Location-Based Entertainment Market Growth Accelerates: Strategic Forecast Predicts $11.57 Billion by 2029

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What Will the Location-Based Entertainment Industry Market Size Be by 2025?
The market for location-based entertainment has seen exponential growth over the past few years. It's projected to increase from $3.86 billion in 2024 to $4.81 billion in 2025, with a compound annual growth rate (CAGR) of 24.7%. Factors contributing to this growth in the historical period include pop culture tie-ins, influence of social media, the process of urbanization, activities involving families and groups, and trends in spending based on experiences.

What's the Long-Term Growth Forecast for the Location-Based Entertainment Market Size Through 2029?
Predictions indicate a massive surge in the size of the location-based entertainment market in the years to come. It's anticipated to reach $11.57 billion by the year 2029, with a compound annual growth rate (CAGR) of 24.5%. This growth during the forecast timeframe can be linked to factors such as the incorporation of artificial intelligence, market expansion into developing economies, the focus on sustainability and eco-friendliness, collaborations across industries, and a shift towards mixed experiences. Major emerging trends within this period incorporate augmented reality (AR) integration, immersive experiences, the incorporation of virtual reality (VR), emphasis on interactive attractions, and technological progressions.

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What Are the Key Growth Drivers Fueling the Location-Based Entertainment Market Expansion?
The location-based entertainment market's potential for growth is predicted to be driven by increased expenditure on games and video content by consumers. This expenditure pertains to the money individuals allocate towards purchasing or subscribing to services such as video games, downloadable content, in-game purchases, as well as streaming services and various other digital entertainment products. The rise in consumer spending on games and video content exhibits the ongoing increase in demand for digital entertainment, immersive gaming experiences, and shift towards online streaming platforms. The contribution of consumer spending to the location-based entertainment market is reflected in the amplification of immersive experiences, sparking an interest in similar interactive and experiential services at physical locations. For instance, data released by the Entertainment Software Association, a US-based trade union for the video game industry, in February 2024 showed a jump in total video game sales to $57.2 billion in 2023, up from $56.6 billion in 2022. Most of this increase was due to a surge in video game content spending, which, in 2022, went from $47.5 billion to $48.0 billion. Therefore, the upward trend in consumer spending on games and video content is a driving force for the growth of the location-based entertainment market.

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What Are the Key Trends Driving Location-Based Entertainment Market Growth?
Prominent businesses situated in the location-based entertainment market are prioritizing the development of inventive solutions like cutting-edge virtual reality technologies to broaden the experience and lure a larger audience. Location-based entertainment enhances the overall amusement experience by applying virtual reality technology that fosters interactive and immersive digital realms in physical spaces. For example, Shanghai Disney Resort, a theme park based in China, launched SoReal VR SuperSpace in September 2022 - an engaging VR amusement in the Disneytown shopping, dining, and entertainment district of the resort, marking it as Shanghai's premier flagship store. A two-tier venue, it offers VR experiences on the ground level, and an extensive VR walkthrough on the upper level. This modern innovation, brought to life by SoReal, a VR corporation from China, accentuates visitor interaction and diversifies amusement possibilities within Disneytown.

How Is the Location-Based Entertainment Market Segmented?
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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Which Companies Are Leading the Charge in Location-Based Entertainment Market Innovation?
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

Which Regions Are Leading the Global Location-Based Entertainment Market in Revenue?
North America was the largest region in the location-based entertainment market in 2024. 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.

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