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Amusement Parks And Arcades Market Report (2018-2022) : Market Size, Growth, Trends and Forecast

09-04-2019 01:37 PM CET | Leisure, Entertainment, Miscellaneous

Press release from: The Business research company

Global Amusement Parks And Arcades Market

Global Amusement Parks And Arcades Market

The global amusement parks and arcades market (https://www.thebusinessresearchcompany.com/report/amusement-parks-and-arcades-market) reached a value of nearly $62.0 billion in 2018, having grown at a compound annual growth rate (CAGR) of 8.3% since 2014 and is expected to grow at a CAGR of 8.8% to nearly $87.2 billion by 2022.

Major Competitors are The Walt Disney Company, Universal Parks And Resorts, Merlin Entertainment Group, Oriental Land Company Ltd, Six Flags Entertainment Corporation

Growth in the historic period resulted from a rise in disposable incomes, companies focusing on reinvesting, increase d travel and tourism, and economic growth. Factors that negatively affected growth in the historic period were harsh weather conditions and rising costs.

Going forward, economic growth in developed nations and increasing use of social media will drive the growth. Factors that could hinder the growth of this market in future include unfavorable demographic changes, a threat from home entertainment and experience fatigue.

The top opportunities in the amusement parks and arcades market will arise in the theme parks segment which will gain $21.1 billion of global annual sales by 2022. The amusement parks and arcades market size will gain the most in the USA at $9.92 billion. Market-trend-based strategies for the amusement parks and arcades market include using IoT technology that improves efficiency and guest experience, introducing cost effective retractable roofs for water parks, and offering platforms to patrons for booking rides or tickets with the help of mobile technologies. Player-adopted strategies in the amusement parks and arcades industry include launching new attractions and entertainments, investing in opening new theme parks, and acquisitions.

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Growth Of The Experience Economy – With increasing disposable incomes, people are looking for unique experiences with personalization to spend their leisure time, driving the experience economy. The experience economy is an economy based on consumers investing in experiences rather than in owning goods or consuming services. Social media has helped the consumers to accelerate the demand for such experiences as the consumers communicate with the world through this platform.

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