Overview and Scope
Entertainment buildings refer to the structures that are specifically designed for hosting performances, concerts, movies, and other forms of entertainment. They can serve a variety of purposes, such as providing a venue for events, and also offer additional amenities such as restaurants, bars, and merchandise shops, creating a complete entertainment experience for their visitors. It involves the design and construction of entertainment buildings.
Sizing and Forecast
The entertainment buildings market size has grown steadily in recent years. It will grow from $108.68 billion in 2023 to $113.05 billion in 2024 at a compound annual growth rate (CAGR) of 4.0%. The growth in the historic period can be attributed to cultural and arts scene, population and urbanization, tourism and attractions, economic prosperity, changing leisure preferences..
The entertainment buildings market size is expected to see steady growth in the next few years. It will grow to $133.04 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to experiential entertainment trends, sustainability and green design, adaptation to digital platforms, community engagement initiatives, crisis resilience.. Major trends in the forecast period include digital ticketing and access control, integration of art and technology, culinary experiences, accessibility and inclusivity, data-driven insights..
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Segmentation & Regional Insights
The entertainment buildings market covered in this report is segmented –
1) By Type: Residential, Non-residential
2) By Construction Type: New Construction, Renovation
3) By Application: Owned, Rental
4) By End User: Private, Public
Asia-Pacific was the largest region in the entertainment buildings market in 2023. The regions covered in the entertainment buildings 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
The increasing construction spending is expected to propel the growth of the entertainment buildings market going forward. Construction spending refers to the expenses made on new construction and includes a variety of construction-related expenditures such as manpower, materials, and infrastructure work. An increase in construction spending favorably influences entertainment buildings since it leads to the development of new entertainment buildings, such as music halls, theatres, and sports stadiums. For instance, in March 2023, according to a recent statistical report published by the United States Census Bureau, a US-based agency of the U.S. Federal Statistical System, total construction spending in the United States was approximately $1.70 trillion in 2022, reflecting a 16% rise. Therefore, increasing construction spending is driving the growth of the entertainment buildings market.
Key Industry Players
In April 2022, LeChase Construction Services LLC, a US-based contracting and construction management services company, acquired Sano-Rubin Construction Services for an undisclosed sum. This acquisition would enable LeChase to quicken the execution of its long-term expansion strategy in the region. Sano Rubin’s addition will enable LeChase to pursue a wider range of projects in its core markets, which include healthcare, education, industrial, multi-family housing, entertainment, and hospitality. Sano-Rubin Construction Services is a US-based entertainment building construction services company.
The entertainment buildings market report table of contents includes:
1. Executive Summary
2. Entertainment Buildings Market Characteristics
3. Entertainment Buildings Market Trends And Strategies
4. Entertainment Buildings Market – Macro Economic Scenario
5. Global Entertainment Buildings Market Size and Growth
…
31. Global Entertainment Buildings Market Competitive Benchmarking
32. Global Entertainment Buildings Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Entertainment Buildings Market
34. Entertainment Buildings Market Future Outlook and Potential Analysis
35. Appendix
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