Developments in artificial intelligence for family indoor entertainment centers are expected to provide opportunities for the market’s development during the forecast period.
NEW CASTLE, Del., Aug. 27, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “FEC Market By Activity Area (Arcade Studios, AR and VR Gaming Zones, Physical Play Activities, Skill or Competition Games, and Others), Facility Size (Up to 5,000 Sq. Ft., 5,001 to 10,000 Sq. Ft., 10,001 to 20,000 Sq. Ft., 20,001 to 40,000 Sq. Ft., 1 to 10 Acres, 10 to 30 Acres, Over 30 Acres), and Visitor Demographics (Families With Children (0-9), Families With Children (9-12), Teenagers (12-18), Young Adults (18-24), and Adults (Ages 24 and above)), Revenue Source (Entry Fees and Ticket Sales, Food and Beverages, Merchandising, Advertisement, Others), and Type (Childrens Entertainment Centers (CECs), Childrens Edutainment Centers (CEDCs), Adult Entertainment Centers (AECs), and Location-based VR Entertainment Centers (LBECs)): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the family/indoor entertainment centers market was valued at $30.8 billion in 2022 and is estimated to reach $108.4 billion by 2033, growing at a CAGR of 12.1% from 2024 to 2033.
Prime determinants of growth
The global family/indoor entertainment center market is growing due to several factors such as increase in the adoption of smartphones and increase in cloud adoption. However, data security and privacy concerns are restraints for the family indoor entertainment center market.
Request Sample Pages: https://www.alliedmarketresearch.com/request-sample/5142
Report coverage & details:
Report Coverage
Details
Forecast Period
2024–2033
Base Year
2022
Market Size in 2023
$30.8 billion
Market Size in 2032
$108.4 billion
CAGR
12.10 %
No. of Pages in Report
267
Segments Covered
Activity Area, Facility Size, Revenue Source, Type, Visitor Demographics, and Region.
Drivers
Increase in Consumer Spending on Leisure and Entertainment
Technological Advancement
Urbanization and Demographic Shifts
Opportunities
Demand for Family-Oriented Activities
Corporate and Group Events
Restraint
High Operational Costs
Seasonal Variability and Weather Dependency
Buy this Complete Report (267 Pages PDF with Insights, Charts, Tables, and Figures) at:
https://www.alliedmarketresearch.com/family-entertainment-centers-market/purchase-options
The AR and VR Gaming Zones segment is expected to witness rapid growth throughout the forecast period
By activity area, the physical play activities segment accounted for more than one-fourth of the global family/indoor entertainment center market share in 2022 and is projected to maintain its lead position during the forecast period, owing to traditional activities such as climbing walls, ball pits, and obstacle courses being very popular with families and children, offering hands-on fun that appeals to a wide range of ages. These activities are well-established and continue to attract many visitors. However, the AR and VR Gaming Zones segment is expected to attain the largest CAGR of 15.3% from 2024 to 2033 and is projected to maintain its lead position during the forecast period, owing to its innovative and immersive experiences. As technology advances, these high-tech gaming zones provide exciting, interactive experiences that are increasingly popular, driving rapid growth as more people seek out cutting-edge entertainment options, which drives the segment growth in the market.
The 10,001 to 20,000 Sq. Ft. segment is expected to witness rapid growth throughout the forecast period
By facility size, the 1 to 10 Acres segment accounted for more than one-fourth of the global market share in 2022 and is projected to maintain its lead position during the forecast period, owing to these facilities offering ample space for a variety of attractions and activities, such as play zones, dining areas, and party rooms, making them popular for families looking for a comprehensive entertainment experience. This size range is ideal for creating a wide range of attractions while still being manageable and affordable for operators. However, the 10,001 to 20,000 Sq. Ft. segment is expected to attain the largest CAGR of 15.7% from 2024 to 2033 and is projected to maintain its lead position during the forecast period, as these facilities are large enough to offer diverse entertainment options but smaller and more cost-effective than larger acre-sized centers. As operators and consumers seek more efficient and innovative use of space, this size range becomes increasingly attractive for new developments and expansions, which drives the segment growth in the family/indoor entertainment center market.
