Press release
Global Location-Based Entertainment Market Set For 24.23% Growth, Reaching $11.75 Billion By 2029
global location-based entertainment market
The global location-based entertainment market reached a value of nearly $3.86 billion in 2024, having grown at a compound annual growth rate (CAGR) of 10.76% since 2019. The market is expected to grow from $3.86 billion in 2024 to $11.75 billion in 2029 at a rate of 24.95%. The market is then expected to grow at a CAGR of 24.23% from 2029 and reach $34.79 billion in 2034.
What strategies are being adopted by key players in the location-based entertainment market?
The key players in the market are adopting extensive strategies in the location-based entertainment market such as:
• Form strategic alliances to enhance expertise.
• Leverage partnerships for tech integration.
• Expand services and market reach.
• Upgrade facilities for higher production.
• Implement automation for efficiency.
• Invest in R&D for quality improvement.
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To take advantage of opportunities, The Business Research Company suggests that location-based entertainment companies enhance offerings:
• Enhance theme parks, arcades, and escape rooms with interactive and personalized experiences.
• Cater to the growing demand for individualized and tailored leisure activities.
• Expand food & beverage services to complement entertainment experiences.
• Accelerate growth in Asia-Pacific and the Middle East, driven by rising incomes and urbanization.
• Address the needs of eco-conscious consumers with sustainable entertainment options.
• Develop hybrid experiences that seamlessly integrate digital technologies with physical attractions.
What Is Location-Based Entertainment: Market Overview?
Location based entertainment (LBE) is an entertainment experience, or a leisure offering that exists under a commercial location. This generally considered a key mode of key mode of immersive experience, social, and interactive experience that cannot be generated at home. Some of these commercial locations includes amusement parks, malls & retail spaces, recreation areas, resorts & hotels, and so on. The key objective of LBE is to increase visitor traffic to shopping centers, mixed-use projects, resort locations of all sizes, and malls, these experiential entertainment properties are crucial anchors.
LBE has evolved to a greater extent since the last century under various names with is first organized form as leisure gardens in second half of the 16th century. Locations including village squares, taverns, city forums as well as coliseum of Rome may arguably fall as precursors of the location-based entertainment centers. Since then this concept has evolved to a greater extent with innovative ideas and experiments to improve the level of engagements. Today, LBE has evolved to a greater extent thanks to constant adoptions of fresh innovations with integration of new technologies. As we embrace most innovative forms of immersive experience including virtual reality (VR), living augmented reality (AR), cloud managed reality (CMR), holography, and 3D projection mapping; LBE has been emerging as deeply engaging and interactive environment that makes users being part of this virtual or physical world.
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Who Are The Major Companies Operating In The Global Location-Based Entertainment Market?
The top 10 competitors in the market made up 36.31% of the total market in 2023. The Walt Disney Company was the largest competitor with a 9.59% share of the market, followed by:
• Meta Platforms Inc.
• Microsoft Corporation.
• Samsung Electronics Co. Ltd.
• Niantic Inc.
• Unity Technologies Inc.
• NBCUniversal Media LLC.
• Hologate GmbH.
• Six Flags Entertainment Corporation.
• HTC Corporation (VIVE).
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