The Latin America, Middle East and Africa Location-based Entertainment Market would witness market growth of 31.8% CAGR during the forecast period (2022-2028).
Augmented reality is a superb tool for navigation in addition to its obvious entertainment value. It may be integrated into a more extensive AR navigation system designed for AR glasses, including real-time wait time updates and other helpful data. Similarly, using current consumer behavior to modularize and outsource certain on-site activities in theme parks would be fascinating by integrating on-demand services like Seamless.
The operators of theme parks will get invaluable data from IoT connections to help them better understand their visitors. For instance, Universal Parks recently announced it would connect sensors around the theme park that monitor variables like temperature, energy use, and asset location using a LoRaWAN-based wireless platform from its MachineQ IoT service. This will give operations managers more data and increase the park's efficiency daily. In addition, the implementation of IoT networks will benefit stake owners in OOH entertainment on a smaller scale, much as how they are an essential component of future smart cities.
Despite Dubai and Abu Dhabi's head start, the remainder of the Middle East may be the world's largest market for new themed entertainment, with audiovisual installations ready to assist. The International Association of Amusement Parks and Attractions named the Middle East and North Africa the fastest-growing theme park region in 2018. Leisure markets are the biggest in EMEA in the Middle East. The Saudi government's support for entertainment contributed to that expansion. In a bid to emulate Dubai and reduce oil dependence, Saudi Crown Prince Mohammed bin Salman has invested more than $60 billion in entertainment, including U.S. professional wrestling.
The Brazil market dominated the LAMEA Location-based Entertainment Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $269.4 Million by 2028. The Argentina market is exhibiting a CAGR of 32.5% during (2022 - 2028). Additionally, The UAE market would showcase a CAGR of 31.4% during (2022 - 2028).
Based on Technology, the market is segmented into 3 Dimensional (3D), Cloud Merged Reality and 2 Dimensional (2D). Based on Component, the market is segmented into Hardware and Software. Based on End-use, the market is segmented into Amusement Parks, Arcade Studios and 4D Films. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Location-based Entertainment Market is Predict to reach $14.3 Billion by 2028, at a CAGR of 28.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Walt Disney Company, Google LLC (Alphabet, Inc.), HTC Corporation, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Magic Leap, Inc., Microsoft Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Niantic, Inc., VRstudios, Inc. (FOD Capital, LLC), and KidZania S.A.P.I. de C.V.
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