The 2023 report on the “Family Entertainment Centers Market” presents a thorough and accurate examination of different factors pertaining to business expansion prospects, challenges, risk elements, and trends in all geographical regions. This report delivers current information on the most recent technological developments, along with SWOT and PESTLE analysis, and valuable insights on market size.
Global Family Entertainment Centers Market is valued approximately USD 23.0 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 10.2 % over the forecast period 2020-2027. Family/indoor entertainment centers (FECs) are entertainment zones or small amusement parks that engaged family in big and small cities. Family Entertainment Centers has various amusement options including video games, gaming consoles, arcades, children’s rides, soft play areas, redemption machines, indoor playground systems, skill-based machine games, and games based on virtual and augmented reality. FECs also host private celebrations such as corporate events and birthday parties which in result attracts huge customers.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The rising technological advancements in Family Entertainment Centers such as Augmented Reality (AR) and Virtual Reality (VR) games that are highly trending among adults drive the demand of the market. Also, increase in per-capita disposable income, expansion of commercial infrastructures and upsurge in the integration of food & beverages in the entertainment zones due to rising availability of different food options for kids as well as adults encourages the growth of Family Entertainment Centers Market. Furthermore, the rising advancements and other strategic alliance by market key players will create a lucrative demand for this market.
For instance: on 24th August 2018, KidZania Kuala Lumpur introduced KidZ & Tech 3.0., allows kids to interact with tools and programmes that utilize Artificial Intelligence (AI) and Robotics. This technology will provide smart learning to kids with an entertaining Emoji Scavenger Hunt activity, also enjoyed by whole family. However, high capital investments in establishing the FECs is the major factor restraining the growth of global Family Entertainment Centers market during the forecast period.
The regional analysis of global Family Entertainment Centers Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing adoption advanced technologies, well-established infrastructure and presence of key market players. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Dave & Buster’s
CEC Entertainment, Inc.
Cinergy Entertainment
KidZania
Scene 75 Entertainment Centers
The Walt Disney Company
Lucky Strike Entertainment
FunCity
Smaaash Entertainment Pvt. Ltd.
LEGOLAND Discovery Center
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Visitor Demographics:
Families with Children (0-8)
Families with Children (9-12)
Teenagers (13-19)
Young adults (20-25)
Adults (Ages 25+)
Facility Size:
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
10 to 30 acres
Over 30 acres
By Revenue Source:
Entry Fees & Ticket Sales
Food & Beverages
Merchandising
Advertisement
Others
By Application:
Arcade Studios
AR and VR Gaming Zones
Physical Play Activities
Skill/Competition Games
Others
By Type:
Children’s Entertainment Centers (CECs)
Children’s Edutainment Centers (CEDCs)
Adult Entertainment Centers (AECs)
Location-based VR Entertainment Centers (LBECs)
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Market Dynamics:
- Surging air traffic: As the global aviation industry continues to expand, there is a corresponding increase in market demand.
- Heightened emphasis on safety and reliability: The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
- Growing commitment to environmental sustainability: The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
- Escalating globalization: The growth of international trade and travel propels the demand for market solutions.
- Increasing desire for private air transportation: The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
- Expanding utilization of digital fuel management systems: The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
- Advancements in fuel cell technology: Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
- Mounting demand for air cargo transportation: The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
- Rising defense budgets: Governments worldwide are augmenting their defense spending, leading to heightened market demand.
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