[Research Report] The location-based entertainment market is valued US$ 1,444.92 million in 2022; It is estimated to grow at a CAGR of 12.4% from 2022 to 2028.
Location-based entertainment (LBE) occurs in a particular setting, such as family entertainment centers, swimming pools, waterparks, and theme parks. Creating a physical environment with the necessary equipment, props, and other elements is typically a part of the location-based entertainment process. Location-based entertainment is called “out-of-home entertainment” or “interactive multiplayer entertainment.” In any case, LBE is held to imply any entertainment tied to a specific place outside one’s home. Offline shopping malls are trying to attract more consumers through location-based entertainment.
In China, LBE points in shopping centers are opening fast. It happens because online shopping is highly cultured, and people do not go to shopping malls just for shopping. Due to this, people are not able to explore the LBE points. As LBEs are mostly found in shopping malls or amusement parks, if people are focusing on online shopping and are not coming out of their houses, this will lead to a downward trend for the location-based entertainment market, as this can be experienced in such LBE places only.
The type of setup used in location-based VR entertainment is for numerous participants, not just one. A virtual reality (VR) experience lets a group of people experience identical sounds, sights, and feelings together. Virtual reality arcade (VRcade) is a VR genre of entertainment characterized by a short time but intensive gameplay. A VRcade experience requires minimum conditions: a playground of several square meters, an HMD (Head-mounted display), and controllers. VR theme parks and attractions use virtual reality technology to provide tourists with a unique and thrilling experience that is different from previous iterations of theme park attractions. In addition to LBE, Arcade is another end user. Arcades studios are the creative studio of designers, who share their feelings through some storytelling through illustration. Arcades are the end user for massive content distribution and attracting a wide audience, providing a 2D and 3D experience. However, arcades must provide a unique experience that cannot be tried at home. The keys to success in this business are quality and unique content, multiplayer interaction, and sensible narrative.
Location-based Entertainment Market -
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Location-based Entertainment Market: Strategic Insights
Market Size Value in US$ 1,444.92 Million in 2022 Market Size Value by US$ 2,918.91 Million by 2028 Growth rate CAGR of 12.4% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Location-based Entertainment Market: Strategic Insights
| Market Size Value in | US$ 1,444.92 Million in 2022 |
| Market Size Value by | US$ 2,918.91 Million by 2028 |
| Growth rate | CAGR of 12.4% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Numerous location-based entertainment manufacturers, TESLASUIT (Europe), Samsung Electronics Co., Ltd. (South Korea), and many more, are helping various arcade studios, amusement parks, and film studios with VR gadgets to create more immersive and interactive VR experiences. The end users’ industries of the market are amusement parks, arcade studios, and film studios. Increasing demand from mentioned industries is creating positive impact in the location-based entertainment market growth.
Impact of COVID-19 Pandemic on North America Location-based Entertainment Market Growth
North America is one of the most important regions in terms of the development and acceptance of innovative technologies due to favorable government policies to boost innovation, a massive industrial base, and high purchasing power, especially in developed countries, such as the US and Canada. Hence, any impact on the development of industries is expected to affect the region's economic growth. The US is the world's worst affected country due to the COVID-19 outbreak. The US is a prominent market for location-based entertainment. For instance, Zero Latency, a company that offers immersive LBE experiences in virtual reality (VR), recently announced the expansion of its technology in the US, starting with Las Vegas and moving toward Seattle, Houston, Dallas, Cincinnati, and Orlando.
Lucrative Regions for Location-based Entertainment Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights – Location-based Entertainment Market
Based on geography, the location-based entertainment market is primarily segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). North America held the largest market share in 2021 and would retain its dominance during the forecast period. Whereas APAC is expected to register the highest CAGR in the global location-based entertainment market during the forecast period.
Market players, such as IMAX CORPORATION; VRstudio, Inc.; SpringboardVR, have their footprints in North America. These companies are addressing the consumer requirements of amusement parks, arcade studios, and film studios. For the "Tribeca Drive-In," a Tribeca Film Festival, in March 2020, IMAX Corporation worked with Tribeca Enterprises LLC. This festival featured 30 iconic American films to unite people for storytelling and support the manifestation of their creativity by choosing the immersive experiences offered by IMAX Corporation. Therefore, these corporate strategy plans may help to meet the global market's desire for location-based entertainment. Further, the presence of many amusements park, arcade studios, and film studios in the region, especially in the US, is another dominant factor boosting the demand for location-based entertainment.
Technology-Based Insights – Location-based Entertainment Market
Based on technology, the location-based entertainment market is segmented into 2D and 3D. The 3D segment accounted for the largest share of the market in 2021. 3D technology can be more realistic and immersive, allowing improved eye-hand coordination compared to the 2D technology experience that lacks depth perception.
3D environments are produced using computer software and artificial intelligence that replicate the real world or give rise to entirely new environments, which users can deeply explore, just like a game. They can interact with the environment, avatars, and items.
The location-based entertainment market analysis has been segmented by component, technology, end-use, and geography. Based on component, the location-based entertainment market size is segmented into hardware and software. Based on technology, the location-based entertainment market size is bifurcated into 2D and 3D. Based on end-use, the location-based entertainment market analysis is categorized into amusement parks, arcade studios, and film studios. Based on geography, the location-based entertainment market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.
BidOn Games Studio; Dimension; HQSoftware; IMAX CORPORATION; Neurogaming LTD; TESLASUIT; SpringboardVR; Samsung Electronics Co., Ltd.; Vicon Motion Systems Ltd.; and VRstudios Inc. are a few key location-based entertainment market players. The market is highly fragmented, with several players localized in a specific region, focusing on catering to domestic demand.
The location-based entertainment market players focus on developing advanced and efficient systems. For instance:
- In April 2022, Glytch, the professional esports stadium company, announced a strategic partnership with Legends, the global experiences company, and premier sports and entertainment venue and attractions operator.
- In March 2022, HTC VIVE, the premier virtual reality (VR) platform and ecosystem, unveiled several innovations at Mobile World Congress 2022, including advancements in 5G technology, in-car VR experiences, Location-based Entertainment (LBE), and the latest updates to the Viverse, HTC VIVE's place in the metaverse.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Technology, End-use
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
By 2028, the global market size of location-based entertainment market will be US$ 2,918.91 million.
US, Italy, India, UAE and Brazil are registering a high growth rate during the forecast period.
Amusement Park segment held the largest share location-based entertainment market. Many amusement parks use VR for transporting users into the virtual world with the integration of motion capture technology, allowing them to physically move around a virtual space and interact with 3D content and natural objects simultaneously.
China holds the major market share of location-based entertainment market in 2021. The presence of film & TV studio and VR star theme park is contributing in the market growth in China.
Bidon Games Studio; TESLASUIT, VR Electronics Ltd; SpringboardVR; Vicon Motion Systems Ltd; and VRStudios are the five key market players operating in the global location-based entertainment market.
The advent of next-generation laser tags is one of the major trends anticipated to propel the market growth during the forecast period.
Increase The development of 360-degree virtual reality (VR) technology-based games and the mix of AR and VR technology with 3D projection mapping is anticipated to significantly contribute to the expansion of the location-based entertainment market.
The global location-based entertainment market is expected to be valued at US$ 1,444.92 million in 2022.
The List of Companies - Location-based Enetrtainment Market
- BidOn Games Studio
- Dimension
- HQSoftware
- IMAX CORPORATION
- Neurogaming LTD.
- TESLASUIT
- SpringboardVR
- Samsung Electronics Co., Ltd.
- Vicon Motion Systems Ltd.
- VRstudios, Inc.
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- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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