An amusement park is a large outdoor area where people can entertain themselves with various rides, games, and other events. Amusement parks help bring out smiles and joy to people of all ages. Theme and amusement parks have a great sense of community and happiness that is unique and hard to replicate with anything else.
Sizing and Forecast
The amusement parks market size has grown strongly in recent years. It will grow from $79.68 billion in 2023 to $84.43 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to strong economic growth in emerging markets, growing customer preferences towards experiences on leisure, improved earning capacity and mobile applications for amusement parks.
The amusement parks market size is expected to see strong growth in the next few years. It will grow to $105.82 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to government support, rising urbanization, increase in use of social media and increasing investments in themed amusement parks. Major trends in the forecast period include leveraging iot to improve operational efficiency, focusing on green energy to power their rides and other attractions, focusing on retractable roofs and enclosures, focusing on virtual and augmented reality technologies, focusing on sustainable operations and offering platforms to their patrons for booking rides.
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Segmentation & Regional Insights
The amusement parks market covered in this report is segmented –
1) By Type: Theme Parks, Water Parks, Amusement Arcades
2) By Revenue Source: Tickets, Food And Beverages, Hotels And Resorts, Merchandise, Other Revenue Sources
3) By Age Group: Below 25 Years, 25 To 39 Years, 40 To 59 Years, 60 To 74 Years, 75 Years And Above
4) By Visitors’ Gender: Male, Female
North America was the largest region in the amusement parks market in 2023. Western Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the amusement parks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increasing the use of social media and access to mass media is positively influencing the amusement park market. Visitors in amusement facilities such as amusement parks like sharing their experiences, photographs, and videos on social media platforms which helps other people know about the experiences offered by the amusement parks. According to a study conducted by Visa, a cards and payment company, 73% of Asians check in online while on a holiday, and as many as 71% of people share their experiences on social media sites. Social media is the most effective marketing tool for amusement parks to acquire new customers. Extensive use of social media is expected to drive the amusement parks market going forward.
Key Industry Players
Major companies operating in the amusement parks market report are The Walt Disney Company, Comcast Corporation, Oriental Land Company Ltd, Seaworld Entertainment Inc, Six Flags Entertainment Corporation, Maruhan, Cedar Fair Entertainment, Merlin Entertainment Plc, Vail Resorts, Inc., Aspro Parks, Della Adventure Park, Wonderla Holiday, China Travel Service (Hong Kong), USJ Co., Ramoji Group and Village Roadshow Limited (VRL), Freizeit- und Familienpark Mack KG, Euro Disney S.C.A., Disneyland Paris, Efteling Nature Park Foundation, Tivoli A/S, Patriot Theme Parks, Dream Island Holding Company, NBC Universal Media LLC, Hershey Entertainment & Resorts Company, Tinkertown Amusements Ltd, Canada’s Wonderland Company, Marineland of Canada Inc, Rubi Gaming S.A.C., Dreams Corporation S.A.C, Rosa Laranjeira Lopes, Renato Rodrigues Silva, Slots Machines S.A, Interjuegos S.A, Jumeirah, Farah Experiences LLC, Tsogo Sun Kwazulu-Natal (Pty) Ltd, Silver Star Development Ltd, Gold Reef City Theme Park, Ushaka Marine World.
The amusement parks market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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