The development of artificial intelligence for family indoor entertainment centers is expected to provide opportunities for the market development during the forecast period.
NEW CASTLE, Del., Aug. 27, 2024 /PRNewswire/ — Allied Market Research has released a report titled, “FEC Market – By Activity Area (Arcade Studios, AR & VR Gaming Zone, Physical Play, Skill & Competitive Games, etc.), 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., 1-10 acres, 10-30 acres, More than 30 acres), Visitor Demographics (Families with Children Ages 0-9, Families with Children Ages 9-12, Teens Ages 12-18, Young Adults Ages 18-24, Adults Ages 24+).” “Revenue Source (Admission & Ticket Sales, Food & Beverage, Merchandising, Advertising, Others), Type (Children’s Entertainment Center (CEC), Children’s Edutainment Center (CEDC), Adult Entertainment Center (AEC), Location-Based VR Entertainment Center (LBEC)): Global Opportunity Analysis and Industry Forecast, 2024-2033”. According to the report, the family/indoor entertainment center market is valued at $30.8 billion in 2022, and is projected to grow at a CAGR of 12.1% from 2024 to 2033, reaching $108.4 billion by 2033.
Key Determinants of Growth
The global family/indoor entertainment center market is growing due to several factors such as increasing adoption of smartphones, growing adoption of cloud, etc. However, concerns regarding data security and privacy are restraining the family indoor entertainment center market.
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Report Scope and Details:
Report Scope
detail
Forecast Period
2024-2033
Base year
2022
Market size in 2023
$30.8 billion
Market size in 2032
$108.4 billion
Average annual growth rate
12.10%
Number of pages in the report
267
Target Segments
Area of operation, facility size, revenue sources, type, visitor demographics, and geography.
driver
Increased consumer spending on leisure and entertainment
Technological advances
Urbanization and demographic change
opportunity
Demand for family activities
Corporate and group events
Constraints
High operational costs
Seasonal variation and weather dependence
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The AR and VR gaming zone segment is expected to witness rapid growth throughout the forecast period.
Based on activity verticals, the physical play activities segment is projected to account for more than a quarter of the global family/indoor entertainment centers market share in 2022, and to maintain its top position during the forecast period. This is because traditional activities such as climbing walls, ball pits, and obstacle courses are extremely popular with families and children, offering hands-on fun that appeals to a wide range of age groups. These activities are here to stay and continue to attract a large number of visitors. However, the AR and VR gaming zones segment is expected to achieve the highest CAGR of 15.3% from 2024 to 2033, owing to its innovative and immersive experiences, and is projected to maintain its top position during the forecast period. With advancements in technology, these high-tech gaming zones offer exciting and interactive experiences that are becoming increasingly popular, driving rapid growth as more people seek cutting-edge entertainment options, thus fueling the segment’s growth in the market.
The 10,001 to 20,000 square feet segment is expected to witness rapid growth throughout the forecast period.
Based on facility size, the 1-10 acre segment is projected to account for more than a quarter of the global market share in 2022, and maintain its leading position during the forecast period. This is because these facilities offer ample space for various attractions and activities, including play zones, dining areas, and party rooms, making them popular with families seeking a comprehensive entertainment experience. This size range is ideal for operators to create a wide range of attractions while remaining manageable and affordable. However, the 10,001-20,000 square feet segment is expected to achieve the highest CAGR of 15.7% from 2024 to 2033, and is projected to maintain its leading position during the forecast period. This is because these facilities are large enough to offer diverse entertainment options, yet are smaller and more cost-effective than larger acre-sized centers. As operators and consumers seek more efficient and innovative utilization of space, this size range is becoming increasingly attractive for new developments and expansions, fueling the segment growth in the family/indoor entertainment center market.
Households with children ages 9-12 are expected to experience rapid growth throughout the forecast period.
In terms of visitor demographics, the teenagers (12-18 years) segment is projected to account for the highest market share in 2023 and maintain its leading position during the forecast period as these centers offer activities and attractions that are particularly appealing to this age group, such as advanced gaming zones, challenging obstacle courses, and social spaces. Teenagers often seek exciting and engaging experiences, which encourages their frequent visits and contributes to the strong market presence of this segment. However, the families with children (9-12 years) segment is expected to achieve the highest CAGR of 14.5% from 2024 to 2033 and is projected to maintain its leading position during the forecast period. This is due to the focus on providing a family-friendly environment for younger children. This age group is particularly valued as parents look for safe and fun places for their children to play and be active. As the demand for age-appropriate interactive experiences for children in this age group increases, more centers are adjusting their offerings to attract and retain this growing age group, which is driving the segment’s growth in the market.
The food and beverages sector is expected to grow rapidly throughout the forecast period.
By revenue source, the admission and ticket sales segment is projected to account for more than one-third of the global FEC market share in 2023 and maintain its leading position during the forecast period as these centers generate revenue primarily through admission fees. The model is simple and remains a stable source of revenue as families pay a fee to access the various attractions and activities available. However, the food and beverage segment is expected to achieve the highest CAGR of 14.2% from 2024 to 2033 and is projected to maintain its leading position during the forecast period as the focus on enhancing the overall visitor experience by offering a variety of dining options is driving it. As families spend more time at these centers, they seek convenient and enjoyable food and beverage options, increasing their spending at concession stands. This shift towards improved food and beverage services is driving the rapid growth of this revenue segment, fuelling its growth in the market.
The children’s entertainment centres (CEC) segment is expected to witness rapid growth throughout the forecast period.
By type, the children’s entertainment center (CEC) segment accounted for more than one-third of the global market share in 2022 and is expected to grow rapidly by 2033, and is projected to maintain its leading position during the forecast period owing to the wide range of popular activities such as play zones, games, and interactive experiences that attract many families. The focus on children’s entertainment ensures a considerable number of visitors and consistency. However, the location-based VR entertainment center (LBEC) segment is expected to achieve the highest CAGR of 15.7% from 2024 to 2033, owing to the growing popularity and advancements in virtual reality technology, and is projected to maintain its leading position during the forecast period. These centers offer a highly sought-after immersive and cutting-edge experience, especially as technology evolves and more people seek innovative and engaging entertainment, thus fueling the segment’s growth in the FEC market.
North America to maintain dominance through 2033
Region-wise, North America is expected to hold the highest market share in terms of revenue, accounting for more than a quarter of the global market share in 2023, and is expected to dominate by 2033, owing to well-developed infrastructure and high demand for diverse and advanced entertainment options. The region is home to a large number of large and popular centers catering to families. However, the office suites segment is expected to achieve the highest CAGR of 14.5% from 2024 to 2033, owing to rapid urbanization, rising disposable income, and a rise in the middle class in countries such as China and India, and is projected to maintain its leading position during the forecast period. The market for family/indoor entertainment centers is expanding rapidly in this region as more families seek new and innovative entertainment experiences, driving the growth of the FEC market.
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Key Industry Players:-
CEC Entertainment Concepts, L.P. Synergy Entertainment Group, Landmark Leisure LLC (Fun City), FunRiders, KidZania, Dave & Buster’s, Inc., Lucky Strike Entertainment, Scene 75 Entertainment Centers, Smash, Timezone Global
This report provides a detailed analysis of these key players in the global family indoor entertainment center market. These players have adopted various strategies such as new product launches, collaborations, expansions, joint ventures, and agreements to increase their market share and maintain a dominant share in various regions. The report helps in highlighting the business performance, operating segments, product portfolios, strategic moves of the family/indoor entertainment center market players and introduces the competitive scenario.
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