Location-Based Entertainment
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Location-Based Entertainment Market Size Growth Forecast: What to Expect by 2025?
The market size for location-based entertainment has experienced significant expansion lately. It is predicted to increase from $3.86 billion in 2024 to $4.89 billion in 2025, with a compound annual growth rate (CAGR) of 26.7%. This substantial growth during the historical period can be accredited to factors such as popular culture collaborations, social media impact, urban development, communal and family activities, and inclinations towards experiential expenditure.
How Will the Location-Based Entertainment Market Size Evolve and Grow by 2029?
The market size for location-based entertainment is predicted to experience significant growth in the forthcoming years. By the year 2029, it is estimated to increase to a value of $12.53 billion, with a compound annual growth rate (CAGR) of 26.5%. A confluence of factors is behind the projected growth over this period, including the incorporation of artificial intelligence, the move into unexplored markets, the sustainability and eco-friendly movements, collaborations across different industries, as well as the shift towards hybrid events. The predicted major market trends over this term include the use of augmented reality (AR), the creation of immersive experiences, the adoption of virtual reality (VR), a focus on interactive attractions, along with technological advancements.
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What Drivers Are Propelling the Growth of Location-Based Entertainment Market Forward?
The rise in expenditure on games and video content by consumers is predicted to fuel the expansion of the location-based entertainment market. This expenditure encompasses the money spent by people on buying or subscribing to video games, downloadable content, in-game purchases, streaming services and other associated digital entertainment products. The increased expenditure on games and video content indicates a growing preference for digital entertainment experiences, immersive gaming experiences, and a transition towards online streaming platforms. This type of customer expenditure supports location-based entertainment by highlighting the possibilities for immersive experiences, attracting interest with similar offerings at physical places. For example, data released by the Entertainment Software Association, a US-based trade association for the gaming industry, reported that in February 2024, total video game sales jumped to $57.2 billion in 2023 from the $56.6 billion registered in 2022. This increase was mainly driven by a spike in video game content spending, which went up to $48.0 billion from 2022’s $47.5 billion. Hence, the rise in consumer expenditure on games and video content is spearheading the growth of the location-based entertainment market.
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Which Emerging Trends Are Transforming the Location-Based Entertainment Market in 2025?
Prominent businesses in the zone-based amusement market are concentrating on creating novel solutions like high-level virtual reality technologies to boost immersive experiences and draw a broader public. The use of virtual reality in location-based entertainment introduces immersive digital sceneries that participants can engage with in real spaces, uplifting the overall amusement experience. For instance, SoReal VR SuperSpace, a mesmerizing virtual reality experience, was launched by Shanghai Disney Resort, a theme park based in China, in its Disneytown’s shopping, dining, and entertainment area in September 2022, establishing the first-ever flagship store in Shanghai. This two-leveled venue comprises VR experiences on the ground floor and an immersive VR pathway on the first floor. This creative contribution by SoReal, a VR firm based in China, augments visitor interaction and entertainment alternatives within Disneytown.
What Are the Key Segments in the Location-Based Entertainment Market?
The location-based entertainment market covered in this report is segmented –
1) By Offerings: Hardware, Software, Services
2) By Technology: 2 Dimensional (2D), 3 Dimensional (3D), Cloud Merged Reality (CMR)
3) By End-Use: Amusement Parks, Arcade Studios, 4D Films
Subsegments:
1) By Hardware: Gaming Consoles, Virtual Reality (VR) Headsets, Augmented Reality (AR) Devices, Interactive Kiosks, Motion Tracking Equipment, Projection Equipment
2) By Software: Game Development Software, Simulation Software, VR Or AR Content Creation Software, Location-Based Game Applications, Analytics And Data Management Software
3) By Services: Game Hosting And Maintenance Services, Content Creation And Customization Services, Consulting And Integration Services, Customer Support And Technical Assistance, Installation And Setup Services
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Who Are the Key Players Shaping the Location-Based Entertainment Market’s Competitive Landscape?
Major companies operating in the location-based entertainment market are Google LLC, Samsung Electronics Co. Ltd., Microsoft Corporation, Meta Platforms Inc., Huawei Technologies Co. Ltd., The Walt Disney Company, Panasonic Corporation, Nvidia Corporation, Regal Entertainment Group, Unity Technologies Inc., AEON Fantasy Co. Ltd., Sony Interactive Entertainment LLC, Magic Leap Inc., HTC Corporation, Niantic Inc., Barron Games International LLC, Bob’s Space Racers Inc., HQ Software LLC, Habo Studio Inc., CamOnApp S.A., E-Learning Studios Ltd., SpringboardVR Inc., BidOn Games Studio LLC, VRstudios LLC
What Geographic Markets Are Powering Growth in the Location-Based Entertainment Market?
North America was the largest region in the location-based entertainment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the location-based entertainment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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