Location-based Entertainment Market Opportunities by 2031
The location-based entertainment market size is projected to reach US$ 4.98 billion by 2031 from US$ 1.88 billion in 2023. The market is expected to register a CAGR of 12.9% during 2023–2031. The increasing popularity of 360-degree VR-based games and a mix of AR and VR technology with 3-D projection mapping are likely to remain key trends and drivers in the market.
Location-based Entertainment Market Analysis
The location-based entertainment market is experiencing significant growth globally. This growth is attributed to factors such as the rising popularity of 360-degree VR-based games and a mix of AR and VR technology with 3-D projection mapping. Moreover, the development and integration of advanced technology and tools and the advent of next-generation laser tags are anticipated to hold several opportunities in the market in the coming years.
Location-based Entertainment Market Overview
Location-based entertainment (LBE) is a consumer-facing industry category that combines elements of hospitality, leisure and retail. As the name implies, location-based entertainment venues are physical destinations that consumers visit with the expectation of being entertained. These venues are designed to provide consumers with entertainment, education, and immersive experiences that they cannot get at home.
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Location-based Entertainment Market: Strategic Insights
Location-based Entertainment Market
-
CAGR (2023 - 2031)
12.9%
-
Market Size 2023
US$ 1.88 Billion
-
Market Size 2031
US$ 4.98 Billion
Market Dynamics
GROWTH DRIVERS
- Rising Popularity of 36° VR based Games to Favor Market
FUTURE TRENDS
- Development and integration of advanced technology are anticipated to drive the market in the forecast period.
OPPORTUNITIES
- The advent of next-generation laser tags.
Key Players
- BidOn Games Studio
- Dimension
- HQSoftware
- IMAX CORPORATION
- Neurogaming LTD
- TESLASUIT
- SpringboardVR
- Samsung Electronics Co Ltd
- Vicon Motion Systems Ltd
- VRstudios Inc
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Component
- Hardware and Software
Technology
- 2-Dimensional and 3-Dimensional
End-use
- Amusement Parks
- Arcade Studios
- Film Studios
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Location-based Entertainment Market: Strategic Insights
-
CAGR (2023 - 2031)12.9% -
Market Size 2023
US$ 1.88 Billion -
Market Size 2031
US$ 4.98 Billion
Market Dynamics
- Rising Popularity of 36° VR based Games to Favor Market
- Development and integration of advanced technology are anticipated to drive the market in the forecast period.
- The advent of next-generation laser tags.
Key Players
- BidOn Games Studio
- Dimension
- HQSoftware
- IMAX CORPORATION
- Neurogaming LTD
- TESLASUIT
- SpringboardVR
- Samsung Electronics Co Ltd
- Vicon Motion Systems Ltd
- VRstudios Inc
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Hardware and Software
- 2-Dimensional and 3-Dimensional
- Amusement Parks
- Arcade Studios
- Film Studios
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Location-based Entertainment Market Drivers and Opportunities
Rising Popularity of 360° VR based Games to Favor Market
360 virtual reality (also known as 360 VR) is interactive and immersive content that surrounds a user as if they are standing in the middle of a scene. This content can be viewed through any device, and it allows the user to look in any direction, allowing them to see and interact with the content as they would in real life. Moreover, various companies are launching the 360° VR based games. For instance, in March 2024, Virtuix, one of the developers behind the Omni One full-body VR gaming system, announced 35 launch titles. The Omni One includes a proprietary 360-degree treadmill that allows players to freely run around and immersive themselves in virtual reality games. Thus, the increasing popularity and availability of 360° VR based games are driving the market.
The advent of next-generation laser tags.
Tager is the equipment for a tactical game of the next generation. The game imitates armed combat. The objective of the game is to defeat the rival using a special light blaster while at the same time avoiding getting defeated. Moreover, various companies, such as Urban Underground Limited, are initiating the next-generation laser tag. For instance, in May 2023, Urban Underground Limited is currently working on its new immersive indoor gaming hub at Serpentine Green in Hampton, Peterborough. A new laser tag and gaming center is due to open at a shopping center.
Location-based Entertainment Market Report Segmentation Analysis
Key segments that contributed to the derivation of the location-based entertainment market analysis are component, technology, and end-use.
- Based on component, the location-based entertainment market is divided into hardware and software. The hardware segment is anticipated to hold a significant market share in the forecast period.
- Based on technology, the location-based entertainment market is divided into 2-dimensional and 3-dimensional. The 3-dimensional segment is anticipated to hold a significant market share in the forecast period.
- By end-use, the market is segmented into amusement parks, arcade studios, and film studios. The arcade studios segment is anticipated to hold a significant market share in the forecast period.
Location-based Entertainment Market Share Analysis by Geography
The geographic scope of the location-based entertainment market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the location-based entertainment market. High technology adoption trends in various industries in the North American region have fuelled the growth of the location-based entertainment market. Factors such as increased adoption of digital tools and high technological spending by government agencies are expected to drive the North American location-based entertainment market growth. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has a large number of location-based entertainment market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the location-based entertainment market.
Location-Based Entertainment Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2023 | US$ 1.88 Billion |
Market Size by 2031 | US$ 4.98 Billion |
Global CAGR (2023 - 2031) | 12.9% |
Historical Data | 2021-2022 |
Forecast period | 2024-2031 |
Segments Covered |
By Component
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Location-Based Entertainment Market News and Recent Developments
The location-based entertainment market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the location-based entertainment market are listed below:
- WildBrain CPLG launched a location-based entertainment division. The team will initially focus on expanding WildBrain's homegrown and partner brands with new attractions in the APAC region, including Teletubbies entertainment centers and Peanuts hotels. (Source: WildBrain, Company Website, September 2023)
- iQIYI, a leading online entertainment service in China, announced the upcoming launch of a VR immersive theater of Galaxy Promenade in Galaxy Macau this summer, adapted from its hit series Love Between Fairy and Devil, showcasing iQIYI's commitment to expanding location-based entertainment through its unique blend of 'IP+ Technology. (iQIYI, /Company Website, May 2024)
Location-Based Entertainment Market Report Coverage and Deliverables
The “Location-Based Entertainment Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Location-based entertainment market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Location-based entertainment market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Location-based entertainment market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the location-based entertainment market.
- Detailed company profiles
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
North America is anticipated to dominate the location-based entertainment market in 2023.
The increasing popularity of 360-degree VR-based games and a mix of AR and VR technology with 3-D projection mapping are some of the factors driving the location-based entertainment market.
Development and integration of advanced technology are anticipated to drive the market in the forecast period.
The key players holding majority shares in the global location-based entertainment market are BidOn Games Studio, Dimension, HQSoftware, IMAX CORPORATION, Neurogaming LTD, TESLASUIT, SpringboardVR, Samsung Electronics Co., Ltd., Vicon Motion Systems Ltd., VRstudios, Inc.
The global location-based entertainment market is expected to reach US$ 4.31 billion by 2031.
The expected CAGR of the location-based entertainment market is 12.9%.