Entertainment and amusement market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation

NEW YORK, Jan. 5, 2023 /PRNewswire/ — According to Technavio, the global entertainment and amusement market size is estimated to grow by USD 681.19 billion from 2022 to 2027. However, the growth momentum will decelerate at a CAGR of 5%. North America will account for 54% of the growth of the global market during the forecast period.

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Global entertainment and amusement market – Five forces

The global entertainment and amusement market is fragmented, and the five forces analysis covers –

• Bargaining power of buyers

• The threat of new entrants

• Threat of rivalry

• Bargaining power of suppliers

• Threat of substitutes

• For interpretation of Porter’s five forces model – buy the report!

Global entertainment and amusement market – Customer landscape

The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global entertainment and amusement market – Segmentation assessment

Segment overview

Technavio has segmented the market based on type (entertainment and amusement) and age group (13 to 20 years, above 20 years, and below 12 years).

• The entertainment segment will grow at a significant rate during the forecast period. The growth of this segment is attributed to factors such as the increasing number of gaming bars and cafes offering video games. Family entertainment centers offer a wide range of arcade games, AR and VR gaming zones, and physical gaming activities for groups of different ages. Improvements in gameplay design and consoles have increased the popularity of family entertainment centers globally In recent years, which is expected to boost the growth of the market during the forecast period.

Geography overview

Based on geography, the global entertainment and amusement market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global entertainment and amusement market.

Story continues

• North America is estimated to account for 54% of the growth of the global market during the forecast period. The growth is the regional market is attributed to factors such as the increasing spending on entertainment. In addition, the popularity of innovative rides, accommodation facilities, and merchandise in amusement parks is increasing among visitors of all age groups. Such factors will boost the regional market.

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Global entertainment and amusement market – Market dynamics

Key factor driving market growth

• The rapid growth of social media is notably driving the market growth.

• Visitors share their experiences, photos, and videos on social media platforms, which helps promote parks across the world.

• Social media posts encourage others to visit amusement and theme parks, which increases the number of visitors.

• Thus, the widespread use of social media is expected to fuel the growth of the market during the forecast period.

Leading trends influencing the market 

• Virtual theme parks are gaining traction, which is an emerging trend in the market.

• Innovations in virtual reality have changed the landscape of the amusement park industry. Theme parks are integrating VR into their existing attractions and are developing VR rides.

• VR tourism is influencing various aspects of marketing, thereby creating new opportunities for those interested in careers in the hospitality industry.

• During the forecast period, several virtual theme parks will be established.

• Such factors are expected to support the growth of the global market during the forecast period.

Major challenges hindering market growth

• High maintenance cost is challenging the market’s growth.

• Maintenance of an amusement park requires high investments.

• Amusement parks need regular maintenance to operate optimally and limit liability for park-related accidents.

• Thus, proper maintenance management at rides or shows is required to ensure visitor satisfaction and safety.

• These factors may challenge the growth of the market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find some insights from a sample report!

What are the key data covered in this entertainment and amusement market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the entertainment and amusement market between 2023 and 2027

• Precise estimation of the size of the entertainment and amusement market and its contribution to the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the entertainment and amusement market across North America, Europe, APAC, South America, and Middle East and Africa

• A thorough analysis of the market’s competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of entertainment and amusement market vendors

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Related Reports:

The family entertainment center market size is expected to increase by USD 21.05 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 12.29%. This report extensively covers segmentation by application (arcade studios, physical play activities, skill/competition games, and AR and VR gaming zones) and geography (North America, Europe, APAC, South America, and Middle East and Africa).

The growth momentum of the amusement park market will accelerate at a CAGR of 3.18%, and the market share will increase to USD 9.97 billion from 2021 to 2026. This report extensively covers market segmentation by type (tickets, hospitality, merchandising, and others) and geography (North America, APAC, Europe, South America, and Middle East and Africa).

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Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Type

7 Market Segmentation by Age Group

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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