Global Family/Indoor Entertainment Centres Market:Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)
NEW YORK, Sept. 7, 2017 /PRNewswire/ -- Future Market Insights forecasts revenue from the Global Family/Indoor Entertainment Centres market to increase from about US$ 17 Bn in 2017 to about US$ 61 Bn by 2027 end, representing a CAGR of 13.3% from 2017 to 2027. This increasing revenue growth is attributed to the continuous launch of new FECs supporting sustained growth of this market.
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Diversified gaming and entertainment options available in FECs in North America supporting global market growth
With continuous innovations in technological aspects, family entertainment centres are offering a diversified range of gaming options for their customers. New technologies such as virtual reality gaming, 3D technology, etc. are trending and consumers are preferring 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 forecast period.
Rising preference for indoor entertainment fuelling the market growth of FECs
Indoor entertainment centres are increasingly preferred as entertainment and leisure options by families over outdoor entertainment centres in the North America region, in order to ensure that environmental factors and weather changes do not affect any fun time or experience of customers. Along with this, companies are offering food and other services at indoor entertainment centres under a single roof, which is another factor prompting customers to visit FECs and this factor is expected to drive growth of the FEC market in the North America region over the forecast period.
Increasing ticket prices hampering the market for family/indoor entertainment centres in North America
The North America region is currently facing stagnation in terms of income of the middle class population. This is expected to affect consumer spending on family entertainment centres. Ticket prices of entertainment centres is increasing constantly owing to various economic factors. Ticket prices also vary based on the location of the family entertainment centres, which is another factor hampering revenue growth of the FEC market over the forecast period.
Customer retention is becoming a challenging task for family entertainment centres
Family entertainment centres are facing challenges in attracting visitors on a repeating basis. Entertainment centres face this problem because they cannot make changes in their offerings constantly and immediately. This is due to significant investment required in changing the offerings. Also, FECs are unable change or set up new rides because of land and cost constraints. This is a major challenge responsible for significantly limiting revenue growth of FECs in the long run.
Global Family/Indoor Entertainment Centres Industry Analysis and Opportunity Assessment by FEC Type
In terms of value, the arcade studios segment is projected to be the most attractive segment in the global family/indoor entertainment centres market during the assessment period. VR gaming zones are expected to register moderate y-o-y growth rate throughout the forecast period. In terms of value, the VR gaming zones segment is expected to register a CAGR of 15.9% during the assessment period. In 2017, the arcade studios segment is estimated to be valued at US$ 6,081.9 Mn and is expected to witness a steady growth in terms of revenue throughout the period of forecast.With an increasing number of malls in various cities of North America, consumers visit these malls on weekends, usually for shopping and spending time at restaurants. The presence of entertainment centres at these malls allows customers to spend quality time with their family and friends, while playing games and other indoor sports. Hence, entertainment centres are becoming favourite hangout places for families with a combination of shopping, eating, and play area. Family entertainment centres are attracting families in large numbers, which is expected to positively impact revenue growth of the market.
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