PORTLAND, Oregon, Dec. 3, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Children Entertainment Centers Market by Visitor Demographics (Families with Children (0-9), Families with Children (9-12), Teenagers (12-18), Young Adults (18-24), Adults (Ages 24+)), 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), and Activity Area (Arcade Studios, AR and VR gaming Zones, Physical Play Activities, Skill/Competition Games, and Others)): Global Opportunity Analysis and Industry Forecast, 2019-2026." According to the report, the global children entertainment centers industry garnered $8.15 billion in 2018, and is estimated to reach $15.37 billion by 2026, growing at a CAGR of 8.4% from 2019 to 2026.
Prime determinants of growth
Rise in number of malls, favorable youth demographics, and continuous launch of new entertainment centers supporting family activities, F&B integration, and participatory play drive the growth of the global children entertainment centers market. However, rise in ticket price, and increase in popularity of home and mobile gaming impede the market growth. On the other hand, rise in investments in new games and attractions creates new opportunity in the market.
The teenager (12–18) segment to continue its dominance throughout the forecast period
Based on visitor's demographics, the teenagers (12–18) segment contributed more than two-fifths of the total share in terms of revenue of the global children entertainment centers market in 2018. This is due to surge in disposable income of parents and the need to spend quality time with their kids. However, the families with children (9–12) segment would grow at the fastest CAGR of 10.9% from 2019 to 2026. This is due to increase in demand for recreational activity areas among parents with children of age group 9 to 12.
The arcade studios segment to maintain its dominant position during the forecast period
Based on activity area, the arcade studios segment held the highest market share of the global children entertainment centers market, accounting for nearly one-third of the total market share in 2018, and will maintain its dominant position during the forecast period. This is due to the compact size of arcade studios and their easy installation especially in individual stores. However, AR and VR gaming zone segment is expected to register the fastest CAGR of 11.7% from 2019 to 2026. This is attributed to increase in adoption of VR headsets among entertainment centers.
North America to held the lion's share during the forecast period
Based on region, North America accounted for the largest share in terms of revenue, contributing to more than one-third of the global children entertainment centers market in 2018, and is expected to maintain its lead status by 2026. This is due to high preferences of consumers towards entertainment facilities in this region. On the other hand, Asia-Pacific is estimated to grow at the fastest CAGR of 10.3% from 2019 to 2026. This is due to rise in integration of entertainment centers in malls in the region.
Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1(855)550-5975 [email protected] Web: https://www.alliedmarketresearch.com