Global Family Entertainment Centers Market
The GMI Research forecasts that the Family Entertainment Centers Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the presence of activities to entertain all ages at an affordable cost and the evolving advanced technologies such as virtual reality and 3D display.
Introduction of the Family Entertainment Centers Market:
Family entertainment centers are places that strive to enhance family fun and provide new and diverse activities for everyone. They can be small amusement parks or entertainment zones and inordinately functions in the small and big cities. They are developed to keep the complete family involved, usually at a lower cost as compared to the traditional amusement park, and offer various options such as arcades, gaming consoles, redemption machines, and indoor playground systems.
Key Players of the Global Family Entertainment Centers Market:
- CEC Entertainment, Inc.
- LEGOLAND Discovery Center
- Lucky Strike Entertainment
- KidZania
- Cinergy Entertainment Group
- Scene75 Entertainment Centers
- Funcity
- Dave & Buster’s
- Disney
- Smaaash
Family Entertainment Centers Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The family entertainment centers market is likely to experience strong growth in the upcoming years owing to the rising disposable income, which is leading to an increase in consumer spending on entertainment options and the increasing construction of malls or shopping centers across several countries. In addition to this, an increase in the implementation of advanced technologies in these centers, such as 3D technology and virtual reality gaming, is also a critical factor that is creating various growth opportunities for the market. The rising prices of tickets and the need for high capital expenditure for the creation of a new setup will hinder market growth. In addition to this, the widespread outbreak of the COVID-19 pandemic has negatively impacted the market growth due to the temporary shutdown of malls, shopping centers, and other public places to curb the spread of the virus. Nevertheless, the market is forecasted to bounce back in 2020 while fuelling at a notable rate from 2022 onwards.
Type Segment Drivers
Based on type, Arcade Studios are contemplated to witness a higher compound annual growth rate in the coming years due to the increasing preference of customers towards the AR and VR games, which has raised the owners’ emphasis towards offering a better and latest experience. Different features such as enhanced visual experience, optimal graphics performance, and rich interactivity are leading to an increase in demand for these games.
Revenue Source Segment Drivers
Based on the revenue source, Food & Beverages will observe a faster growth during the forecast period due to the soaring disbursement of the customers on food and the accessibility of distinct food options. The increasing tendency towards these places for organizing the parties is proliferating the market growth.
Regional Drivers
Based on the regional coverage, North America is predicted to enlarge with a faster CAGR owing to the increasing setup of shopping malls and shopping centers, resulting in an escalation in the entertainment centers. The increase in disposable income and a rise in the middle-class population have also led to a surge in consumer expenditure in the entertainment centers.
Family Entertainment Centers Market Segmentation:
Segmentation by Type
- Arcade Studios
- AR & VR Gaming Zones
- Sports Arcades
- Others
Segmentation by Facility Size
- Up to 5,000 sq. ft.
- 5,001-10,000 sq. ft.
- 10,001-20,000 sq. ft.
- 20,001-40,000 sq. ft.
- More Than 40,000 sq. ft.
Segmentation by Visitor Demographics
- Families with Children (0-8)
- Families with Children (9-12)
- Teenagers (13-19)
- Young Adults (20-25)
- Adults (Age 25+)
Segmentation by Revenue Source
- Entry Fees & Ticket Sales
- Advertising
- Food & Beverages
- Merchandising
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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