The Global Market for Amusement and Theme Parks is Forecast to Reach US$44.3 Billion by 2020

Economic Recovery & Growing Middle Class Population in Developing Regions Drive the Amusement & Theme Park Market, According to a New Report by Global Industry Analysts, Inc.

                                                                                                

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Amusement and Theme Parks market. The global market for Amusement and Theme Parks is forecast to reach US$44.3 billion by 2020, driven by the recovery in leisure spending, rise in international tourism, and growth of the middle class population in emerging countries.

The global market for Amusement and Theme parks is on a steady growth path, as theme parks are expected to remain one of the primary destinations for visitors and ride enthusiasts. New theme parks being planned across Europe, Asia, and the Middle East are likely to provide new leisure opportunities for people. Trends in consumer lifestyles, increasing household spending on outdoor activities, and technology developments in animatronics, hydraulics and pneumatics that add hi-tech thrills to entertainment rides, continue to redefine growth in the theme parks industry. The growing base of retired baby boomers devoted to leisure and recreation is forecast to emerge into a lucrative consumer cluster for theme parks. The increase in baby boomer visitors is forcing theme park operators to focus on providing higher quality balanced family entertainment, unlike the hitherto focus on aggressive rides for younger visitors. Use of simulation, virtual reality and augmented reality technologies are gaining momentum. IoT-enabled wristbands, smart applications such as providing predictive analytics based on peak traffic and customer activities, customized mobile apps, and projection of virtual tours as well as holiday-related promotions are some of outstanding IoT technology based benefits offered to theme parks’ visitors.

Rising concerns over theme park injuries and stringent safety standards are resulting in the installation of safety systems, especially for entertainment rides. Innovative hi-tech coasters now incorporate over a thousand sensors to evaluate the load, air pressure as well as weather conditions prior to the launch of the carts. Future advancements are expected to focus on the use of advanced robotics and automatically-guided vehicles (AGV). Regional parks are witnessing faster growth when compared to destination parks, largely due to the availability of facilities and services such as overnight accommodations and water parks. Park within a park concept and customer loyalty programs are some of the other growth driving factors.

As stated by the new market research report on Amusement and Theme Parks, the United States represents the largest market worldwide. Asia-Pacific led by China is expected to emerge as the fastest growing market with a CAGR of 12.2% over the analysis period. The growth in the region is driven by rising disposable incomes, opening of new theme parks by international players, and rise in the number of middle class park visitors. Government focus on promoting tourism and entertainment in emerging markets is expected to boost the growth in attendance and per capita spending on theme parks. The Middle East led by UAE is expected to emerge as the major destination for Theme Parks by 2020, following increasing investment of international players on entertainment and leisure projects in the GCC and UAE.

Key players covered in the report include Blackpool Pleasure Beach, Cedar Fair Entertainment Company, Compagnie des Alpes, Efteling B.V., Everland, Leofoo Tourism Group, Lotte World, Merlin Entertainments, MGM Resorts International, NBCUniversal Media, LLC, Nagashima Spa Land, Oriental Land Company Ltd., Overseas Chinese Town Enterprises Co. (OCT Group), Parques Reunidos, SeaWorld Parks & Entertainment, Inc., Six Flags Entertainment Corp., The Adventuredome, Universal Studios, Walt Disney Company, Yokohama Hakkeijima Sea Paradise, among others.

The research report titled “Amusement and Theme Parks: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, product segment analysis, mergers and  acquisitions, and other strategic industry activities of global companies.  The report provides market estimates and projections for major geographic markets, including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Middle East & Africa, and Latin America.

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