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Family/Indoor Entertainment Centers Market Expected to Reach $69.55 Billion by 2030

 
2022
Family/Indoor Entertainment Centers Market

Report Code : A04780

quote the families with children (9-12) segment is expected to experience fastest growth in the coming years, as the families with children of age between 9 and 12 years are more focused on shaping their children’s future through numerous activities, whether it is fun or education quote

Pramod Borasi
Senior Research Analyst at Allied Market Research

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According to a recent report published by Allied Market Research, titled, Family/Indoor Entertainment Centers Market by Activity Area, Facility Size, Revenue Source, Type, and Visitor Demographics: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global family/indoor entertainment centers market size was valued at $25.14 billion in 2020, and is projected to reach $69.55 billion by 2030, growing at a CAGR of 10.9% from 2021 to 2030.

Family/indoor entertainment center (FEC) is a family-oriented entertainment zone located in the complex's interiors and specifically designed to entertain people of all ages. Traditional amusement parks charge significantly more per person than FECs, which are mostly located in city centers for local communities. Arcades, video games, machine games, soft play zones, kid's rides, and games based on AR & VR technologies and indoor playground setups are just some of the amusement possibilities available at FECs. FECs further offer group activities such as birthday parties or hosting business events in addition to family-oriented entertainment. Furthermore, the key factor that drives the growth of the family/indoor entertainment centers market includes favorable youth demographics and continuous launch of new FECs supporting family activities, F&B integration, and participatory play is boosting the growth of the global family/indoor entertainment centers market. In addition, increase in number of malls positively impacts the growth of the market. However, increase in ticket prices and rise in popularity of home and mobile gaming hamper the market growth. On the contrary, surge in investments in new games and attractions is expected to offer remunerative opportunities for expansion of the market during the forecast period.

Depending on facility size, the 1 To 10 acres segment holds the largest family/indoor entertainment centers market share of the market due to the presence of large number of FECs. FECs of such huge size are usually considered as theme parks or amusement parks. However, 10,001 to 20,000 sq ft segment is expected to grow at the highest rate during the forecast period, owing to rise in number of indoor family entertainment centers integrated with arcades, restaurants, and music.

Region wise, the family/indoor entertainment centers market was dominated by North America in 2020, and is expected to retain its position during the forecast period, owing to large-scale integrating of new technologies such as 3D technology and virtual reality gaming, which are trending, and consumers are preferring modern ways of entertainment over traditional entertainment options. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to consistently growing middle-class population and increase in disposable income.

The family/indoor entertainment centers industry has witnessed significant growth in the past few years; however, due to the outbreak of the COVID-19 pandemic, the market is projected to witness a sudden downfall in 2020. This is attributed to global fear of the virus and unprecedented travel restrictions, which has tremendously reduced the demand for travel services. The family/indoor entertainment centers industry is projected to prosper in the upcoming years after the recovery from the COVID-19 pandemic. Various tourism destinations across the Middle East, Asia-Pacific, Europe, and the U.S. have implemented restrictions since January 2020. In the wake of the COVID-19 virus outbreak in December 2019, the disease has spread to almost 180+ countries around the globe with the World Health Organization declaring it a public health emergency. The global pandemic has already starting adversely affecting the family/indoor entertainment centers market size. Owing to lockdown, countries across the world have imposed travel ban, which has resulted in a greater number of people claiming for cancelled holidays and family trips. This has resulted in negative impacting the growth of family/indoor entertainment centers.  

Key Findings Of The Study

  • By facility size, the 1 To 10 acres segment accounted for the largest family/indoor entertainment centers market share in 2020.
  • Region wise, North America generated highest revenue in 2020.
  • On the basis of visitor demographic, the teenagers (13-19) segmented generated the highest revenue in 2020.

The key players profiled in the family/indoor entertainment centers market analysis are Cinergy Entertainment Group, CEC Entertainment, Inc., Dave & Buster’s, Inc., Disney, Fun City, Funriders, KidZania, Lucky Strike Entertainment, Scene75 Entertainment Centers, and SMAAASH. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

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quote Family-Indoor Entertainment Centers Market by Activity Area (Arcade Studios, AR & VR Gaming Zones, Physical Play Activities, Skill/Competition Games, and Others), 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, and Over 30 Acres), Revenue Source (Entry Fees & Ticket Sales, Food & Beverages, Merchandising, Advertisement, and Others), Type (Children Entertainment Centers (CECs), Children Edutainment Centers (CEDCs), Adult Entertainment Centers (AECs), and Location-based VR Entertainment Centers (LBECs)), and Visitor Demographics (Families with Children (0-8), Families with Children (9-12), Teenagers (13-19), Young Adults (19-25), and Adults (Ages 25+)): Global Opportunity Analysis and Industry Forecast, 2021-2030 quote

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