Location-Based Entertainment Market by Component, Technology, Type, Application/Function, End Use

Description

List of Tables

[187 Pages Report] The Location-Based Entertainment Market size was estimated at USD 4.73 billion in 2023 and expected to reach USD 5.72 billion in 2024, at a CAGR 22.78% to reach USD 19.93 billion by 2030.

Location-based entertainment (LBE) is an arrangement of entertainment that needs physical presence at a specific location, often providing bespoke and immersive experiences that cannot be replicated in the home or through static media. This includes a variety of formats, such as theme parks, arcades, escape rooms, virtual reality (VR) experiences, and augmented reality (AR) interventions, among others. The applications of LBE are broad, ranging from entertainment and education to cultural enrichment and social engagement. Rising preference for arcade studios, amusement parks, and arcade studios as a part of leisure is driving market growth. The rapid expansion of the tourism industry, particularly in popular tourist destinations, is benefiting market growth. Establishing and maintaining LBE venues, such as theme parks or VR arcades, requires substantial upfront investment in infrastructure, technology, equipment, and staff, subsequently hampering the adoption of location-based entertainment solutions. Advances in technology, including virtual reality (VR), augmented reality (AR), and mixed reality (MR), that enable the development of high-quality, interactive, and realistic content are anticipated to increase the demand for LBE solutions. The growing incorporation of innovative technologies, unique themes, interactive elements, and personalized experiences across LBE platforms is expected to provide growth opportunities for the market.

KEY MARKET STATISTICS
Base Year [2023]	USD 4.73 billion
Estimated Year [2024]	USD 5.72 billion
Forecast Year [2030]	USD 19.93 billion
CAGR (%)	22.78%

Regional Insights

In the Americas, there is a noticeable trend towards immersive, engaging experiences such as virtual reality and live-action themes, influenced by high consumer spending on leisure. These nations, with cities including Los Angeles and Orlando, are notable for their vibrant entertainment industries and significant tourist activities. Meanwhile, Canada emphasizes seasonal outdoor activities, adapting its LBE offerings to its diverse climate and integrating family-centered technologies, including VR. The European Union emphasizes regulatory compliance and consumer safety, with a cultural penchant for educational and immersive experiences ranging from escape rooms to historical tours. With the UAE as a central hub, the Middle East rapidly expands its LBS sector through significant investments in large theme parks and cultural attractions to boost tourism. Although still in its early stages, Africa sees a rising demand for diverse entertainment options, particularly in urban areas, including South Africa and Egypt, focusing on mobile entertainment and live events. In the Asia Pacific, China is at the forefront, capitalizing on urban growth and increased incomes, with substantial investments in AR and VR technologies supported by governmental initiatives. Japan offers a unique mix of traditional and modern LBE experiences, focusing on high-quality, detailed entertainment options that drive competitive innovation. On the other hand, India is emerging as a potential LBE market, with its growing middle class and youthful demographics favoring mobile-based and scalable physical entertainment solutions as urbanization and digital integration continue to rise.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Location-Based Entertainment Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Growing consumer inclination toward amusements parks, 3D, and 4D films
- Rapid expansion of the tourism industry worldwide
- High potential for 360-degree content and cloud-merged reality

Market Restraints
- High investment cost and safety issues with location-based entertainment

Market Opportunities
- Growing introduction of integrating advanced technologies to deliver immersive experiences
- Increase in investment to expand amusement parks and gaming industry

Market Challenges
- Technical challenges associated with location-based entertainment

Market Segmentation Analysis
- Type: Burgeoning utilization of the theme parks featuring rides, shows, and other attractions
- Application/Function: Evolving adoption of location-based entertainment (LBE) across the entertainment sector

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Location-Based Entertainment Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Location-Based Entertainment Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

iQIYI Launches Immersive Theater in Macao, a Significant Advancement in Location-Based Entertainment

The Chinese online video platform iQIYI announces the inauguration of its cutting-edge virtual reality (VR) immersive theater in Macao. This initiative is part of iQIYI's broader strategy to diversify entertainment experiences beyond traditional media formats. The VR immersive theater, iSpace, plans to offer a diverse array of premium VR content that promises audiences an unparalleled and immersive viewing experience. This launch underscores iQIYI's commitment to innovation and excellence in digital entertainment with an aim to set a new standard for integrating technology and traditional entertainment, thereby attracting more visitors and augmenting the entertainment landscape in Macao. [Published On: 2024-05-26]

Sandbox VR's Strategic Franchise Partnership with Apparel Group in the Middle East

