Family/Indoor Entertainment Centers Industry
Factors such as growing per capita disposable income and technological innovations such as virtual reality games drive the market.
PORTLAND, PORTLAND, OR, UNITED STATE, May 12, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Family/Indoor Entertainment Centers Market Reach USD 69.55 Billion by 2030 | Top Players such as – Cinergy, KidZania & Disney.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global family/indoor entertainment centers market size was valued at USD 25.14 billion in 2020, and is projected to reach USD 69.55 billion by 2030, growing at a CAGR of 10.9% from 2021 to 2030.
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Favorable youth demographics and continuous launch of new FECs supporting family activities, F&B integration, and participatory play boost the growth of the global family/indoor entertainment centers market. In addition, increase in number of malls positively impacts the growth of the market. However, increase in ticket prices and rise in popularity of home and mobile gaming hamper the market growth.
The global family/indoor entertainment centers market is segmented based on activity area, facility size, revenue source, type, visitor demographics, and region. In terms of activity area, the market is classified into arcade studios, AR & VR gaming zones, physical play activities, skill/competition games, and others. Depending on facility size, it is divided into 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, 11 to 30 acres, and over 30 acres. By revenue source, it is segregated into entry fees & ticket sales, food & beverages, merchandising, advertisement, and others.
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On the basis of type, the market is categorized into children’s entertainment centers (CECs), children’s edutainment centers (CEDCs), adult entertainment centers (AECs), and location-based VR entertainment centers (LBECs). In terms of visitor demographics, the market is fragmented into families with children (0-8), families with children (9-12), teenagers (13-19), young adults (20-25), and adults (Ages 25+). Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Depending on facility size, the 1 To 10 acres segment holds the largest family/indoor entertainment centers market share of the market due to the presence of large number of FECs. FECs of such huge size are usually considered as theme parks or amusement parks. However, 10,001 to 20,000 sq ft segment is expected to grow at the highest rate during the forecast period, owing to rise in number of indoor family entertainment centers integrated with arcades, restaurants, and music.
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Based on region, North America accounted for the highest market share in 2020, holding more than one-third of the total market share of the global family/indoor entertainment centers industry, and is estimated to maintain its lead position throughout the forecast period. This is due to presence of a large number of players and rise in popularity of adventurous games and sports. However, Asia-Pacific is projected to register the fastest CAGR of 12.1% during the forecast period. This is attributed to rise in number of malls in countries such as India, China, and other developing countries.
The global family/indoor entertainment centers market is dominated by Cinergy Entertainment Group, CEC Entertainment, Inc., Dave & Buster’s, Inc., Disney, Fun City, Funriders, KidZania, Lucky Strike Entertainment, Scene75 Entertainment Centers, and SMAAASH.
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Covid-19 Scenario
● Owing to lockdown implemented in many countries during the Covid-19 pandemic, many activity centers such as arcade studios, gaming zones, and physical activity centers were closed to curb the spread from cross-contamination. This affected the overall revenue negatively.
● There has been economic instability at destinations such as amusement park, arcades, and others and almost 90–92% of such parks faced a complete ban on dining at their restaurants as well. This, in turn, reduced the overall revenue streams.
● The family/indoor entertainment centers market is expected to recover steadily post-pandemic as government authorities of different countries permit these centers to run with full capacity.
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