children’s entertainment centers market
Thrill rides that are modern embellishments to the classic family fun center which in turn is expected to drive the growth of the market
PORTLAND, PORTLAND, OR, UNITED STATE, September 13, 2022 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, ” Children’s Entertainment Centers Market by Visitor Demographics, Facility Size, Revenue Source, and Activity Area Global Opportunity Analysis and Industry Forecast, 2019-2026.” The report has offered an all-inclusive analysis of the global children’s entertainment centers market taking into consideration all the crucial aspects like growth factors, constraints, market developments, top investment pockets, future prospects, and trends. At the start, the report lays emphasis on the key trends and opportunities that may emerge in the near future and positively impact the overall industry growth.
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The global children entertainment centers market held $8.15 billion in 2018, and is projected to garner $15.37 billion by 2026, registering a CAGR of 8.4% from 2019 to 2026.
Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
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Increase in number of malls, F&B integration, favorable youth demographics, and participatory play drive have boosted the growth of the global children entertainment centers market. Moreover, continuous launch of new entertainment centers supporting family activities supplemented the market growth. However, increase in ticket prices and rise in popularity of home & mobile gaming hamper the market growth. On the contrary, surge in investments in new games and attractions is expected to create lucrative opportunities in the near future.
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On the basis of activity area, the market is categorized into arcade studios, AR and VR gaming zones, physical play activities, skill/competition games, and others. The AR & VR gaming zone segment is projected to portray the fastest CAGR of 11.7% during the study period, owing to increased adoption of VR headsets among entertainment centers. However, the arcade studios segment dominated the market in 2018, accounting for one-third of the market.
The global children entertainment centers market is segmented on the basis of visitor demographics, facility size, revenue source, activity area, and geography. Based on visitor demographics, the market is divided into families with children (0-9), families with children (9-12), teenagers (12-18), young adults (18-24), adults (ages 24+). The families with children (9–12) segment is anticipated to portray the fastest CAGR of 10.9% during the forecast period. However, the teenagers (12–18) segment held the largest share in 2018, contributing to more than two-fifths of the market.
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The global children entertainment centers market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is projected to manifest the fastest CAGR of 10.3% during the forecast period. However, the market across North America held the lion’s share in 2018, accounting for more than one-third of the market.
The global children entertainment centers market report includes an in-depth analysis of the major market players such as Cinergy Entertainment, Dave & Buster’s, CEC Entertainment Inc., Lucky Strike Entertainment, LEGOLAND Discovery Center, Scene 75 Entertainment Centers, The Walt Disney Company, FunCity, KidZania, and Smaaash Entertainment Pvt. Ltd.
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Key Findings of the Children’s Entertainment Centers Market :
• By visitor demographics, the families with children (9-12) segment is expected to exhibit significant growth in the global children entertainment centers market analysis during the forecast period.
• By facility size, the 1 to 10 acres segment accounted for the highest revenue in 2018. This is attributed to its small size centers that can be developed in city areas with high accessibility to families near it.
• By revenue source, the entry fees & ticket sales segment generated the highest revenue in 2018 and is expected to continue its dominance in the global children entertainment centers market trends.
• By activity area, the AR and VR gaming zones segment are expected to exhibit significant growth during the forecast period. This is attributed to rise in demand for immersive experiences among gaming individuals across the globe.
• By region, Asia-Pacific is anticipated to exhibit substantial growth during the Kids entertainment centers market forecast period.
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