Revolutionizing Amusement: Market Insights and Innovations

The Business Research Company’s Amusements Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

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The amusements market has witnessed robust growth, surging from $619.95 billion in 2023 to an estimated $664.79 billion in 2024, with an impressive Compound Annual Growth Rate (CAGR) of 7.2%. Forecasts for the upcoming years indicate sustained strength, projecting the amusements market to reach $850.58 billion by 2028, maintaining a CAGR of 6.4%.

Impact of Social Media on Amusement Market:

Positive Influence: The increasing use of social media is profoundly impacting the amusement market, with visitors sharing their experiences, photographs, and videos on platforms. This trend facilitates broader awareness of amusement facilities, including parks and casinos. Social media emerges as a potent marketing tool, contributing to customer acquisition. Visa’s study reveals that 73% of Asians check in online while on holiday, and 71% share their experiences on social media, underlining its significance in the industry.

Market Growth Driver: The surge in social media usage is poised to drive substantial growth in the amusement market. With 4.8 billion active social media users globally as of April 2023, spending an average of 6 hours and 35 minutes per day online, the influence of social media on the market is undeniable. This trend is anticipated to play a pivotal role in shaping the future trajectory of the amusement industry.

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Innovations Shaping Amusement Parks:

Virtual and Augmented Reality (VR/AR): Amusement parks are leveraging VR and AR technologies to deliver immersive experiences. Examples include Plopsaland De Panne in Belgium with the virtual reality wooden roller coaster “Heidi the Ride” and SeaWorld’s Kraken Virtual Reality Roller Coaster in Orlando. Such innovations enhance the thrill and engagement factor, elevating the overall amusement park experience.

Innovative Product Development: Major companies in the amusements market are focusing on innovative product development, exemplified by Dollywood Parks & Resorts launching the Big Bear Mountain coaster. This family-friendly coaster, reaching speeds of up to 45 mph, features three launches, multiple drops, and various turns. The use of steel roller coasters showcases advancements in design, allowing for increased height, speed, and smoothness compared to traditional wooden roller coasters.

Key Market Players:

Major companies contributing to the vibrant amusements market include China Sports Lottery, The Walt Disney Company, Flutter Entertainment PLC, Comcast Corporation (Universal Studios), Six Flags Entertainment Corporation, Nintendo Co. Ltd., Live Nation Entertainment Inc., and many others. These industry leaders employ a combination of digital strategies, innovative technologies, and product development to maintain their prominence in the competitive landscape.

Regional Dynamics:

Asia-Pacific holds the position of the largest region in the amusements market in 2023, with Eastern Europe anticipated to be the fastest-growing region in the forecast period.

Market Segmentation-

The amusements market covered in this report is segmented –
1) By Type: Amusement Parks, Gambling
2) By Age Group: Below 25 Years, 26 to 39 Years, 40 to 59 Years, 60 to 74 Years
3) By Visitors’ Gender: Male, Female
Subsegments Covered: Theme Parks, Water Parks, Amusement Arcades, Casino, Lotteries, Sports Betting, Other Gambling

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Amusements Global Market Report 2024 from TBRC covers the following information:

1. Market size date for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Amusements Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on amusements market size, amusements market drivers and trends, amusements market major players, amusements market competitors’ revenues, amusements market positioning, and amusements market growth across geographies. The amusements market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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