Saudi Arabia Family Entertainment Centers Market is anticipated to grow at a CAGR between 9% to 12% during the forecast period 2021-2028 | Size & Growth Report

Saudi Arabia Family Entertainment Centers Market

The Saudi Arabia Family Entertainment Centers Market is estimated to grow at a CAGR between 9% to 12% over the forecast period (2021-2028).

For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/saudi-arabia-family-indoor-entertainment-centers-market/

The factors driving growth of the Saudi Arabia Family Entertainment Centers Market includes rapid growth in the tourism industry, growing popularity of mobile gaming, favorable youth demographics, increasing number of malls and entertainment centers and improvements in the living standards. For instance, the revenue generated by the Travel and Tourism industry across Saudi Arabia is estimated to reach around €2,920 Million by the end of 2022, growing at a CAGR of 6.7% over the forecast period (2022-2026), which will accelerate the Saudi Arabia Family Entertainment Center Market share in the coming years. Moreover, family entertainment centers offer reward points, visit points, memberships & cards, bonuses, and loyalty programs, which will generate tremendous opportunities in the market. In addition, the advent of virtual reality gaming, 3D technology and Augmented reality, growing consumers preference for indoor entertainment, increasing investments by leading players on research and development and strategic partnerships and collaborations between companies, are further contributing towards the market growth.

However, growth of the market is hindered attributed to rise in the price of tickets in entertainment centers.

Based on Revenue Sources, the Entry Fees & Ticket Sales segment is projected to grow at a significant CAGR during the forecast period

As per the Saudi Arabia Family Entertainment Center Markets Report, entry fees emerged as the major source of revenue for family entertainment centers, because visitors are required to pay entry fees for experiencing different services inside entertainment centers, is the prime factor propelling growth of the segment.

Based on Type, the Rides segment is anticipated to grow at a remarkable CAGR over the forecast period

Increasing consumers disposable incomes and wide range of rides offered by family entertainment centers rides such as kiddie rides, bumper cars, family rides, electro-mechanical rides, and mechanical bull rides, which are pushing growth of the segment.

Key Developments

In 2021, CEC Entertainment, Inc., decided to open 100 new outlets across the globe over the coming period, with at least 25 in the kingdom of Saudi Arabia. The firm currently owns two franchisee partners in Saudi Arabia and is looking for the expansion in the country.
In 2021, Al Hokair Group planned to open around 57 food & beverage outlets in coming 12 to 16 months in their family entertainment centers in the country. Moreover, the company has planned to open 50 more retail stores in the abovementioned period in the kingdom of Saudi Arabia.
In 2019, CAVU Designwerks, planned to expand its presence in the Middle East with its new branch that will service in Beirut, Riyadh, and Abu Dhabi. This new branch will enable the company to create close relationships with and provide a high-quality service to clients in the area.

Market Segmentation

Segmentation by Revenue Sources

Entry Fees & Ticket Sales
Food & Beverage
Advertising
Merchandising

Segmentation by Facility Size

30000 Sq. Ft.

Segmentation by Type

Arcade Studios
AR & VR Gaming Zones
Rides
Others (Soft Play, Role Play, etc.)

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe - +353 1 442 8820; US - +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/

Level 1, The Chase Carmanhall Road, Sandyford Industrial Estate, Dublin D18 Y3X2, Ireland

GMI Research's leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our clients business problems and add significant value to long lasting relationship.

This release was published on openPR.