Location-Based Entertainment Market
Global Location-Based Entertainment Market

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

Report ID: SQSG45F2019 | Region: Global | Published Date: February, 2024
Pages: 276 | Tables: 87 | Figures: 76

Location-Based Entertainment Market News

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Location-Based Entertainment Market size was valued at USD 2.55 billion in 2019 and is poised to grow from USD 3.29 billion in 2023 to USD 35.42 billion by 2031, growing at a CAGR of 28.8% in the forecast period (2024-2031).

Major businesses in these sectors are making investments to improve the infrastructure and quality of location-based VR content. For instance, in September 2021, VRstudios, Inc. unveiled a brand-new foundation called VRstudios Sports. With this effort, users will be able to connect, socialize, and share experiences in a location-based VR environment. With a thorough LBE capability, VRstudios Sports gives its users the possibility to experiment with their VR-based game plays at home. Therefore, this endeavor is anticipated to increase the demand for location-based entertainment on the global market. 'Disney Parks, Experiences, and Products', 'Universal Parks & Resorts', 'Merlin Entertainments', 'Cedar Fair Entertainment Company', 'Six Flags Entertainment Corporation', 'SeaWorld Parks & Entertainment', 'Village Roadshow Theme Parks', 'Parques Reunidos', 'OCT Parks China', 'Fantawild Holdings Inc.', 'The Sandbox', 'VRCade', 'Dave & Buster's Entertainment Inc.', 'Hologate', 'Zero Latency VR', 'Sandbox VR', 'The Void', 'Exit Reality', 'Nomadic', 'Dreamscape Immersive'

Growth is expected to be fueled by the rising demand for immersive video content, video games, and other entertainment offerings, which may eventually lead to the sales of Virtual Reality (VR) headsets.

Family entertainment centers recently made changes to the games available in these facilities. The "triple revolution" of social media, the Internet, and mobile devices—which are digitally upending family entertainment centers—brings about this change and is creating some fierce competition. The most popular games right now are those that use virtual reality (VR) and augmented reality (AR). Some game developers are concentrating on creating various technologies to enhance the gaming environments in entertainment centers.

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.

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Global Location-Based Entertainment Market

Report ID: SQSG45F2019

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