Press release
Rising preference for indoor entertainment fuelling the market growth of FECs
Indoor entertainment centres are increasingly preferred as entertainment and leisure options by families over outdoor entertainment centres in order to ensure that environmental factors and weather changes do not affect any fun time or experience of customers. Along with this, companies are offering food and other services at indoor entertainment centres under a single roof, which is another factor prompting customers to visit FECs and this factor is expected to drive growth of the FEC market region over the forecast period globally.Future Market Insights forecasts revenue from the Global Family/Indoor Entertainment Centres market to increase from about US$ 17 Bn in 2017 to about US$ 61 Bn by 2027 end, representing a CAGR of 13.3% from 2017 to 2027.
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With continuous innovations in technological aspects, family entertainment centres are offering a diversified range of gaming options for their customers. New technologies such as virtual reality gaming, 3D technology, etc. are trending and consumers are preferring modern ways of entertainment over traditional entertainment options. Hence, the availability of a number of options for gaming is driving the growth of the family entertainment centres market especially in the North America region over the forecast period.
The North America region is currently facing stagnation in terms of income of the middle class population. This is expected to affect consumer spending on family entertainment centres. Ticket prices of entertainment centres is increasing constantly owing to various economic factors.
In terms of value, the arcade studios segment is projected to be the most attractive segment in the global family/indoor entertainment centres market during the assessment period. VR gaming zones are expected to register moderate y-o-y growth rate throughout the forecast period.
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With an increasing number of malls in various cities of North America, consumers visit these malls on weekends, usually for shopping and spending time at restaurants. The presence of entertainment centres at these malls allows customers to spend quality time with their family and friends, while playing games and other indoor sports.
Hence, entertainment centres are becoming favourite hangout places for families with a combination of shopping, eating, and play area. Family entertainment centres are attracting families in large numbers, which is expected to positively impact revenue growth of the market.
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https://www.futuremarketinsights.com/reports/family-indoor-entertainment-centres-market/toc
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Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
FMI’s team of over 200 research analysts provides market intelligence at global, regional, and country level. Our analysts are committed to provide independent insights, relying on our cognitive defusion training module, which conditions them to look at data objectively and unbiasedly.
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