Global Location-Based Entertainment (LBE) Market Size Projected to Cross USD 26,555.26 Million By 2032, at 26.7% CAGR Increase: Polaris Market Research
Polaris Market Research conducted a comprehensive research study spanning over [+115] pages, revealing that the global location-based entertainment market size/share is expected to reach USD 3,158.42 Million in 2022. The study further indicates that the market will grow at a compound annual growth rate (CAGR) of 26.7% and is projected to touch USD 26,555.26 Million By 2032. The hardware segment has emerged as the dominant player in the LBE market, with high demand for advanced technologies such as VR and AR. Some of the major players are Hologate, Sandbox VR, Zero Latency, Spaces, IMAX Corporation, HTC Corporation, Sony Corporation, Facebook Technologies, Ubisoft Entertainment and others.
New York, NY, June 19, 2023 (GLOBE NEWSWIRE) — Polaris Market Research has published a new research report titled “Location-based Entertainment Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware, Software); By Technology; By End-use; By Region; Segment Forecast, 2023-2032” in its research database.
“As per the latest research analysis, the global location-based entertainment (LBE) market size/share will be valued at roughly USD 3,158.42 million in 2022, and its revenue is projected to reach about USD 26,555.26 Million By 2032. The market is forecasted to expand at a compound annual growth rate of approximately 26.7% between 2023 and 2032.”
What is Location-Based Entertainment (LBE)? How Big is the Size of the Location-Based Entertainment (LBE) Market?
Location-based entertainment (LBE), also called out-of-home entertainment or interactive multi-player entertainment, refers to any entertainment that enables users to interact and share experiences with others outside the home. As the name suggests, LBE combines elements of entertainment, technology, and physical space that consumers visit to create a truly immersive environment that cannot be replicated at home or through traditional media. They are created for physical locations, such as amusement parks, arcades, virtual reality (VR) centers, and interactive museums.
Examples of location-based entertainment experiences include advanced technologies such as virtual reality (VR), augmented reality (AR), projection mapping, motion tracking, or interactive installations. LBE aims to create memorable experiences that cannot be reproduced at home or on the internet. Growing demand for immersive video content and games at LBE sites is driving the location-based entertainment market size growth. Advancements in VFX, such as sensory stimulus & tactile elements, are projected to fuel the market growth.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Players Are:
- Sandbox VR
- Zero Latency
- IMAX Corporation
- HTC Corporation
- Sony Corporation
- Facebook Technologies
- Ubisoft Entertainment
- The VOID
- Samsung Electronics
- Merlin Entertainments
- Dave & Buster’s
To Know an Additional List of Key Players, Request Here to Download a Free Report PDF Brochure: https://www.polarismarketresearch.com/industry-analysis/location-based-entertainment-market/request-for-sample
Prominent Growth Driving Factors
- Growing technological advancements: Rising shift towards technology-driven initiatives in the gaming sector is one of the major factors fueling the location-based entertainment market sales. This trend has resulted in mergers and acquisitions between video game creators and LBE technology suppliers, as well as investments by smaller enterprises in the LBE market.
- Enhancing offline shopping: As e-commerce grows in popularity, offline shopping malls are looking for innovative ways to engage customers and create unique experiences that are not available online. One of the strategies they are adopting is incorporating location-based entertainment (LBE) within their premises.
- Experiential entertainment: The increasing demand for experiential entertainment majorly boosts the location-based entertainment market. The demand for distinct and memorable experiences that cannot be replicated in the comfort of one’s home is growing among consumers. This has resulted in the creation of LBE venues that provide interactive and engaging experiences, such as virtual reality (VR) and augmented reality (AR) attractions.
- Leveraging e-sports and competitive gaming: The rise of e-sports and competitive gaming events has opened up new opportunities for location-based entertainment (LBE) venues to attract a dedicated customer base. LBE venues are physical locations that offer interactive and immersive experiences to visitors.
