MENA Family/Indoor Entertainment Centres market to generate $1,685.36 million by 2027, claims AMR
Surge in per capita disposable income, availability of diversified gaming & entertainment options, and favourable youth demographics in the MENA region are the key factors that drive the growth of the MENA family indoor entertainment centers market. However, shift in preference of tech-savvy consumers toward home gaming & mobile devices, high initial cost of FECs, and increase in ticket prices majorly restrict the market growth.
On the contrary, continuous launch of new FECs supporting family activities and integration of food & beverage and games such as participatory play are anticipated to create significant opportunities for growth of the family/indoor entertainment centres market. Moreover, substantial rise in investments by malls to attract consumers and integration of augmented reality (AR) & virtual reality (VR) gaming zones in FECs are anticipated to provide lucrative opportunities for the growth of the market.
According to a recent report published by Allied Market Research, titled, “MENA Family/Indoor Entertainment Centers Market by Visitor Demographic, Facility Size, Revenue Source, Application, and Type: Opportunity Analysis and Industry Forecast, 2020-2027,” the MENA family/indoor entertainment centres market was valued at $618.65 million in 2019, and is projected to reach $1,685.36 million by 2027, growing at a CAGR of 13.3% from 2020 to 2027.
On the basis of revenue source, the entry fees and ticket sales segment led the market in 2019, and is expected to continue to remain dominant in the near future owing to number of lucrative offers provided by majority of family entertainment centres on booking tickets are attracting many families, which fuel the market growth. Moreover, the entry fees & ticket sales segment is anticipated to garner significant MENA indoor entertainment centres market share, owing to increase in retail traffic of teenage customers in the MENA region. However, the food & beverages segment is expected to witness highest growth rate, as people have started preferring these centres for hosting corporate events and birthday parties, which significantly contribute toward the growth of the market in the MENA region.
On the basis of application, the arcade studios segment dominated the market in 2019, and is expected to continue this trend during the forecast period as arcade games are an essential component of a well-developed family entertainment centres business. Moreover, these games can create a strong draw and earnings for fun centres operators, which is the major factor that fuels the market growth. In addition, increase in spending by children and young age members on entertainment activities in arcade studios fuels the market growth.
However, AR & VR gaming zones segment is expected to witness highest growth rate in the upcoming years as AR & VR gaming zones can provide tremendous fun experiences. Owing to their realistic and engaging experiences, not only young children but adults are also getting attracted toward AR & VR gaming zones, which is the major factor fuelling the MENA family entertainment centres market growth. In addition, VR provides lot of fun in a small amount of space, which provides a huge opportunity for location-based entertainment (LBE), which in turn propels the growth of the Family Entertainment Centers Market in North Africa.
Key Findings Of The Study
• By visitor demographic, in 2019, the teenagers (13-19) segment dominated the MENA family entertainment centres market size. However, the families with children (9-12) segment is expected to exhibit significant growth during the forecast period.
• Deepening on facility size, the 20,001–40,000 sq. ft. segment accounted for the highest revenue in 2019.
• According to revenue source, the entry fees & ticket sales generated the highest revenue in 2019. However, the food & beverages segment is expected to witness highest growth rate in the near future.
• On the basis of application, the arcade studios dominated the MENA family/indoor entertainment centres market. However, the AR & VR gaming zones are expected to exhibit significant growth during the forecast period.
• As per type, the children entertainment centers (CECs) segment accounted for the highest revenue in 2019.
• Country wise, Egypt is expected to witness significant growth in the upcoming years.
Some of the key MENA family/indoor entertainment centers industry players profiled in the report include Dave & Buster’s, CEC Entertainment, Inc., Kidzania, Funcity, SMAAASH Entertainment Pvt. Ltd., Legoland, CAVU Designwerks Inc., a Majid Al Futtaim Company (Magic Planet), Landmark Group, and Adventureland. This study includes MENA family/indoor entertainment centres market trends, MENA family entertainment centres market analysis, and future estimations to determine the imminent investment pockets.