Global Amusement Parks and Arcades Market 2019 Industry Analysis, Share, Growth, Sales, Trends, Supply, Forecast 2022

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PUNE, MAHARASHTRA, INDIA, July 5, 2019 /EINPresswire.com/ — Amusement Parks and Arcades Market:

Executive Summary

This report describes and evaluates the market for amusement parks and arcades globally. It covers two five-year periods, 2014 to 2018, termed the historic period and 2018 through 2022, the forecast period.

The global amusement parks and arcades market reached a value of nearly $62.0 billion in 2018, having grown at a compound annual growth rate (CAGR) of 8.3% since 2014 and is expected to grow at a CAGR of 8.8% to nearly $87.2 billion by 2022.

Growth in the historic period resulted from a rise in disposable incomes, companies focusing on reinvesting, increase d travel and tourism, and economic growth. Factors that negatively affected growth in the historic period were harsh weather conditions and rising costs. Going forward, economic growth in developed nations and increasing use of social media will drive the growth. Factors that could hinder the growth of this market in future include unfavorable demographic changes, a threat from home entertainment and experience fatigue.

The amusement parks and arcades market is segmented by type into theme parks, water parks and amusement arcades. Theme parks was the largest segment of the amusement parks and arcades market in 2018 at 81.5%. The theme parks market is also expected to be the fastest-growing segment going forward at a CAGR of 9.1%.

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The theme parks market is further segmented based on the age group of visitors into five categories – below 25 years, 25 to 39 years, 40 to 59 years, 60 to 75 years, and 75 years and above. Visitors below 25 years were the largest segment of the theme parks market by age group in 2018 at 39.2%. The theme parks market is also segmented based on the visitors’ gender into female visitors and male visitors. Female visitors were the largest segment of the theme parks market by visitors’ gender in 2018 at 50.1%.

The water parks market is further segmented based on the age group of visitors into five categories – below 25 years, 25 to 39 years, 40 to 59 years, 60 to 75 years, and 75 years and above. Visitors below 25 years were the largest segment of the water parks market by age group in 2018 at 42.3%. The water parks market is also segmented based on the visitors’ gender into female visitors and male visitors. Male visitors were the largest segment of the water parks market by visitors’ gender in 2018 at 52.0%.

The amusement arcades market is further segmented based on the age group of visitor into five categories – below 25 years, 25 to 39 years, 40 to 59 years, 60 to 75 years, and 75 years and above. Visitors below 25 years accounted for the largest segment of the amusement arcades market in 2018 at 40.0%. The arcades, amusement device parlors and others market is also segmented based on the visitors’ gender into female visitors and male visitors. Male visitors were the largest segment of the amusement arcades market by visitors’ gender in 2018 at 57.1%.

The amusement parks and arcades market is segmented by revenue source into tickets, food & beverages, hotels & resorts, and merchandise and others. Tickets were the largest segment of the amusement parks and arcades market by revenue source in 2018 at 62.4%.

North America was the largest market for amusement parks and arcades, accounting for 40.1% of the global market in 2018. It was followed by Asia-Pacific, Western Europe, and then the other regions. Going forward, North America and Asia-Pacific will be the fastest growing regions in the amusement parks and arcades market; growth will be at a CAGR of 9.3% in both these regions. These will be followed by the Middle East and Western Europe, where the markets are expected to grow at CAGRs of 8.6% and 8.4% respectively.

The amusement parks and arcades market is relatively concentrated, with the top two players accounting for nearly one-third of the whole, while the top ten competitors made up 44.69% of the total market in 2018. The remaining part of the market is fragmented with a large number of small players. Major players in the market include Walt Disney Parks and Resorts, Universal Parks and Resorts, Merlin Entertainment plc, Oriental Land Company Ltd and Six Flags Entertainment Corporation.

The global amusements market, of which the amusement parks and arcades market is a segment, reached a value of nearly $511.3 billion in 2018, having grown at a CAGR of 4.5% since 2014. It will grow at a CAGR of 6.3% to nearly $652.6 billion by 2022. The gambling market was the largest segment of the amusements market, accounting for 87.9% of the total. The amusement parks and arcades segment is expected to be the fastest growing segment in the amusements market, growing at a CAGR of 8.9% during 2018-2022.

The top opportunities in the amusement parks and arcades market will arise in the theme parks segment which will gain $21.1 billion of global annual sales by 2022. The amusement parks and arcades market size will gain the most in the USA at $9.92 billion. Market-trend-based strategies for the amusement parks and arcades market include using IoT technology that improves efficiency and guest experience, introducing cost effective retractable roofs for water parks, and offering platforms to patrons for booking rides or tickets with the help of mobile technologies. Player-adopted strategies in the amusement parks and arcades industry include launching new attractions and entertainments, investing in opening new theme parks, and acquisitions.

To take advantage of these opportunities, The Business Research Company recommends the amusement parks and arcades companies to using digital technologies to enhance the user experience, focus on reinvesting, contribute towards sustainability, leverage technology to maximize reach and increase focus on commercialized nostalgia, among other strategies.

Continuous…

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NORAH TRENT
WISE GUY RESEARCH CONSULTANTS PVT LTD
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Source: EIN Presswire