The size of the global location-based entertainment market has been assessed

Global location-based entertainment market

According to the latest research by SkyQuest Technology, the global location-based entertainment market size was valued at US$3.2 billion in 2021, and it is expected to reach a value of US$25.34 billion by 2028. , with a CAGR of 34.4% vs. forecast. period (2022 – 2028). The research provides up-to-date analysis of the Entertainment market based on location of the current market landscape, latest trends, drivers, and overall market environment.

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Virtual reality (VR), which offers a simulated world to users seeking an immersive and realistic experience, has added a new dimension to the gaming industry. Several video game companies are conducting mergers and acquisitions with virtual reality and location-based entertainment (LBE) technology providers to increase their respective market shares. For example, VR game studio Vertigo Games purchased content marketplace and VR site management software provider Springboard VR for LBE in February 2021. In addition to providing operators with access to VR content through the distribution platform Haze VR from Vertigo Games, the acquisition aimed to provide game developers and operators with additional tools and technology to help them grow their LBE businesses.

A handful of entertainment venues that offer LBE services are arcades, theme parks, and VR cafes. As immersive technologies such as augmented reality (AR), virtual reality (VR), 3D animation and other technologies are combined with LBE, the market for location-based entertainment is growing. LBE operators are focused on expanding their global presence and gaining an edge over their competitors. For example, video game industry Koch Media GmbH acquired Vertigo Games in September 2021 to expand its global network and reach and open new publishing opportunities for Vertigo Games and its subsidiaries.

Read the Market Research Report, “The global location-based entertainment market is segmented on the basis of component, technology, end-use, and region. Based on component, the market is further sub-segmented into hardware, software.Based on technology, the market is segmented into 2-dimensional (2D), 3-dimensional (3D), and Cloud Merged Reality (CMR).Based on end-use, the market is split in amusement parks, arcade studios, 4D movies and by region – Forecast and analysis 2022- 2028″ by SkyQuest

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Beginning in Wuhan, China, COVID-19 quickly spread around the world. The United States, India, Brazil, Russia, France, United Kingdom, Turkey, Italy and Spain are among the hardest hit countries in terms of confirmed cases and reported deaths . COVID-19 has affected businesses and industries in various countries due to lockdowns, travel restrictions and business closures. Production, delivery plans and sales of items in the global market have all suffered from the closure of many factories and businesses. Only a small number of companies have already issued warnings about possible supply delays and planned sales cuts. Demand for immersive video material, video games and other entertainment is expected to increase, which could eventually drive the sale of virtual reality (VR) headsets. The location-based entertainment market is expected to grow dramatically following the introduction of 360-degree VR technology.

The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data and verifiable revenue projections of the global location-based entertainment market. The projections presented in the report have been derived using proven research methodologies and assumptions.

Report results
● Drivers – Demand for immersive video hardware, video games and other entertainment is expected to increase, which could eventually drive the sale of virtual reality (VR) headsets.
● Constraint: One of the biggest issues facing those creating location-based VR entertainment is delivering games that balance fun and learning, understanding the target audience and their needs, and finding ways to suitable for students to enjoy.

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What does this report bring?
● Market estimate for more than 20 countries
● Global location-based entertainment market demand by region, sub-region and country
● Customization of segments, regions and company profiles
● 100+ tables, 150+ numbers
● Global, regional and national location-based entertainment market trends
● Complete mapping of location-based entertainment market parameters
● Attractive investment proposition in the global location-based entertainment market
● Competitive strategies adopted by key players in the global location-based entertainment market
● Drivers, restraints, opportunities, challenges and impact on the global location-based entertainment market size
● Market growth rate till 2028
● Regulatory scenario, regional dynamics and insights of the global entertainment market based on the location of major countries in each region
● Detailed market information by region and country
● Analysis of market segmentation trends, opportunities and growth
● Porter’s five forces analysis to know the state of the market
● Price and sales analysis of the global location-based entertainment market
● Parent market analysis
● Comparative analysis of the product portfolio

SkyQuest has segmented the global location-based entertainment market on the basis of component, technology, end-use, and region:
● Global location-based entertainment market outlook by component type (Revenue, USD Million, 2021-2028)

o Material
● Global Location-Based Entertainment Market by Technology Outlook (Revenue, USD Million, 2021-2028)

2 dimensional (2D)
3 dimensional (3D)
o Cloud Merged Reality (CMR)
● Global location-based entertainment market by end-use perspective (Revenue, USD Million, 2021-2028)

o Amusement parks
o Arcade Studios
4D movies

● Global location-based entertainment market by regional outlook (Revenue, USD Million, 2021-2028)
o North America
▪ Canada
▪ Mexico
o Europe
▪ Germany
▪ United Kingdom
o Asia Pacific
▪ China
▪ Japan
▪ India
o South America
▪ Brazil
o Middle East and Africa

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Key players in the global location-based entertainment market
• Acetifici Italiani Modena (Italy)
• BidOn game studio (Europe)
• HQSoftware (USA)
• HTC Corporation (China)
• IMAX Corporation (Canada)
• Neurogaming Ltd (Netherlands)
• Sony Interactive Entertainment LLC (USA)
• Springboard VR (United States)
• Vicon Industries, Inc. (USA)

About Us-
SkyQuest Technology Group is a global market intelligence, innovation management and commercialization organization that connects innovation to new markets, networks and collaborators to achieve the Sustainable Development Goals.

Contact us-
SkyQuest Technology Consulting Pvt. ltd.
1 Apache Way,
Massachusetts 01886
USA (+1) 617-230-0741
Email – [email protected]

This press release was published on openPR.