The global location- based entertainment market size is expected to reach USD 26,555.26 million by 2032, according to a new study by Polaris Market Research. The report “Location- based Entertainment Market Share, Size, Trends, Industry Analysis Report, By component (Hardware, Software); By Technology; By End-use; By Region; Segment Forecast, 2024-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Location-based entertainment (LBE) market is experiencing steady growth due to multiple drivers. Increasing demand for unique and engaging experiences, particularly among younger generations, has led to a rise in immersive and interactive experiences. The availability of advanced technologies such as virtual reality, augmented reality, and 3D printing has also boosted the market's appeal. Moreover, the increasing number of amusement parks, shopping malls, and entertainment complexes offering LBE experiences has contributed to the market's expansion. Additionally, the market is benefiting from the growing disposable incomes of consumers in emerging economies.
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For instance, In January 2023, talks were underway between Apple & Walt Disney Company to create a virtual reality (VR) content platform for Apple's upcoming headset. The headset, jointly developed with Sony Group Corporation, is anticipated to have high-resolution displays and an augmented reality (AR) full-color pass-through feature.
Additionally, the growing disposable incomes of consumers in emerging economies have been a key driver of market growth. This has increased spending on leisure and entertainment activities, including LBE. The adoption of cloud-based services and new business models for LBE providers, such as revenue-sharing agreements, have also contributed to the market's growth. As a result, the location-based entertainment market is expected to continue its upward trajectory, driven by these and other factors.
Location- based entertainment Market Report Highlights
Polaris Market Research has segmented the location- based entertainment market report based on component, technology, end-use and region:
Location- based entertainment, Component Outlook (Revenue - USD Million, 2019 - 2032)
Location- based entertainment, Technology Outlook (Revenue - USD Million, 2019 - 2032)
Location- based entertainment, End-Use Outlook (Revenue - USD Million, 2019 - 2032)
Location- based entertainment, Regional Outlook (Revenue - USD Million, 2019 - 2032)