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Entertainment and Amusement Market 2023-2027: A Descriptive Analysis of the Five Forces Model, Market Dynamics and Segmentation

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

Technavio has announced its latest market research report titled Global Entertainment and Amusement Market 2023-2027

Technavio has announced its latest market research report titled Global Entertainment and Amusement Market 2023-2027

For more information on market size, request a sample report

Global Entertainment and Amusement Market – Five Forces

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

  • The bargaining power of buyers

  • The threat of new entrants

  • Threat of rivalry

  • Bargaining power of suppliers

  • The threat of substitutes

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

Global Entertainment and Amusement Market – Customer Landscape

The report includes the market adoption lifecycle, from innovator to laggard. It focuses on adoption rates in different regions based on penetration. In addition, the report also includes key purchase criteria and price sensitivity factors to help companies assess and develop their growth strategies.

Global Entertainment and Amusement Market – Segmentation Assessment

Overview of segments

Technavio has segmented the market based on type (entertainment and entertainment) and age range (13-20, 20+, and 12-under).

  • 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 growing number of bars and cafes offering video games. Family entertainment centers offer a wide range of arcade games, AR and VR gaming areas, and physical play activities for different age groups. Improvements in gameplay design and consoles have increased the popularity of family entertainment centers globally over the past few years, which is expected to boost the market growth over the forecast period.

Geographic overview

Based on geography, the global entertainment and amusement market is segmented into North America, EuropeACPA, South Americaand 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.

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

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Global entertainment and amusement marketMarket dynamics

Key driver of market growth

  • the rapid growth of social media is the main driver of market growth.

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

  • Social media posts encourage others to visit amusement and theme parks, increasing visitor numbers.

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

Main trends influencing the market

  • Virtual theme parks are gaining groundwhich is an emerging trend in the market.

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

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

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

  • These factors are expected to support the growth of the global market over the forecast period.

Major challenges hampering the growth of the market

  • High maintenance cost challenges market growth.

  • The maintenance of an amusement park requires significant investments.

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

  • Thus, good management of the maintenance of rides or shows is necessary to ensure the satisfaction and safety of visitors.

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

Drivers, trends, and challenges impact market dynamics, which can impact businesses. Discover some ideas from a sample report!

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

  • CAGR of the market over the forecast period

  • Detailed information on the factors that will drive the growth of the Entertainment and Amusement Market between 2023 and 2027

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

  • Accurate predictions on upcoming trends and changes in consumer behavior

  • Growth of the entertainment and amusement market through North America, EuropeACPA, South Americaand Middle East and Africa

  • An in-depth analysis of the market competitive landscape and detailed vendor information

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

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Related reports:

the family entertainment center market the size should increase by $21.05 billion from 2021 to 2026, and the growth momentum of the market will accelerate at a CAGR of 12.29%. This report covers in detail segmentation by Application (Arcade Studios, Physical Gaming Activities, Skill/Competition Games, and AR and VR Gaming Areas) and Geography (North America, EuropeACPA, South Americaand Middle East and Africa).

The growth dynamics of amusement park market will accelerate to a CAGR of 3.18%, and the market share will increase to $9.97 billion from 2021 to 2026. This report extensively covers market segmentation by Type (Tickets, Hospitality, Merchandising and Others) and by Geography (North AmericaACPA, Europe, South Americaand Middle East and Africa).

Entertainment and Amusement Market Scope

Report cover

Details

Page number

148

base year

2022

Historical period

2017-2021

Forecast period

2023-2027

Growth momentum and CAGR

Decelerate at 5% CAGR

Market Growth 2023-2027

$681.19 billion

Market structure

Fragmented

Annual growth 2022-2023 (%)

6.0

Regional analysis

North America, Europe, APAC, South America, Middle East and Africa

Successful market contribution

North America at 54%

Key countries

United States, China, Japan, Germany and United Kingdom

Competitive landscape

Major Vendors, Vendor Market Positioning, Competitive Strategies and Industry Risks

Profiled Key Companies

Al Hokair Entertainment, Aspro Parks SA, CEDAR FAIR LP, Chimelong Group Co. Ltd., Compagnie des Alpes, Entertainment Plus Production, Fakieh Hospitality & Leisure Group, IMG Artists, Irque du Soleil Entertainment Group, Merlin Entertainments Group Ltd., PARQUES REUNIDOS SERVICIOS CENTRALES SA, SeaWorld Entertainment Inc., Six Flags Entertainment Corp., The Mousetrap, The Rocky Horror Show, The Walt Disney Co., Timezone Entertainment Pvt. Ltd., Universal Studios Recreation Group, Untamed Entertainment and Wonderla Amusement Park

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID-19 Impact and Recovery Analysis and Future Consumer Dynamics, and Status Analysis of the market for the forecast period

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Explore Technavio’s Consumer Discretionary Market Reports

Contents

1. Summary

2 Market landscape

3 Market sizing

4 Historical 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 Supplier landscape

12 Vendor Analysis

13 Appendix

About Us

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

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Email: media@technavio.com
Website: www.technavio.com/

Global entertainment and entertainment market 2023-2027

Global entertainment and entertainment market 2023-2027

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