other forms of entertainment. Additionally, the presence of numerous international VR software and hardware suppliers in the Asia Pacific is encouraging the development of the local market. It is also expected that the growing number of VR game players in China will help the regional market expand. The governments in these regions are promoting the implementation of LBE technology at popular tourist destinations to promote foot traffic, therefore it is projected that the regional markets in the Middle East, Africa, and South America will also experience significant growth over the forecast period.

For instance, the Dubai Mall offers its customers location-based services. A few theatres are implementing VR-based LBE as well to improve the immersive experience for patrons. Due to increasing consumer knowledge of new technologies, the popularity of LBE, and the following quick uptake of location-based VR, North America accounted for the greatest revenue share of over 35.0% in 2021 and is predicted to expand significantly during the forecast period. In addition, North America is home to several significant market players. The successful integration of location-based VR into a variety of media, entertainment, and gaming applications is also encouraging for the development of the local market. In Europe, the demand for VR-based LBE is growing in tandem with young people's continuous preference for theme parks, entertainment centers, and 4D movies. To collect evaluations and feedback directly from customers, several location-based VR companies have adopted cutting-edge customer service tools, including social media platforms and chatbots.