Overview and Scope
Amusement is the state of experiencing hilarious and entertaining events or circumstances, and it is related to satisfaction, happiness, laughing, and pleasure. Amusement helps kids to create fun and enjoyment.
Sizing and Forecast
The amusements market size has grown strongly in recent years. It will grow from <b>$619.95 billion in 2023 to $664.79 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. </b> The growth in the historic period can be attributed to the increasing availability of leisure time, tourism growth, advances in entertainment technology, family entertainment, event marketing and promotion.
The amusements market size is expected to see strong growth in the next few years. It will grow to <b>$850.58 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. </b> The growth in the forecast period can be attributed to sustainability initiatives, experience economy, digital and augmented reality (AR), health and wellness focus, personalized experiences. Major trends in the forecast period include hybrid virtual and physical experiences, pop-up and mobile attractions, themed entertainment, sustainable design and practices, art and culture integration.
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Segmentation & Regional Insights
The amusements market covered in this report is segmented –
1) By Type: Amusement Parks, Gambling
2) By Age Group: Below 25 Years, 26 to 39 Years, 40 to 59 Years, 60 to 74 Years
3) By Visitors’ Gender: Male, Female
Subsegments Covered: Theme Parks, Water Parks, Amusement Arcades, Casino, Lotteries, Sports Betting, Other Gambling
<b>Asia-Pacific</b> was the largest region in the amusements market in 2023. <b>Eastern Europe</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the amusements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Major Driver Impacting Market Growth
Increasing use of social media and access to mass media is positively influencing the amusement market. Visitors in amusement facilities such as amusement parks such as 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 facilities such as casinos and amusement parks to acquire new customers. Extensive use of social media is expected to drive the amusement market going forward.
Key Industry Players
Major companies operating in the amusements market include <b> China Sports Lottery, China Welfare Lottery, The Walt Disney Company, Sociedad Estatal Loterías y Apuestas del Estado S.A., Maruhan, Flutter Entertainment plc, The Hong Kong Jockey Club, Tabcorp Holdings Ltd., Oriental Land Company Ltd., Penn National Gaming Inc, Comcast Corporation (Universal Studios), Six Flags Entertainment Corporation, Cedar Fair Entertainment Company, SeaWorld Entertainment Inc., Merlin Entertainments, Sony Interactive Entertainment (PlayStation), Nintendo Co. Ltd., Activision Blizzard Inc., Electronic Arts Inc., Capcom Co. Ltd., Bandai Namco Entertainment Inc., Hasbro Inc., Mattel Inc., LEGOLAND Parks, Live Nation Entertainment Inc., ViacomCBS Inc. (Nickelodeon), Discovery Inc. (Discovery Theme Parks), Cineworld Group, AMC Entertainment Holdings Inc., Dave & Buster’s Entertainment Inc., The Hershey Company (Hersheypark), Carnival Corporation (Carnival Cruise Line), Royal Caribbean Group (Royal Caribbean International), SeaDream Yacht Club, Palace Entertainment, Parques Reunidos, Vail Resorts Inc., Dalian Wanda Group (Wanda Cultural Tourism).</b>
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