Sandbox VR, a company that provides location-based virtual reality (VR) experiences, has strategically partnered with Apparel Group to extend its reach into the Middle East market. This initiative marks a significant step in leveraging VR technology to revolutionize the entertainment landscape in this region. By partnering with Apparel Group, which boasts a robust presence in retail and lifestyle sectors across the Middle East, Sandbox VR aims to introduce immersive, hyper-realistic VR experiences tailored to local tastes and preferences. This partnership reflects a growing trend of integrating cutting-edge technology in regional entertainment, enhancing the consumer experience while setting new standards in the industry. [Published On: 2024-05-08]

Hershey Advances into Location-Based Entertainment with New Venture

The Hershey Company is set to broaden its market reach through a new venture in location-based entertainment. This initiative aligns with Hershey's strategic objective to enhance brand engagement and grow its consumer base through innovative experiential platforms. By integrating its product line with entertainment experiences, Hershey intends to create a unique, engaging environment that encourages longer visitor stays and increases consumer interaction with the brand. This move emphasizes the trend of experiential marketing within the retail and entertainment sectors and underscores Hershey's commitment to innovation and customer engagement. [Published On: 2024-03-27]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Location-Based Entertainment Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Location-Based Entertainment Market, highlighting leading vendors and their innovative profiles. These include 4Experience sp. z o.o., AEON Fantasy Co.,Ltd., Barron Games International, CyberGlove Systems LLC, Dreamscape Immersive, Inc., Falcon's Beyond Global, LLC, Fantawild Holdings Inc., Fennec Labs Ltd., Google LLC by Alphabet, Inc., Habo Studio Inc., HQ Software, HTC Corporation, Huawei Technologies Co., Ltd., IMAX Corporation, KABUM S.N.C., Kingsmen Creatives Ltd., Magic Leap Inc., Microsoft Corporation, NBCUniversal Media, LLC, Niantic Inc., Panasonic Holdings Corporation, Samsung Electronics Co. Ltd., Sandbox VR, Inc., Sony Group Corporation, SpringboardVR by Vertigo Studios B.V., Starbreeze AB, Tencent Holdings Ltd., The VOID LLC, Vicon Motion Systems Limited by Oxford Metrics PLC, and Zero Latency Pty Ltd..

Market Segmentation & Coverage

This research report categorizes the Location-Based Entertainment Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
- Hardware
- Services
- Software

Technology
- 5G & Networking
- Augmented Reality
- Mixed Reality
- Virtual Reality

Type
- Arcades
- Escape Rooms
- Family Entertainment Centers
- Theme Parks

Application/Function
- Corporate Training
- Education
- Entertainment
- Tourism

End Use
- Commercial Use
- Consumer Use
- Educational Institutions

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-435D2C369F36

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing consumer inclination toward amusements parks, 3D, and 4D films
  - 5.1.1.2. Rapid expansion of the tourism industry worldwide
  - 5.1.1.3. High potential for 360-degree content and cloud-merged reality
- 5.1.2. Restraints
  - 5.1.2.1. High investment cost and safety issues with location-based entertainment
- 5.1.3. Opportunities
  - 5.1.3.1. Growing introduction of integrating advanced technologies to deliver immersive experiences
  - 5.1.3.2. Increase in investment to expand amusement parks and gaming industry
- 5.1.4. Challenges
  - 5.1.4.1. Technical challenges associated with location-based entertainment
5.2. Market Segmentation Analysis
- 5.2.1. Type: Burgeoning utilization of the theme parks featuring rides, shows, and other attractions
- 5.2.2. Application/Function: Evolving adoption of location-based entertainment (LBE) across the entertainment sector
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Location-Based Entertainment Market, by Component

6.1. Introduction
6.2. Hardware
6.3. Services
6.4. Software

7. Location-Based Entertainment Market, by Technology

7.1. Introduction
7.2. 5G & Networking
7.3. Augmented Reality
7.4. Mixed Reality
7.5. Virtual Reality

8. Location-Based Entertainment Market, by Type

8.1. Introduction
8.2. Arcades
8.3. Escape Rooms
8.4. Family Entertainment Centers
8.5. Theme Parks

9. Location-Based Entertainment Market, by Application/Function

9.1. Introduction
9.2. Corporate Training
9.3. Education
9.4. Entertainment
9.5. Tourism

10. Location-Based Entertainment Market, by End Use

10.1. Introduction
10.2. Commercial Use
10.3. Consumer Use
10.4. Educational Institutions

11. Americas Location-Based Entertainment Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Location-Based Entertainment Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Location-Based Entertainment Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. iQIYI Launches Immersive Theater in Macao, a Significant Advancement in Location-Based Entertainment
- 14.3.2. Sandbox VR's Strategic Franchise Partnership with Apparel Group in the Middle East
- 14.3.3. Hershey Advances into Location-Based Entertainment with New Venture
14.4. Strategy Analysis & Recommendation

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio