The North America Location-based Entertainment Market would witness market growth of 27.8% CAGR during the forecast period (2022-2028).
Several governments encourage location-based entertainment. For instance, the ITA study said that through exporting materials to build amusement parks and related interests, the US government promotes location-based entertainment (LBE) and themed attractions. This includes backing for various service models, such as franchise, public, and private experience-driven activities. Requests for LBE services from individuals, companies, and consortiums with at least 51% U.S. content are acceptable.
Major firms are heavily spending on research and development to bring simulation technologies to market, like Reality Laboratories in Meta, HTC VIVE, Sony Interactive Environment, etc. In addition, businesses are looking at several projects to provide more entertaining ways to utilize shared social spaces and integrate people due to consumers' increasing tastes in out-of-home entertainment.
The US leads North American location-based entertainment and will continue to do so. The U.S. Department of Commerce's International Trade Administration actively encourages location-based entertainment (LBE) and themed attractions, including architecture/engineering, equipment, and items shipped for amusement parks and other attractions. They boost franchising, public, and private experience-driven service models. 51% of US content requests foreign LBE services from individuals, businesses, and consortiums. In addition, the US Embassies and Consulates worldwide have LBE industry support employees. These elements boost the location-based entertainment business enormously.
The US market dominated the North America Location-based Entertainment Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,713.9 Million by 2028. The Canada market is poised to grow at a CAGR of 30.3% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 30% 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 U.S., Mexico, Canada, and Rest of North America.
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.
By Technology
By Component
By End-use
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