The Europe Location-based Entertainment Market would witness market growth of 27.9% CAGR during the forecast period (2022-2028).
The market's main drivers are the growing population's expenditure on outdoor activities and the usage of 3D technology at entertainment venues that provide a lifelike experience. However, it presents a challenging issue for market players due to the high cost of content creation. The lines between the online and real worlds for contemporary consumers are almost nonexistent. Their tastes and purchasing behaviors are fueled by the brands, personalities, and information they consume online and offline.
Brands may use this trend by promoting their brand identity or joining up with a well-known property via a licensing arrangement. Including a well-known figure or subject in a venue's entertainment options increases customer knowledge and attachment. Moreover, adding beloved characters, artwork, and design may make an experience more shareable online. Today's word-of-mouth marketing is fans posting about their experiences on social media.
Western Europe as a whole is working less and relaxing more. Germans work 18.6 hours a week after unemployment and holidays. Europe's leisure time has increased dramatically. Several industry experts think VR is the future of thrill-seeking entertainment. VR theme parks and amusement parks are not the only industries using it. Travel companies, shopping malls, and clothes merchants utilize VR to entice travelers. Consequently, the growing sociability and work-life balance trend encouraged individuals to spend their leisure time, driving the European location-based entertainment market.
The Germany market dominated the Europe Location-based Entertainment Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $969.2 Million by 2028. The UK market is anticipated to grow at a CAGR of 26.9% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 28.9% during (2022 - 2028).
Based on Technology, the market is segmented into 3 Dimensional (3D), Cloud Merged Reality and 2 Dimensional (2D). Based on Component, the market is segmented into Hardware and Software. Based on End-use, the market is segmented into Amusement Parks, Arcade Studios and 4D Films. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Location-based Entertainment Market will Hit $14.3 Billion by 2028, at a CAGR of 28.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Walt Disney Company, Google LLC (Alphabet, Inc.), HTC Corporation, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Magic Leap, Inc., Microsoft Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Niantic, Inc., VRstudios, Inc. (FOD Capital, LLC), and KidZania S.A.P.I. de C.V.
By Technology
By Component
By End-use
By Country
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