North America Location-Based Entertainment Market Growth and Trends (2022-2028)
Market Overview
The North America location-based entertainment (LBE) market is projected to grow significantly, increasing from US$ 581.20 million in 2022 to US$ 1,137.55 million by 2028, at a CAGR of 11.8% during the forecast period. The market is expanding due to technological advancements in virtual reality (VR) and increasing investments in immersive entertainment experiences.
Key Growth Factors
Rise of 360-Degree VR-Based Games
The development of 360-degree VR technology is a major factor contributing to the LBE market’s expansion. VR-based games with immersive 360-degree content enhance user experience, attracting more consumers to the industry. This demand has led to collaborations between key players and technology providers to enhance LBE technology.
- In September 2019, TacHammer, StrikerVR, Inc., and Nanoport Technology Inc. partnered to develop Linear Magnetic Ram (LMR) haptic technology, introducing Arena Infinity LITE VR for a more realistic VR experience.
- The increasing adoption of VR headsets and accessories from manufacturers such as Oculus VR, Sony, Samsung, and Google is transforming the market.
- The decreasing cost of VR hardware components, such as joysticks and headsets, is expected to further boost accessibility and market penetration.
Market Segmentation
The North America LBE market is segmented based on component, technology, end-use, and country.
By Component:
- Hardware (dominant segment in 2022)
- Software
By Technology:
- 3-Dimensional (3D) (larger market share in 2022)
- 2-Dimensional (2D)
By End-Use:
- Amusement Parks (largest segment in 2022)
- Arcade Studios
- Film Studios
By Country:
- United States (largest market in 2022)
- Canada
- Mexico
Regional Market Insights
North America is a prime market for location-based entertainment due to its numerous theme parks, film studios, and amusement centers. The region boasts over 400 theme parks, including Disneyland in California, one of the most renowned LBE destinations.
- Warner Bros. Discovery announced the Wizarding World Festival in September 2022, set for 2023 in partnership with Superfly X and Fever.
- Government support for LBE expansion includes investments in theme parks and amusement attractions through the export of machinery, architecture, and engineering services.
- Mattel and Epic Resort Destinations revealed plans to open Mattel Adventure Park in 2023 in Glendale, Arizona, featuring attractions like Barbie Flying Theater.
- Eon Reality established Realidad Zero VR center in Mexico, contributing to the regionโs expanding VR entertainment sector.
Leading Companies in the North America LBE Market
Key players driving innovation and expansion in the market include:
- BidOnGamesStudio
- Dimension
- HQSoftware
- IMAX Corporation
- Neurogaming Ltd
- SpringboardVR
- Samsung Electronics Co., Ltd.
- Vicon Motion Systems Ltd
- VRstudios, Inc.
Future Outlook
The North America LBE market is expected to witness continuous growth due to the rapid evolution of immersive entertainment technologies and increasing investments in VR, AR, and AI-driven gaming experiences. As companies expand their presence in the amusement and film industry, the sector will remain a key driver of the regional entertainment market.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐
๐๐ซ๐จ๐๐ก๐ฎ๐ซ๐ – https://www.businessmarketinsights.com/sample/BMIRE00027638
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Dรฉfense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications Authorโs Bio:
Akshay
Senior Market Research Expert at Business Market Insights