The families with children (9-12) segment is expected to witness rapid growth throughout the forecast period
By visitor demographics, the teenagers (12-18) segment held the highest market share in 2023 and is projected to maintain its lead position during the forecast period, owing to these centers offering activities and attractions that are particularly appealing to this age group, such as advanced gaming zones, challenging obstacle courses, and social spaces. Teenagers are often looking for exciting and engaging experiences, which drives their frequent visits and contributes to this segment’s strong market presence. However, the families with children (9-12) segment is expected to attain the largest CAGR of 14.5% from 2024 to 2033 and is projected to maintain its lead position during the forecast period, owing to a rising focus on providing family-friendly environments that cater to younger children. This age group is particularly valuable as parents look for safe and fun places where their children can play and engage in activities. As the demand for age-appropriate and interactive experiences for kids in this range increases, more centers are tailoring their offerings to attract and retain this growing demographic, which drives the segment growth in the market.
The food and beverages segment is expected to witness rapid growth throughout the forecast period
By revenue source, the entry fees and ticket sales segment accounted for more than one-third of the global FEC market share in 2023 and is projected to maintain its lead position during the forecast period, owing to these centers primarily generating revenue through admission fees. This model is straightforward and remains a steady source of income, as families pay to access the various attractions and activities available. However, the food and beverages segment is expected to attain the largest CAGR of 14.2% from 2024 to 2033 and is projected to maintain its lead position during the forecast period, owing to increasing focus on enhancing the overall visitor experience by offering a variety of dining options. As families spend more time at these centers, they seek convenient and enjoyable food and drink options, leading to a rise in spending on concessions. This shift towards improved food and beverage services is driving rapid growth in this revenue segment, which drives the segment growth in the market.
The Children’s Entertainment Centers (CECs) segment is expected to witness rapid growth throughout the forecast period
By type, the Children’s Entertainment Centers (CECs) segment accounted for more than one-third of the global market share in 2022 and is expected to rule the boost by 2033 and is projected to maintain its lead position during the forecast period, owing to a wide range of popular activities such as play zones, games, and interactive experiences that attract large numbers of families. This focus on entertainment for kids drives substantial and consistent visitor traffic. However, the Location-based VR Entertainment Centers (LBECs) segment is expected to attain the largest CAGR of 15.7% from 2024 to 2033 and is projected to maintain its lead position during the forecast period, owing to the increasing popularity and advancements in virtual reality technology. These centers offer immersive and cutting-edge experiences that are becoming highly sought after, especially as technology evolves and more people seek innovative and engaging forms of entertainment, which drives the segment growth in the FEC market.
North America to maintain its dominance by 2033
By region, North America held the highest market share in terms of revenue accounting for more than one-fourth of the global market share in 202 3and is expected to dominate by 2033 owing to its well-established infrastructure and high demand for diverse and advanced entertainment options. The region has numerous large and popular centers that cater to families. However, the office suite segment is expected to attain the largest CAGR of 14.5% from 2024 to 2033 and is projected to maintain its lead position during the forecast period, owing to rapid urbanization, increase in disposable incomes, and rise in the middle class in countries such as China and India. As more families in this region seek new and innovative entertainment experiences, the market for family/indoor entertainment centers is expanding quickly, which drives the growth in the FEC market.
Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/5142
Major Industry Players: –
CEC Entertainment Concepts, LP.Cinergy Entertainment GroupLandmark Leisure LLC (Fun City)FunridersKidZaniaDave and Buster’s, Inc.Lucky Strike EntertainmentScene75 Entertainment CentersSmaaashTimezone Global
The report provides a detailed analysis of these key players in the global family indoor entertainment center market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of family/indoor entertainment center market players to showcase the competitive scenario.
AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/familyindoor-entertainment-centers-market-to-reach-108-4-billion-globally-by-2033-at-12-1-cagr-allied-market-research-302231192.html
Technology4 days ago
Technology4 days ago
Technology5 days ago
Technology4 days ago
Coin Market4 days ago
Technology5 days ago
Coin Market4 days ago
Technology4 days ago