Published Date: 28-Feb-2023
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According to a new report, published by KBV research, The Global Location-based Entertainment Market size is expected to reach $14.3 billion by 2028, rising at a market growth of 28.5% CAGR during the forecast period.
The 3-Dimensional (3D) segment acquired maximum revenue share in the Global Location-based Entertainment Market by Technology in 2021 thereby, achieving a market value of $6.4 billion by 2028. The range of 3D technology use in LBE has substantially expanded due to significant advancements in 3D animation, 3D mapping, and other 3D technologies. For instance, 3D printing is rapidly growing in the film industry for various uses, such as producing animated movies and designing renowned costumes.
The Software segment is showcasing a CAGR of 29.2% during (2022 - 2028). In addition, the category is anticipated to develop as mobile gaming with VR headsets becomes increasingly popular. To meet the rising customer demand for premium immersive experiences, developers are incorporating 3D animation, guardian systems, gesture tracking, and 360-degree cameras.
The Amusement Parks segment is leading the Global Location-based Entertainment Market by End-use in 2021 thereby, achieving a market value of $6.1 billion by 2028. Due to the rising implementation of VR-based immersive technology in amusement parks to provide tourists with a realistic experience, the amusement parks category had the most significant. To further improve the experience for guests, they also provide several gaming-related activities using location-based VR.
The North America market dominated the Global Location-based Entertainment Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5.1 billion by 2028. The Europe market is exhibiting a CAGR of 27.9% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 29.1% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/location-based-entertainment-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
Unique Offerings from KBV Research
North America Location-based Entertainment Market size & Opportunities 2022-2028
Europe Location-based Entertainment Market & Growth Forecast 2022-2028
Asia Pacific Location-based Entertainment Market Share & Industry Outlook to 2028
LAMEA Location-based Entertainment Market Growth, Trends & Forecasts 2022-2028