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North America Family Entertainment Centers Market Expected to Reach $ 22.1 Billion by 2030

 

Report Code : A05970

quote the FECs market was dominated by the U.S. in 2020, and is expected to retain its position during the forecast period, owing to large-scale integration of new technologies such as 3D technology and VR gaming, which are trending, and consumers are preferring modern ways of entertainment over traditional entertainment options. quote

Rachita Rake
Research Analyst, ICT at Allied Market Research

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According to a recent report published by Allied Market Research, titled, “North America Family Entertainment Centers Market By Facility Size, Revenue Source, Application, Type, Visitor Demographics, and Country: Opportunity Analysis and Industry Forecast, 2021-2030,”

The North America Family entertainment centers market was valued at $9,165.43 million in 2020, and is projected to reach $22,189.41 million by 2030, registering a CAGR of 9.4% from 2021 to 2030.

Family entertainment centers (FEC) is a compact indoor/outdoor amusement park marketed for families with young children to teens, and are frequently wholly indoors or linked to a larger operation such as a theme park. It provides a wide range of recreational activities for people of all ages. FECs often serve subregional markets inside larger metropolitan areas and are smaller than full-scale amusement parks, having fewer attractions and a cheaper per-person per-hour cost to consumers than traditional amusement parks. Families prefer FECs over outdoor entertainment centers as a source of amusement and relaxation since external conditions and climatic change have no effect on the customers' enjoyment or experience.

Increase in youth demographics and continuous launch of new FECs supporting family activities, F&B integration, and participatory play boost the growth of the North America FECs market. In addition, increase in number of malls positively impacts the growth of the market. However, surge 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 and integration of new technologies such as virtual reality gaming and 3D technology are 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 market share, due to the presence of large number of FECs. FECs of such huge size are usually considered as theme parks or amusement parks. However, the 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 FECs integrated with arcades, restaurants, and music.

On the basis of revenue source, the entry fees & ticket sales segment dominated the North America family entertainment centers market. This is attributed to increase in number of innovative attractions such as buy-one-get-one as well as complimentary entries for cinema, carousel, haunted house, cyber world, archery, arcade, snooker center, bowling, splash pool, snow world, and thrill rides provided by FECs acts as the key driving force of the segment. In addition, lucrative offers provided by majority of FECs on booking bulk tickets attract many families, which fuels the growth of the segment. However, the foods & beverages segment is expected to witness highest growth rate during the forecast period, as variety of foods & beverages and special discounts on food & beverages along with complimentary items are provided by FECs in North America. In addition, the quality of food & beverages provide by FECs is one of the primary factors strengthening the growth of the market in North America.

The North America Family entertainment centers market was valued at $9,165.43 million in 2020, and is projected to reach $22,189.41 million by 2030, registering a CAGR of 9.4% from 2021 to 2030. The outbreak of COVID-19 is anticipated to have a negative impact on the growth of FECs market. This is attributed to lockdown by majority of the governments across the globe to prevent the spread of COVID-19. Moreover, this industry has been largely affected due to the outbreak of the COVID-19 pandemic, leading to economic instability. Almost 90–92% of destinations such as amusement park and arcades followed complete ban on dining at their restaurants. Furthermore, the policies such as stay home and quarantine led to sharp decline in revenue of FECs in North America.

With the outbreak of the pandemic as well as implementation of social distancing measures and lockdown, a majority of individuals that were now indefinitely stuck in their homes increased their dependence on digital and online resources for their various needs. In addition, the FECs were not prepared for the pandemic and were forced to shut down till the number of patients decreased. Furthermore, majority of the families were scared to go out of their home, risking the lives of their children, which, in turn, negatively impacted the market growth.

Key Findings Of The Study

  • By Facility Size, in 2020, the 1 To 10 Acres dominated the North America Family entertainment centers market size.
  • Depending on revenue source, the entry fees & ticket sales segment dominated the North America family entertainment centers industry. However, the foods & beverages segment is expected to witness highest growth rate during the forecast period.
  • Depending on application, the arcade studios sales segment dominated the North America family entertainment centers market share in 2020. However, the AR & VR gaming zones segment is expected to witness highest growth rate during the forecast period.
  • By visitor demographics, in 2020, Teenagers (13–19) segment dominated the North America family entertainment centers market analysis in 2020.
  • Country wise, the U.S. dominated the North America FEC’s market share in 2020. However, Canada is expected to witness significant growth in the North America family entertainment centers market forecast.

Some of the key industry players profiled in the report include Bowlero, Cinergy Entertainment Group, CEC Entertainment, Inc., Dave & Buster’s, Inc., Disney, iPlay America, Main Event Entertainment, Scene75 Entertainment Centers, SeaWorld Entertainment, and White Hutchinson Leisure & Learning Group, Inc. This study includes market trends, North America FEC’s market analysis, and future estimations to determine the imminent investment pockets.

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quote North America Family Entertainment Centers Market by 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, 11 to 30 Acres, and Over 30 Acres), Revenue Source (Entry Fees & Ticket Sales, Food & Beverages, Merchandising, Advertisement, and Others), Application (Arcade Studios, AR & VR Gaming Zones, Physical Play Activities, Skill/Competition Games, and Others), Type (Children’s Entertainment Centers (CECs), Children’s Edutainment Centers (CEDCs), Adult Entertainment Centers (AECs), and Location-based VR Entertainment Centers (LBECs)), Visitor Demographics (Families with Children 0–8, Families with Children 9–12, Teenagers (13–19), Young Adults (20–25), and Adults (Ages 25+)): Opportunity Analysis and Industry Forecast, 2021–2030 quote

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