Location-Based Entertainment Global Market Report 2024

The location-based entertainment market size has grown exponentially in recent years. It will grow from $3.05 billion in 2023 to $3.86 billion in 2024 at a compound annual growth rate (CAGR) of 26.4%. The expansion during the historical period can be credited to connections with popular culture, the impact of social media, urbanization, the prevalence of family and group activities, and the trends in experiential spending.

The location-based entertainment market size is expected to see exponential growth in the next few years. It will grow to $9.91 billion in 2028 at a compound annual growth rate (CAGR) of 26.6%. The anticipated growth in the forecast period is expected to stem from the incorporation of artificial intelligence, expansion into emerging markets, sustainability efforts, cross-industry partnerships, and a transition towards hybrid experiences. Key trends in the forecast period encompass the integration of augmented reality (AR), immersive experiences, adoption of virtual reality (VR), focus on interactive attractions, and technological advancements.

The growth of the location-based entertainment market is expected to be driven by an increase in consumer spending on games and video content. This spending encompasses purchases or subscriptions to video games, downloadable content, in-game purchases, streaming services, and other digital entertainment products. It mirrors a rising demand for digital and immersive entertainment experiences, alongside a shift towards online streaming platforms. Such spending also strengthens location-based entertainment by showcasing the potential for immersive experiences, thereby generating interest in similar interactive offerings at physical venues. For instance, in February 2024, total video game sales surged to $57.2 billion, up from $56.6 billion in 2022, with a notable boost in video game content spending reaching $48 billion in 2023, compared to $47.5 billion in 2022. Thus, the growth of the location-based entertainment market is propelled by increasing consumer spending on games and video content.

Major players in the location-based entertainment sector are concentrating on developing innovative solutions, including advanced virtual reality technologies, to enrich immersive experiences and attract a broader audience. Virtual reality technology in this context creates immersive digital environments for users to interact with in physical spaces, thereby enhancing overall entertainment experiences. For example, in September 2022, Shanghai Disney Resort inaugurated SoReal VR SuperSpace, an immersive virtual reality experience in its Disneytown district, marking Shanghai's first flagship store. The venue, featuring VR experiences on the first floor and an immersive VR walkthrough on the second, was developed by SoReal, a China-based VR company, enhancing visitor engagement and entertainment options within Disneytown.

In December 2023, Lionsgate, a US-based motion picture company, acquired the eOne entertainment platform from Hasbro for $375 million. This acquisition expanded Lionsgate's library with 6,500 film and television titles, strengthened its scripted and unscripted television divisions, and extended its presence in Canada and the UK. Hasbro, a US-based play and entertainment company, is a provider of location-based entertainment.

Major companies operating in the location-based entertainment market are Google LLC, Samsung Electronics Co. Ltd., Microsoft Corporation, Meta Platforms Inc., Huawei Technologies Co. Ltd., The Walt Disney Company, Panasonic Corporation, Nvidia Corporation, Regal Entertainment Group, Unity Technologies Inc., AEON Fantasy Co. Ltd., Sony Interactive Entertainment LLC, Magic Leap Inc., HTC Corporation, Niantic Inc., Barron Games International LLC, Bob’s Space Racers Inc., HQ Software LLC, Habo Studio Inc., CamOnApp S.A., E-Learning Studios Ltd., SpringboardVR Inc., BidOn Games Studio LLC, VRstudios LLC.

North America was the largest region in the location-based entertainment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the location-based entertainment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the location-based entertainment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Location-based entertainment (LBE) refers to a form of entertainment that occurs within a specific physical setting, such as amusement parks and themed venues, often integrating immersive technologies to heighten visitor engagement and enjoyment. These experiences commonly incorporate virtual reality (VR), augmented reality (AR), or similar immersive technologies to craft immersive worlds and narrative environments.

The primary components of location-based entertainment encompass hardware, software, and services. Location-based entertainment hardware refers to the tangible equipment and apparatuses employed in venues such as amusement parks and arcades to deliver immersive experiences, such as VR attractions and interactive gaming. These technologies encompass various forms, including 2D, 3D, and cloud-merged reality (CMR), catering to diverse end users such as amusement parks, arcade studios, and 4D cinemas.

The location-based entertainment research report is one of a series of new reports that provides location-based entertainment market statistics, including the location-based entertainment industry's global market size, regional shares, competitors with a location-based entertainment market share, detailed location-based entertainment market segments, market trends and opportunities, and any further data you may need to thrive in the location-based entertainment industry. This location-based entertainment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The location-based entertainment market consists of revenues earned by entities by providing services such as gameplay, storytelling, projection mapping, and others. The market value includes the value of related goods sold by the service provider or included within the service offering. The location-based entertainment market also includes sales of virtual reality (VR) headsets, augmented reality (AR) devices, interactive controllers, and audio systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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