PORTLAND, Oregon, March 20, 2019 Allied Market Research recently published a report, titled, “Family/Indoor Entertainment Centers Market by Visitor Demographics (Families with Children (0-8), Families with Children (9-12), Teenagers (13-19), Young Adults (19-25), Adults (Ages 25+)), Facility Size (Up to 5,000 sq. ft., 5,001 to 10,000 sq. ft., 10,001 to 20,000 sq. ft., 20,001 to 40,000 sq. ft., 1 to 10 acres, 10 to 30 acres, and Over 30 acres), Revenue Source (Entry Fees & Ticket Sales, Food & Beverages, Merchandising, Advertisement, and Others), Application (Arcade Studios, AR and VR gaming Zones, Physical Play Activities, Skill/Competition Games, and Others), Type (Children’s Entertainment Centers (CECs), Children’s Edutainment Centers (CEDCs), Adult Entertainment Centers (AECs), and Location-Based VR Entertainment Centers (LBECs)): Global Opportunity Analysis and Industry Forecast, 2018–2025”. According to the report, the global Family/Indoor Entertainment Centers Market accounted for $18.91 billion in 2017 and is expected to garner $40.81 billion by 2025, registering a CAGR of 10.2% during the period from 2018 to 2025.
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Rise in disposable income, availability of ersified gaming & entertainment options, surge in preference for indoor entertainment are the major drivers of the global family/indoor entertainment centers market. However, availability of home gaming and mobile devices, high initial cost, and surge in ticket prices hamper the market growth. On the contrary, favorable youth demographics in the Asia-Pacific region is expected to create lucrative opportunities in the near future.
Families with children (9-12) segment to manifest fastest growth by 2025
The families with children (9-12) segment is estimated to manifest the fastest CAGR of 13.1% during the forecast period as more than 60% of visitors to family/indoor entertainment centers are school-aged. However, the teenagers (13-19) segment held the largest market share in 2017, contributing about 45% of the total market share, owing to rise in popularity of arcade games and thrill of amusement parks among teenagers. The report includes analysis of other segments such as families with children (0-8), young adults (20-25), and adults (Ages 25+).
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1 to 10 acres segment dominates the market
The 1 to 10 acres segment dominated the market in terms of revenue, contributing nearly one-third of the total market, owing to the presence of a large number of FEC’s whose size ranges between the 1 to 10 acres. However, the 10001 to 20000 sq. ft segment is expected to portray the fastest CAGR of 15.2% during the forecast period, owing to rise in number of local audience and increase in number of key players that are developing FECs. The report also includes analysis of other segments such as up to 5000 sq. ft, 5001 to 10000 sq. ft, 20001 to 40000 sq. ft, 11 to 30 acres, and over 30 acres.
Major market players
The report includes the study of the key market players in the industry, such as Dave & Buster’s, Cinergy Entertainment, Scene 75 Entertainment Centers, Lucky Strike Entertainment, Smaaash Entertainment Pvt. Ltd., CEC Entertainment, Inc., KidZania, The Walt Disney Company, FunCity, and LEGOLAND Discovery Center.
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Serious Games Market Expected to Garner $9,167 Million by 2023
The serious games market is in its growth phase, and is expected to grow at a CAGR of 19.2% during the forecast period. Enterprises are more focused toward employee engagement programs and training & development in an effective & cost-effective way. Further, high Internet penetration, large number of population having online presence, and benefits of serious games in learning is expected to drive the growth in education sector.
Home Entertainment Devices Market Predicted to Surpass $294,969 Million by 2022
The market growth for home entertainment systems is boosted by the development of new and connected products. Companies operating in the market launch new products and services which increase the convergence between the current products and the rising Internet-of-Things. There is also high competition among key market players which forces them to bring continuous innovation in their products.
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SOURCE Allied Market Research