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Increasing Consumer Spending On Games And Video Content Enhanced Growth Of The Location-Based Entertainment Market: A Key Factor Shaping the Future of the Location-Based Entertainment Market in 2025
Location-Based Entertainment
The growing consumer spending on games and video content is expected to propel the growth of the location-based entertainment market. Increased spending on video games, in-game purchases, and streaming services reflects growing demand for digital entertainment and immersive experiences. This spending also boosts location-based entertainment, which offers similar interactive experiences at physical venues. According to the Entertainment Software Association, video game sales reached $57.2 billion in 2023, up from $56.6 billion in 2022. Therefore, the increase in consumer spending on video games is driving the growth of location-based entertainment.
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What is the future CAGR of the location-based entertainment market, and how will it impact industry expansion?
The location-based entertainment market will surge from $3.86 billion in 2024 to $4.89 billion in 2025 at a CAGR of 26.7%, fueled by social media influence, urbanization, experiential spending, and pop culture collaborations.
The location-based entertainment market is expected to grow exponentially, reaching $12.53 billion by 2029 at a CAGR of 26.5%. Growth is fueled by AI integration, expansion into emerging markets, sustainability initiatives, cross-industry collaborations, and hybrid experience models. Major trends include AR and VR adoption, immersive experiences, interactive attractions, and advancements in entertainment technology.
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What are the most significant trends transforming the location-based entertainment market today?
Companies in the location-based entertainment market are focused on creating innovative solutions like advanced virtual reality (VR) technologies to improve immersive experiences and attract a larger audience. VR technology enhances the entertainment experience by allowing users to interact with digital environments in physical spaces. For example, in September 2022, Shanghai Disney Resort opened the SoReal VR SuperSpace in its Disneytown shopping district. This two-story venue features VR experiences and an immersive VR walkthrough, developed by SoReal, a China-based VR company, to enhance visitor engagement and entertainment within the resort.
Which key market segments comprise the location-based entertainment market and drive its revenue growth?
The location-based entertainment market covered in this report is segmented -
1) By Offerings: Hardware, Software, Services
2) By Technology: 2 Dimensional (2D), 3 Dimensional (3D), Cloud Merged Reality (CMR)
3) By End-Use: Amusement Parks, Arcade Studios, 4D Films
Subsegments:
1) By Hardware: Gaming Consoles, Virtual Reality (VR) Headsets, Augmented Reality (AR) Devices, Interactive Kiosks, Motion Tracking Equipment, Projection Equipment
2) By Software: Game Development Software, Simulation Software, VR Or AR Content Creation Software, Location-Based Game Applications, Analytics And Data Management Software
3) By Services: Game Hosting And Maintenance Services, Content Creation And Customization Services, Consulting And Integration Services, Customer Support And Technical Assistance, Installation And Setup Services
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What regions are at the forefront of location-based entertainment market expansion?
North America was the largest region in the location-based entertainment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the location-based entertainment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the location-based entertainment market?
Major companies operating in the location-based entertainment market are Google LLC, Samsung Electronics Co. Ltd., Microsoft Corporation, Meta Platforms Inc., Huawei Technologies Co. Ltd., The Walt Disney Company, Panasonic Corporation, Nvidia Corporation, Regal Entertainment Group, Unity Technologies Inc., AEON Fantasy Co. Ltd., Sony Interactive Entertainment LLC, Magic Leap Inc., HTC Corporation, Niantic Inc., Barron Games International LLC, Bob's Space Racers Inc., HQ Software LLC, Habo Studio Inc., CamOnApp S.A., E-Learning Studios Ltd., SpringboardVR Inc., BidOn Games Studio LLC, VRstudios LLC
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What Is Covered In The Location-Based Entertainment Global Market Report?
•Market Size Forecast: Examine the location-based entertainment market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the location-based entertainment market for a structured understanding.
•Key Players Overview: Analyze major players in the location-based entertainment market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the location-based entertainment market.
•Segment Contributions: Evaluate how different segments drive overall growth in the location-based entertainment market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the location-based entertainment market.
•Industry Challenges: Identify potential risks and obstacles affecting the location-based entertainment market.
•Competitive Landscape: Review strategic developments in the location-based entertainment market, including expansions, agreements, and new product launches.
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