Chicago, May 31, 2024 (GLOBE NEWSWIRE) — The Location Based Entertainment Market is estimated at USD 3.5 billion in 2023 and is projected to reach USD 11.8 billion by 2028, at a CAGR of 27.3% from 2023 to 2028, according to a new report by MarketsandMarkets™.
The demand for advanced technologies like augmented reality (AR), virtual reality (VR), mixed reality (MR), etc. to drive the growth of the location based entertainment market.
Browse in-depth TOC on “Location Based Entertainment Market“
234 – Tables
44 – Figures
240 – Pages
Download Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=9392821
Location Based Entertainment Market Dynamics:
Drivers:
Restraints:
Opportunities:
List of Key Players in Location Based Entertainment Market:
-
Google (US)
-
Meta (US)
-
Microsoft (US)
-
Nvidia (US)
-
Unity Technologies (US)
-
Sony Interactive Entertainment (US)
-
Samsung (South Korea)
-
Barco Electronic Systems (Belgium)
-
Panasonic (Japan)
-
Huawei Technologies (China)
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=9392821
Location based entertainment pertains to a category of entertainment that transpires in a designated physical space or setting, such as amusement parks, galleries, game arcades, and other entertainment facilities. LBE experiences usually involve active participation and immersion, incorporating cutting-edge technologies such as virtual reality (VR), augmented reality (AR), mixed reality (MR), and other sensory effects to augment the overall experience.
Based on technology, the augmented reality segment is expected to grow with the highest CAGR during the forecast period.
Augmented Reality (AR) technology has become a popular choice in location based entertainment due to its ability to create immersive and interactive experiences for users. In location based entertainment settings, users typically wear AR headsets or use mobile devices to overlay virtual elements onto the real world environment. This results in a dynamic and unique experience that captivates users. AR technology can be utilized in several ways in location based entertainment settings, such as interactive gaming, enhancing museum and exhibition experiences, creating interactive tours, and offering engaging training and educational experiences.
Based on offerings, the hardware segment to hold the largest market size during the forecast period.
The various offerings of location based entertainment work together to create immersive and engaging experiences for visitors. Hardware technology plays a crucial role in creating engaging and immersive experiences in location based entertainment. By using hardware such as VR/AR headsets, motion platforms, interactive screens, projection mapping, and high-quality audio equipment, location based entertainment operators can create unique and unforgettable experiences for visitors. Overall, these hardware technologies can enhance the immersive and interactive nature of location based entertainment experiences, making them more appealing to visitors and increasing revenue for location based entertainment operators.
Based on venue, the amusement parks segment to hold the largest market size during the forecast period.
Location based entertainment and amusement parks are closely related, as amusement parks are a popular form of location based entertainment. Amusement parks are important in location based entertainment as they offer visitors immersive and engaging experiences through a range of entertainment options, including rides, games, and attractions. Amusement parks often have a central theme or story, providing a cohesive environment for visitors to enjoy. As technology continues to advance, amusement parks are expected to continue providing visitors with innovative and engaging experiences.
Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=9392821
Based on region, Asia Pacific is expected to grow with the highest CAGR during the forecast period.
The location based entertainment market in Asia Pacific is considered to record the highest CAGR due to many factors, such as progressive and dynamic adoption of new technologies, rising standard of livings and increasing spend of consumers on leisure and entertainment activities, increasing tourism industry, rising disposable income, etc. The countries in Asia Pacific have been extremely focused on developing advanced technologies for location based entertainment solutions. The location-based entertainment market in Asia Pacific is a growing industry with a wide range of opportunities for international and regional players and is driven by rising disposable income, changing consumer preferences, and technological advancements. The governments in the region are also focusing on this market, thus being a significant contributor to the investments required for these advanced technologies like AR, VR and MR.
Browse Adjacent Markets: Smart Infrastructure Market Research Reports & Consulting
Related Reports:
Smart Learning Market – Global Forecast to 2029
Railway Management System Market – Global Forecast to 2029
Smart Water Management Market – Global Forecast to 2028
Parking Management Market – Global Forecast to 2028
Smart Transportation Market – Global Forecast to 2028
Get access to the latest updates on Location Based Entertainment Companies and Location Based Entertainment Industry
CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com
