Location Based Entertainment Market

Location Based Entertainment Market worth $11.8 billion by 2028

According to a research report "Location Based Entertainment (LBE) Market by Technology (Virtual Reality (VR), Augmented Reality (AR), Projection Mapping), Offering (Hardware, Software, Services), Venue (Amusement Parks, Theme Parks, Arcades) and Region - Global Forecast to 2028" published by MarketsandMarkets, the location based entertainment market size is projected to grow from USD 3.5 billion in 2023 to USD 11.8 billion by 2028, at a CAGR of 27.3% during the forecast period. With the growing advancements in virtual reality (VR) and augmented reality (AR) technologies, VR gaming, the increasing demand for social and shared experiences and integration of artificial intelligence (AI) and machine learning (ML) technologies has led to growth of the location based entertainment market.

Browse 234 market data Tables and 44 Figures spread through 240 Pages and in-depth TOC on "Location Based Entertainment (LBE) Market by Technology (Virtual Reality (VR), Augmented Reality (AR), Projection Mapping), Offering (Hardware, Software, Services), Venue (Amusement Parks, Theme Parks, Arcades) and Region - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/location-based-entertainment-market-9392821.html

By technology, the augmented reality segment is expected to have the largest market share during the forecast period.

AR technology has the potential to revolutionize location based entertainment experiences by providing users with a level of immersion and interactivity that is not feasible in traditional entertainment. To create an augmented reality (AR) experience in a location based entertainment setting, several technical components are necessary. These include an AR headset or mobile device equipped with a camera, sensors, and a display to view the AR content, AR software that uses 3D modeling, animation, and computer vision algorithms to detect and track real-world objects and content that is rendered and overlaid onto the real-world environment in real-time. As AR technology advances, we can expect even more innovative uses of it in location based entertainment settings.

By offerings, the hardware segment is expected to grow with the highest CAGR during the forecast period.

By investing in high-quality hardware, location based entertainment operators can create experiences that are both memorable and profitable. Using hardware like VR/AR headsets, it can transport visitors to virtual worlds, while motion platforms can simulate realistic movement sensations, such as a rollercoaster ride or a flight. Interactive screens can create engaging displays that respond to visitor movements and gestures, while projection mapping can transform physical spaces into interactive environments. Additionally, high-quality audio equipment can provide visitors with a 360-degree sound experience, making them feel like they are part of the action.

By venue, the arcades segment is expected to grow with the highest CAGR during the forecast period.

Arcades are a form of location based entertainment that has been popular for decades and typically offer a range of electronic games and machines. The Arcades are an example of location based entertainment, where visitors can enjoy a variety of electronic games that often incorporate technology, including motion controls, augmented reality, and virtual reality. One of the unique features of arcades as location based entertainment is their focus on social interaction. As technology continues to develop, we can expect to see even more innovative uses of location based entertainment software and hardware in arcades and other location based entertainment settings.

Based on region, the North America segment is expected to have the largest market share during the forecast period.

The location-based entertainment industry in North America is experiencing strong growth and includes various sectors such as amusement parks, family entertainment centers, arcades, and virtual reality experiences. North America has witnessed progressive and dynamic adoption of new and immersive technologies like augmented reality (AR), virtual reality (VR) and mixed reality (MR). As VR and AR technologies continue to improve and become more affordable, more location based entertainment operators are likely to adopt them, which will help to drive growth in the market. The industry is expected to continue growing in the coming years, with more investment in new technologies and attractions to capture consumer interest and offer innovative experiences.

Market Players

The major players in the location based entertainment market are Google (US), Meta (US), Microsoft (US), Nvidia (US), Unity Technologies (US), Sony Interactive Entertainment (US), Samsung (South Korea), Barco Electronic Systems (Belgium), Panasonic (Japan), Huawei Technologies (China), HQ Software (Estonia), HTC Vive (Taiwan), Niantic Inc. (US), Vicon Motion Systems (UK), Optitrack (US), Springboard VR (US), 4Experience (Poland), Hologate (Germany), Ultraleap (UK), Magic Leap (US), Shape Immersive (Canada), Camon (Argentina), KatVR (US), Virtuix (US), Pico XR (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their footprint in the location based entertainment market.

Don’t miss out on business opportunities in Location Based Entertainment (LBE) Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Location Based Entertainment (LBE) Market Size,  Share & Growth Report
Report Code
TC 8652
PR Published ON
Choose License Type
Request Customization
Speak to Analyst
Speak to Analyst
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
  • What are the Known and Unknown Adjacencies Impacting the Location Based Entertainment (LBE) Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status

Digital Virtual Assistant - MarketsandMarkets