The industry is projected to reach $14.3 billion by 2028, at a CAGR of 28.5%

Location-Based Entertainment Market Size.jpg

DUBLIN, May 8, 2023 (GLOBE NEWSWIRE) — “Global Location-Based Entertainment Market Size, Share & Industry Trends Analysis Report, By Technology, By Component, By End Use, By Region Outlook and Forecast, 2022 – 2028” report added to ResearchAndMarkets.com’s supply.

The global location-based entertainment market size is expected to reach USD 14.3 billion by 2028, growing at a CAGR of 28.5% during the forecast period.

major market participants

• walt disney company

• Google LLC (Alphabet, Inc.)

• HTC

• Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)

• Magic Leap Company

• Microsoft Corporation

• Samsung Electronics Co., Ltd. (Samsung Group)

• Niantic Corporation

• VRstudios, Inc. (FOD Capital, LLC)

• KidZania SAPI de CV

Location-based entertainment is the destination that brings people together for shared activities, whether it’s friends, family or a community of caring brands eager to spend time together. It aims to connect real-life individuals so they can exchange experiences. Users using LBE can move freely and have physical contact with their surroundings, including truly portable props or equipment. LBE supports face-to-face interaction and experience sharing among users.

Any recreation associated with a specific location away from home is known as LBE. Licensed and brand-owned physical experiences in the LBE marketplace range from immersive cinemas and theme parks to virtual reality cafés and pop-up stores. Location-Based Entertainment (LBE) is also known as an interactive multiplayer entertainment center or “outdoor entertainment.” ‘LBE generally refers to any recreation associated with a specific location outside the home.

Using the engagement and technology axes, immersive LBE experiences can be further divided into these two categories. Rather than being a set of distinct types, these axes make up a spectrum. The breadth of experience includes anything from very entertaining to deeply meditative. Technology may also be a part of it to varying degrees, from completely analog to almost completely digital. For example, a large entertainment center or amusement park can offer a variety of different experiences.

Customers are looking for one-of-a-kind experiences that will force them to leave their homes, learn new things, or just be amazed. Owners and operators of immersive LBEs must have a firm grasp of their target customers and markets to be successful. Ambitious providers should explore outside their field and draw inspiration from well-rounded successful immersive LBEs.

market growth factors

story continues

360-degree VR games are gaining popularity

VR game creation serves major global markets and has huge potential. With the development of virtual reality technology, Samsung Gear VR, Oculus VR and HTC Vive became popular. Virtual reality gadgets with tracking, sensory and manual controls make games fun and interactive. Hence, the number of virtual reality gaming companies is growing to meet the demand.

VR games allow players to experience their surroundings. Get the adrenaline pumping with immersive visuals and 360-degree video content. Players can customize the game environment using virtual reality controllers. VR improves shooters, sims, and adventure games. This supports the growth of the market.

AR/VR and 3d projection mapping will increase demand.

AR/VR games are the most popular games in the world. Several gaming companies are exploring new technologies to improve casino gaming. AR and VR combine with 3D projection mapping, interactive digital surfaces and other technologies to create new gaming technologies.

Home entertainment centers are upgrading their technology to offer more services over the internet and data rather than traditional gaming. Pure mapping software companies develop projection mapping technology to simplify project implementation and enhance audience viewing. Therefore, the location-based entertainment market will grow due to the technology mix in the entertainment industry.

market constraints

Health hazards of heavy use of VR headsets

VR headsets may emit electromagnetic frequency radiation. These gadgets connect to your smartphone or computer via Bluetooth or WiFi and contain smart sensors to immerse you in VR. VR headsets powered by smartphones emit radiation. Cell phone radiation may affect sleep, temperament and the reproductive system. VR headsets can connect wirelessly to WiFi and interact with smartphones, emitting radiation and causing long-term health problems.

area of ​​research

by technology

• 3-dimensional (3D)

• Cloud Fusion Reality

• two-dimensional (2D)

by component

by end use

• amusement park

• arcade studio

• 4D movie

For more information on this report, please visit https://www.researchandmarkets.com/r/380y4f

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