Family/Indoor Entertainment Centers Market Share Reach USD 88.7 Billion by 2032 | Why You Should Invest In this Industry

Advancements in gaming technology & availability of a wide range of gaming options are driving the market growth.

PORTLAND, PORTLAND, OR, UNITED STATE, July 15, 2024 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " Family/Indoor Entertainment Centers Market Share Reach USD 88.7 Billion by 2032 | Why You Should Invest In this Industry ." 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 was valued at USD 30.9 billion in 2022, and is projected to reach USD 88.7 billion by 2032, growing at a CAGR of 11.5% from 2023 to 2032.

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Favorable youth demographics and the continuous launch of new FECs supporting family activities, food & beverages (F&B) integration, and participatory play boost the growth of the global family/indoor entertainment centers market. In addition, the increase in the number of malls positively impacts the growth of the market. Surge in investments on new games and attractions is expected to offer remunerative opportunities for the expansion of the market during the forecast period.

The 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. Depending on revenue source, it is classified into entry fees & ticket sales, food & beverages, merchandising, advertisement, and others. On the basis of type, the market is categorized into children’s entertainment centers (CECs), children’s edutainment centers (CEDCs), adult entertainment center's (AECs), and location-based VR entertainment centers (LBECs). In terms of visitor demographics, the market is categorized into families with children (0-9), families with children (9-12), teenagers (12-18), young adults (18-24), and adults (ages 24+). Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Covid-19 Scenario

● Due to the COVID-19 pandemic and the subsequent global lockdowns, the family indoor entertainment centers market faced a downturn.

● However, as the global situation started ameliorating, with fewer customers and more pricing, theme parks are expected to add value to their experiences and make them more immersive. This, in turn, presented various growth opportunities for companies operating in the family indoor entertainment centers market.

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Based on visitor demographics, the teenagers (12-18) segment accounted for the largest share in 2022, contributing to more than one-third of the global family/indoor entertainment centers market revenue, owing to the innovative and variety of games offered by numerous family entertainment centers (FECs). However, the families with children (9-12) segment is expected to portray the largest CAGR of 13.9% from 2023 to 2032, and is projected to maintain its lead position during the forecast period, as most parents prefer fun learning and adventure-focused games.

Based on type, the children’s entertainment centers (CECs) segment held the highest market share in 2022, accounting for nearly two-fifths of the global family indoor entertainment centers market revenue, and is estimated to maintain its leadership status throughout the forecast period, owing to the surge in focus on child/parent interaction and the primary focus on child play activities and entertainment for younger children. However, the location-based VR entertainment centers (LBECs) segment is projected to manifest the highest CAGR of 14.4% from 2023 to 2032, owing to the introduction of interactive multiplayer games in many FECs.

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global family/indoor entertainment centers market revenue, owing to the integration of new technologies, such as 3D technology, virtual reality gaming, and others, which are trending, and consumers prefer modern ways of entertainment over traditional entertainment options. However, the Asia-Pacific region is expected to witness the fastest CAGR of 13.6% from 2023 to 2032, and is likely to dominate the market during the forecast period, owing to a rise in the number of malls in this region.

Some key players operating in the family/indoor entertainment centers market such as CEC Entertainment Concepts, LP., Cinergy Entertainment Group, Landmark Leisure LLC (Fun City), Funriders, KidZania, Dave and Buster’s, Inc., Lucky Strike Entertainment, Scene75 Entertainment Centers, Smaaash, and Timezone Global.

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