Future Market Insights has forecast that global indoor entertainment centres revenue will increase from about US$17bn in 2017 to about US$61bn by 2027.
This represents a compound annual growth rate of 13.3 per cent. The research company attributes this increasing revenue growth to the continuous launch of new family entertainment centres supporting sustained growth in this market.
The report said that with technological advances happening in the sector more frequently, a diversity of these activities is what will drive the industry forward.
It said that new technologies such as virtual reality gaming and 3D technology are trending and consumers prefer modern ways of entertainment over traditional entertainment options. Hence, the availability of a number of options for gaming is driving the growth of the family entertainment centres market, especially in the North America region over the forecasted period.
In terms of value, it said the VR gaming zones segment is expected to register a CAGR of 15.9 per cent during the period. In 2017; the arcade studios segment is estimated to be valued at US$6,081.9m and is expected to witness a steady growth in terms of revenue throughout the forecasted timeline.
It noted a marked migration in North America from outdoor entertainment to indoor, owing to the peace of mind offered by knowing weather changes won’t interrupt play.
The report identified sites not being able to adapt attractions continuously as a major challenge in retaining customers, due to the significant investment required in changing the offerings.
