Current and Future Boom of Location-Based Entertainment Market | Exit Reality; Springboard VR; HTC Corporation; IMAX Corporation; VRstudios Inc.

December 02 11:49 2019
Current and Future Boom of Location-Based Entertainment Market | Exit Reality; Springboard VR; HTC Corporation; IMAX Corporation; VRstudios Inc.

Grand View Research, Inc. – Market Research And Consulting.
The global location-based entertainment market size is expected to reach USD 7.8 billion by 2025, registering a 32.1% CAGR from 2019 to 2025, according to a new study by Grand View Research, Inc.

The global location-Based entertainment market size is expected to reach USD 1.2 billion by 2018, registering a 32.1% CAGR from 2019 to 2025 according to a new study by Grand View Research, Inc. Increasing consumer spending on games, video content, and end-uses associated with the sale of VR headsets is anticipated to deliver positive growth outlook for the market. In the early days of virtual reality market, there were number of manufacturers present with underdeveloped business models and experimental low-quality content. Nevertheless, with rising demand from game publishers, location-based VR providers have made progress with the large investment in quality improvement and infrastructure.

Location-based entertainment (LBE) is among the fastest growing segment in the VR market. To gain competitive advantage, operators are focusing on offering the content and experience which can distinguish LBE from the increasing adoption of in-home system. Location-based entertainment service encompasses arcade, theme park, and entertainment service. The companies are using various VR headset devices to break through arcade walls and deliver high-end experiences, which set themselves apart from other conventional service providers.

Location-based VR offers the dedicated space for room scale experience and upsurge array of custom designed hardware, which allow physicality to immerse. While adoption of LBE VR has increased across globe, total spending on software, hardware, content and related services are expected to show high CAGR over the forecast period. In addition, applications of LBE VR are also diversifying beyond amusement parks, cinema and theme park activities, in order to maximize the potential of this promising technology.

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North America location-based entertainment market size, by component, 2014 - 2025 (USD Million)

Further key findings from the report suggest: 

  • In terms of components, the hardware segment is expected to grow at the fastest pace over the forecast period. This growth can be attributed to the increasing demand for VR headsets

  • In terms of end use, amusement parks are gaining high traction in the market, with increasing investment by private firms

  • 3D technology has gained high traction in the location based entertainment market, owing to the growing development of 3D technology for VR, AR, and MR with LBE

  • Location-based Entertainment also uses wireless technology and unthreaded VR headset, which offers freedom of movement

  • Some of the key players in the market are Exit Reality; Springboard VR; HTC Corporation; IMAX Corporation; VRstudios Inc.; The VOID LLC; and Microsoft Corporation.

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Technology Insights

Based on technology, the location-based entertainment market has been segmented as 2 dimensional (2D), three dimensional (3D), and Cloud Merged Reality (CMR). The three-dimensional segment accounted for the maximum share in the market over the forecast period.

While most industries research and development departments are still trialing with AR and VR, the entertainment industry is already registering a return on investment and sustainable growth owing to the high consumer spending in theme parks and location-based entertainment sites. Integration of 3D technologies in amusement parks and LBE sites is expected to drive the growth of the market over the forecast period. For instance: Ultrahaptics, a U.K. based company, provides three-dimensional shapes and textures with the usage of haptic technology. The company has patented virtual touch technology that uses ultrasound to project texture and shapes onto the user’s hand.

Component Insights

Based on component, the market has been segmented as hardware and software. In 2018, the hardware segment accounted for the maximum share in the market for location-based entertainment. The software segment is expected to show high growth in the market over the forecast period. The manufacturers provide both hardware and software-based solutions to create out-of-home virtual reality experience. For instance, in January 2019, location-based entertainment startup Sandbox VR secured USD 68 million investment for software development.

 Global location-based entertainment market share, by technology, 2018 (%)

Grand View Research has segmented the global location based entertainment market on the basis of component, end use, technology, and region:

Location-based Entertainment Component Outlook (Revenue, USD Million, 2014 – 2025)

  • Hardware

  • Software

Location-based Entertainment End-use Outlook (Revenue, USD Million, 2014 – 2025)

  • Amusement Park

  • Arcade Studios

  • 4D Films

Location-based Entertainment Technology Outlook (Revenue, USD Million, 2014 – 2025)

  • 2 Dimensional (2D)

  • 3 Dimensional (3D)

  • Cloud Merged Reality (CMR)

Location-based Entertainment Regional Outlook (Revenue, USD Million, 2014 – 2025)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • South America

    • Brazil

  • MEA

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Location Based Entertainment Market:  https://www.grandviewresearch.com/industry-analysis/digital-map-market

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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