PUBLISHER: SkyQuest | PRODUCT CODE: 1478093
PUBLISHER: SkyQuest | PRODUCT CODE: 1478093
Global Family/Indoor Entertainment Centers Market size was valued at USD 41 billion in 2022 and is poised to grow from USD 46 billion in 2023 to USD 115.54 billion by 2031, growing at a CAGR of 12.2% during the forecast period (2024-2031).
The family/indoor entertainment sector is a subset of the larger, globally growing leisure and entertainment industry. Family/indoor entertainment centers serve the needs of single people, groups of friends, and families seeking indoor activities and entertainment. These options include laser tag, mini-golf, trampoline parks, arcade games, bowling alleys, and more. Additionally, the popularity of convenient locations for family-friendly activities in urban areas is growing, as are consumer preferences. The market expansion of family/indoor entertainment centers is being driven by a lack of outdoor entertainment options. Additional drivers propelling market expansion include the integration of cutting-edge virtual reality entertainment centers to improve the overall visitor experience and the increasing disposable income of individuals.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Family/Indoor Entertainment Centers Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the Market size includes the following details: The key players in the Market were identified through secondary research, and their Market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top Market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Family/Indoor Entertainment Centers Market Segmental Analysis
The global family/indoor entertainment centers market is segmented on the basis of Revenue Source, Application, Type, and region. In terms of revenue source, the market is segmented into Entry Fees & Ticket Sales, Food & Beverages, Merchandising, Advertisement, and Others. Based on application, the market is bifurcated into arcade studios, AR and VR gaming zones, physical play activities, skill/competition games, and others. On the basis of type, the market is divided into Children's Entertainment Centers (CECs), Children's Edutainment Centers (CEDCs), Adult Entertainment Centers (AECs), and Location-based VR Entertainment Centers (LBECs). In terms of region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Drivers of the Global Family/Indoor Entertainment Centers Market
Over the next few years, it is anticipated that the expansion of the family and indoor entertainment centers market would be aided by rising global disposable income and consumers' propensity to spend on leisure activities. People who have more money to spend are more likely to take their friends and family to family/indoor entertainment centers.
Restraints in the Global Family/Indoor Entertainment Centers Market
The growing number of individuals visiting family/indoor entertainment centers has led to increased competition in the market for these types of establishments in recent years. As more and more entertainment venues come up throughout the globe, competition is fierce because customers prefer less expensive options, which damages some businesses' bottom lines.
Market Trends of the Global Family/Indoor Entertainment Centers Market
With AR and VR, two relatively new technologies, the boundaries between the physical and digital worlds have become even more hazy. Future market participants could expect new revenue streams due to the growing availability of AR and VR experiences in family-friendly indoor entertainment venues and the rising willingness of consumers to pay for them.