Location-based Entertainment Market Analysis by Industry Perspective, Comprehensive Analysis, Growth and Forecast 2023-2028

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According to our latest market study, titled “Location-based Entertainment Market Forecast to 2028 –Global Analysis – by Component, Technology, and End-use,” the market is expected to grow from US$ 1,444.92 million in 2022 to reach US$ 2,918.91 million by 2028. It is anticipated to grow at a CAGR of 12.4% from 2022 to 2028.

Middle East countries, especially Saudi Arabia, the UAE, Qatar, Turkey, and Israel, invest significant amounts in developing and procuring advanced technologies. The increasing number of VR parks and malls is significantly driving the demand for LBE in the countries.

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Impact of COVID-19 Pandemic on Middle East & Africa Location-based Entertainment Market

Among the MEA countries, Iran faced the highest number of COVID-19 confirmed cases, which affected its economy severely. Other major MEA countries facing the social and economic impacts of COVID-19 include South Africa, Iraq, Turkey, Saudi Arabia, the UAE, and Qatar. The region comprises many growing economies, such as the UAE and Saudi Arabia, prospective destination for location-based entertainment market players. The pandemic led to the growth of the digital era. Users and industries have shifted to online sources and digital platforms for daily operations.

The LBE market in the UAE was majorly impacted as they have the MEA’s biggest amusement parks, located in Dubai and Abu Dhabi. Consumers have shifted to digital platforms for entertainment, impacting the MEA location-based entertainment market negatively and is expected to continue to do so during the forecast period. Further, the country has increased the use of touchless technology, physical-distancing enablers, and many others. All such factors are gradually contributed towards the location-based entertainment market analysis.

Key Findings of Market Study

The MEA location-based entertainment market companies continuously focus on growth strategies. Due to this, the companies have achieved several awards and recognitions. For instance, in June 2022, SPREE Interactive was awarded the “Best in Location-Based” for its AR and VR at Augmented World Expo 2022.

The Asia Pacific location-based entertainment market size is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Countries in Asia Pacific are known for adopting technological advancements in the early phase. Due to this, the region is home to many companies that are providers of location-based entertainment, such as Panasonic Connect, SKonec Entertainment, and Sony Interactive Entertainment LLC.

The overall location-based entertainment market has been derived using both primary and secondary sources. To begin the location-based entertainment market analysis, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the location-based entertainment market. The process also serves the purpose of obtaining an overview and market forecast of the market growth with respect to all market segments. Also, multiple primary interviews with industry participants and commentators have been conducted to validate the data and gain more analytical insights about the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the location-based entertainment market.

Brazil had the highest number of COVID-19 confirmed cases in SAM, closely followed by other countries, such as Argentina, Colombia, Chile, and Ecuador. The government in SAM took several initiatives to protect people and control COVID-19’s spread in the region through lockdowns, trade bans, and travel restrictions. These measures impacted the region’s economic growth, with SAM’s entertainment revenues dropping significantly in 2020 and 2021. However, the regional market has begun to revive with the revoking of lockdown and other restrictions.

Location-based Entertainment Market Analysis: Competitive Landscape and Key Developments

BidOn Games Studio; Dimension; HQSoftware; IMAX CORPORATION; Neurogaming LTD; TESLASUIT; SpringboardVR; Samsung Electronics Co., Ltd.; Vicon Motion Systems Ltd.; and VRstudios Inc. are among the key location-based entertainment market players profiled in this market study. In addition, several other essential location-based entertainment market players were studied and analyzed to get a holistic view of the market size and its ecosystem.

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global location-based entertainment market.

  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global location-based entertainment market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

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