Location-based entertainment (LBE) refers to a subcategory of entertainment that takes place in a specific physical location or environment, such as a theme park, gallery, game arcade, or other entertainment venue. Modern technologies like virtual reality, augmented reality, and other sensory effects are frequently included into LBE experiences to enhance active engagement and immersion.
According to SPER market research, ‘Europe Location-based Entertainment Market Size- By Component, By Technology, By End-Use – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Europe Location-based Entertainment Market is predicted to reach USD 1.75 billion by 2033 with a CAGR of 13.04%.
Urbanisation and population density are advantageous for the LBE industry in Europe since they create a broad consumer base and act as entertainment centres. People sharing their LBE experiences on social media and being promoted by influencers to a large audience have had a big impact. The market is thriving as a result of the customer need for distinctive and memorable experiences as well as the shift towards experiential entertainment. Collaborations with intellectual property owners and a wider audience are attracted by the variety of LBE products. Government assistance and incentives, such as tax breaks, subsidies, and benevolent rules, further promote the expansion of the LBE industry.
In Europe, opening and operating venues for location-based entertainment can be expensive due to costs for real estate, furnishings, labour, upkeep, and marketing. It can be difficult to find ideal locations in heavily crowded cities because space is scarce and expensive. Additionally, since consumers can access accessible and affordable options from home, competition from online and digital entertainment platforms has had an impact on the sector.
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Impact of COVID-19 on Europe Location-based Entertainment Market
The industry must adapt to shifting consumer preferences brought on by changes in lifestyles and technology by incorporating new tools and offering distinctive experiences. Due to prohibitions on mass meetings, the COVID-19 epidemic has had a serious impact.
LBE operators in Europe implemented health and safety measures as a result of the COVID-19 epidemic, including mask use, social seclusion, improved sanitization, and lower capacity. Although necessary, these actions had an impact on how visitors were treated and how much money was made. The pandemic also caused a shift in consumer preferences towards virtual and online entertainment, which had an effect on the demand for conventional LBE products. Due to financial difficulties brought on by extended closures and decreased attendance, numerous LBE venues had to close, which had an especially negative effect on smaller operators.
Europe Location-based Entertainment Market Key Players:
Geographically, Germany emerged as the dominant region in the Location-based Entertainment industry as it has a large population, including major cities like Berlin, Munich, and Hamburg, which provide a significant consumer base for LBE establishments. The country also has a thriving tourism industry, attracting both domestic and international visitors interested in entertainment experiences. Overall, Western Europe is working less hours and relaxing more. Germans work 18.6 hours a week, excluding holidays and unpaid time off. Furthermore, the projected period anticipates a surge in demand for Location-based Entertainment by escalating consumer demand for immersive video content, video games, and other entertainment options, which could eventually drive VR headset sales. Additionally, some of the market key players are Meta, Microsoft Corporation, Niantic Inc., Samsung Electronics Co. Ltd., Others.
Europe Location-based Entertainment Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Component: Based on the Component, Europe Location-based Entertainment Market is segmented as; Hardware, Software, Services.
By Technology: Based on the Technology, Europe Location-based Entertainment Market is segmented as; 2-Dimensional, 3-Dimensional, Cloud Merged Reality.
By End-Use: Based on the End-Use, Europe Location-based Entertainment Market is segmented as; Amusement Parks, Arcade Studios, 4D Films, Others.
By Region: This research also includes data for France, Germany, Italy, Netherlands, Spain, United Kingdom, Rest of Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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