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Key Trends Reshaping the Recreation Market: Amusement Parks Embrace Virtual And Augmented Reality For Immersive Experiences Industry Transformation
Recreation
Recreation Market Size Growth Forecast: What to Expect by 2025?
The size of the recreation market has seen significant growth in the past few years. It is projected to increase from $1635.83 billion in 2024 to $1720.41 billion in 2025, with a compound annual growth rate (CAGR) of 5.2%. Factors contributing to growth in the historical period include availability of leisure time, economic state, demographic patterns, urbanization, and government regulations.
How Will the Recreation Market Size Evolve and Grow by 2029?
The projection for the recreation market size indicates a robust upturn in the coming years, set to reach $2119.88 billion by 2029 with a compound annual growth rate (CAGR) of 5.4%. This growth during the projected period can be ascribed to factors such as virtual and augmented reality experiences, focus on wellness and mindfulness, commitment to sustainable recreation, offering personalized leisure experiences, and promoting inclusive recreation. Key tendencies in the projected period encompass outdoor adventure tourism, experiential tourism, retreats focusing on digital detox, culinary and food tourism, and community-oriented recreation programs.
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What Drivers Are Propelling the Growth of Recreation Market Forward?
The expansion of the recreation market is supported by the anticipated steady economic advancement in numerous developed and emerging nations. As an example, TRADING ECONOMICS, a US-based firm that supplies economic statistics, reported that in 2023, the United States recorded a GDP of roughly $27.36 trillion, which accounted for about 25.95% of the global economy. This was coupled with an annual growth percentage of 2.90% and a per capita GDP of $65,020.35. This sustained economic development is predicted to augment investments in final-user markets and act as a catalyst for the recreation market, as increased prosperity enables customers to frequent recreational establishments.
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What Trends Will Shape the Recreation Market Through 2029 and Beyond?
An increasing number of amusement parks have begun to deploy virtual and augmented reality technologies, aiming to offer customers a more immersive experience. Virtual reality generates a 3D environment on a computer that allows a user to interact with it. Augmented reality, on the other hand, introduces digital aspects into a real-world context by overlaying virtual objects onto it. This technology is being integrated into thrill rides and theater attractions at several theme parks. For example, the Plopsaland De Panne park in De Panne, Belgium, recently unveiled a novel virtual reality wooden roller coaster named Heidi The Ride that can attain speeds in excess of 43 mph. SeaWorld has launched a new Kraken Virtual Reality Roller Coaster in Orlando, and the Weave Breaker coaster creates a true-to-life jet skiing experience within the amusement park setting. Universal Studios also features The Walking Dead mazes that incorporate augmented reality components.
What Are the Key Segments in the Recreation Market?
The recreation market covered in this report is segmented -
1) By Type: Amusements, Arts, Sports
2) By Age Group: Aged 35 and Younger, Aged 35-54, Aged 55 and Older
3) By Revenue Source: Media Rights, Merchandising, Tickets and Sponsorship
Subsegments:
1) By Amusements: Theme Parks, Water Parks, Arcade Games
2) By Arts: Performing Arts, Visual Arts, Cultural Events
3) By Sports: Team Sports, Individual Sports, Recreational Activities
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Who Are the Key Players Shaping the Recreation Market's Competitive Landscape?
Major companies operating in the recreation market include The Hong Kong Jockey Club, The Walt Disney Company, China Sports Lottery, China Welfare Lottery, Sociedad Estatal Loterías y Apuestas del Estado S.A., Flutter Entertainment plc, Cinemark Holdings Inc., Tabcorp Holdings Ltd., Cineworld Group plc, Compagnie du Mont-Blanc S.A., Compagnie des Alpes S.A., Oriental Land Company Ltd., Cinplex Inc., Gym Group plc, City Sports & Recreation plc, Club de Futbol Intercity SAD, Guangzhou Jinyi Media Corp. A, Guangdong Jinma Entertainment Corp. Ltd., Grupo Sports World S.A.B. de C.V., Creative China Holdings Ltd., Herschend Family Entertainment Corp., Hall of Fame Resort & Entertainment Co., Country Club Hospitality & Holidays Ltd., Maruhan Corp., City Pulse Multiplex Ltd.
What Geographic Markets Are Powering Growth in the Recreation Market?
Asia-Pacific was the largest region in the recreation market in 2024. Eastern Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the recreation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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