Top Report Findings
- Rapid adoption of immersive video content and video games at location-based entertainment sites as well as rising technological developments such as Augmented Reality (AR), VR, Mixed Reality (MR), and 3D projection mapping, are propelling the location-based entertainment market growth.
- The market is segmented based on component, technology, end-user, and region.
- Asia Pacific accounted for the largest CAGR in 2022
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Top Trends Influencing the Market
- In April 2022, Glytch, a leading professional e-sports stadium firm that provides cutting-edge e-sports event venues, formed a strategic alliance with Legends, a renowned worldwide experiences company, and premier sports and entertainment venue and attractions operator. The alliance seeks to use both firms’ strengths to create immersive and engaging experiences for players, fans, and partners.
- Tourism and travel trends, as well as social media and word-of-mouth marketing, all have a significant impact on the LBE industry. Local Business Enterprises (LBEs) often rely on social media and word-of-mouth marketing to attract customers and stay competitive in today’s digital landscape. These are some of the key location-based entertainment market trends influencing its growth.
- The hardware segment registered the major location-based entertainment market share in 2022
By component, the hardware category witnessed the largest revenue share in 2022 owing to the continuous developments in Virtual Reality and Augmented Reality devices. These VR-based hardware devices provide viewers with an immersive experience at LBE centers at a lower cost while also producing memorable memories. Furthermore, the increased use of VR headsets by LBE providers implies tremendous development potential for the industry.
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Location-Based Entertainment (LBE) Market: Report Scope & Segmentation
|Revenue Forecast in 2032||USD 26,555.26 Million|
|Market size value in 2023||USD 3,158.42 Million|
|Expected CAGR Growth||26.7% from 2023– 2032|
|Forecast Year||2023 – 2032|
|Top Market Players||Hologate, Sandbox VR, Zero Latency, Spaces, HTC Corporation, Sony Corporation, Facebook Technologies LLC, Ubisoft Entertainment SA, The VOID LLC, IMAX Corporation, Samsung Electronics Co. Ltd., Google LLC, Merlin Entertainments plc, and Dave & Buster’s Entertainment Inc|
|Segments Covered||By Component, By Technology, By End-use, By Region|
|Customization Options||Customized purchase options are available to meet any research needs. Explore customized purchase options|
Asia Pacific: The region captured the largest Compound Annual Growth Rate (CAGR) in 2022 due to the consumers’ increasing desire for outdoor recreational activities, which has produced a favorable market climate for the Location-Based Entertainment (LBE) business. Furthermore, the region’s status as a center for premier virtual reality software and hardware firms has created new commercial opportunities for LBE initiatives.
North America: Location-based entertainment market in North America holds the majority of the worldwide market. It is expected to develop significantly during the forecast period, owing to increased awareness of new technologies and the quick acceptance of LBE. North America is home to numerous key market participants, and the successful use of LBE across various applications in the media and gaming industries contributes to the growth of the regional market.
Browse the Detail Report “Location-based Entertainment Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware, Software); By Technology; By End-use; By Region; Segment Forecast, 2023-2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/location-based-entertainment-market
For Additional Information OR Media Enquiry, Please Mail At: [email protected]
- In September 2020, VRstudios, Inc. established a new division named VRstudios Sports to develop a virtual reality (VR) platform that allows users to connect, socialize, and share their experiences in a virtual reality (VR) environment. VRstudios Sports allows users to enjoy VR-based games and experiences from the comfort of their own homes while being linked to an extended (LBE) facility.
Frequently Asked Questions
- Who are the crucial companies operating the market?
- What are the major industry norms influencing the development of the industry?
- Which is the most propelling country in the industry?
- Which application or product type will obtain progressive development possibilities during the forecast period?
- What is the expected growth rate of the market during the foreseen period?
Polaris Market Research has segmented the location-based entertainment market report based on component, technology, end-user, and region:
By Component Outlook
By Technology Outlook
- Dimensional (2D)
- 3 Dimensional (3D)
- Cloud Merged Reality
By End-use Outlook
- Amusement Parks
- Arcade Studios
- 4D films
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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