North America Location-based Entertainment Market Trends, Size, Segment and Growth by Forecast to 2030

The North American location-based entertainment (LBE) market is projected to expand significantly, from US$581.20 million in 2022 to US$1,137.55 million by 2028, demonstrating a CAGR of 11.8%. A key driver of this growth is the increasing popularity of 360-degree VR-based games.

Impact of 360-Degree VR Technology

The development of 360-degree virtual reality (VR) technology is a major contributor to the LBE market's expansion. This technology offers viewers a complete 360-degree view of projected content, creating thrilling and immersive experiences that are boosting industry growth. This trend is leading major market players to collaborate with technology providers to advance LBE technology. For instance, in September 2019, TacHammer, StrikerVR, Inc., and Nanoport Technology Inc. partnered on the Linear Magnetic Ram (LMR) haptic technology. This collaboration led to Striker VR launching the Arena Infinity LITE VR peripheral, designed to deliver realistic tactile experiences for LBE and VR.

Growth in VR Gaming Hardware

The hardware sector has seen the most significant growth within the VR gaming market, encompassing VR gaming headsets and other gaming-specific products. The VR gaming market is expected to see dynamic shifts due to the presence of both smaller startups and major hardware manufacturers like Oculus VR, Sony, Samsung, and Google. Competition among these players will be intense, focusing on the style and cost of VR gadgets.

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The rising popularity of 360-degree content, coupled with increased adoption, implementation, and acceptance of this technology, is anticipated to reduce the prices of VR hardware components such as joysticks and VR headsets. As a highly sought-after major gaming platform, location-based VR technology is predicted to enhance the appeal of 360-degree video. These factors are expected to fuel the growth of the North America location-based entertainment market in the coming years.

The North America location-based entertainment (LBE) market, encompassing the US, Canada, and Mexico, is poised for significant growth. The region boasts over 400 theme parks, with California's Disneyland being a long-standing and prominent example of LBE.

Several factors are contributing to this expansion:

 

New Initiatives and Partnerships

  • Warner Bros. Discovery announced the "Wizarding World Festival," a three-day event set to debut in the US in 2023. This initiative is a collaboration with Superfly X and live-entertainment platform Fever.
  • In May 2022, Mattel and Epic Resort Destinations revealed plans for the Mattel Adventure Park in Glendale, Arizona, opening in 2023. This flagship entertainment site will feature popular brands like Barbie (including the "Barbie Flying Theater") and Hot Wheels.

 

Government Support and Tourism Growth

Increased tourist numbers in North America are prompting governmental support for LBE. The US government, for instance, aids the LBE and themed tourist attractions sectors by facilitating the export of machinery, products, and architectural/engineering services for amusement parks. This support extends to various service models, including public and private experience-driven activities and franchises.

Presence of Key Industry Players

The region's robust presence of theme parks, film studios, and amusement parks presents substantial growth opportunities for companies.

  • Betson Enterprises, a US-based company, provides LBE solutions for amusement parks and arcade studios.
  • Lionsgate, a Canadian-American entertainment company, actively hosts new location-based experiences.
  • Eon Reality has established its Realidad Zero virtual reality center in Mexico.

With numerous entertainment providers actively investing and expanding, the North American LBE market is primed for continued development.


North America Location-Based Entertainment Market Segmentation

The North America location-based entertainment market is segmented by component, technology, end-use, and country.

  • By Component: The market is divided into hardware and software. In 2022, the hardware segment accounted for the larger share of the market.
  • By Technology: The market is categorized into 2-dimensional and 3-dimensional technologies. The 3-dimensional segment led the market in 2022.
  • By End-Use: The market includes amusement parks, arcade studios, and film studios. Among these, amusement parks held the largest market share in 2022.
  • By Country: The regional analysis covers the US, Canada, and Mexico. The US emerged as the dominant market in 2022.

Key Players: Prominent companies in the North America location-based entertainment market include BidOnGames Studio, Dimension, HQSoftware, IMAX Corporation, Neurogaming Ltd, SpringboardVR, Samsung Electronics Co., Ltd., Vicon Motion Systems Ltd, and VRstudios, Inc.


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