The Business Research Company’s Amusement Parks Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, April 26, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Amusement parks are increasingly using virtual and augmented reality technology to enhance customer experience. These are among major amusement parks industry trends. Virtual reality is a 3D, computer generated environment which can interact with a person, whereas augmented reality turns an environment into a digital interface by placing virtual objects in the real world. Amusement parks are implementing this technology in rides and theater-based attractions. For instance, Plopsaland De Panne in De Panne, Belgium has a new virtual reality wooden roller coaster called Heidi the Ride, which can reach speeds of more than 43 mph. Amusement park SeaWorld has started operating a new Kraken Virtual Reality Roller Coaster in Orlando. The Weave Breaker coaster brings the reality of jet skiing in an amusement park. Universal Studios have The Walking Dead mazes with augmented reality elements.
The amusement parks and arcades market consists of sales of amusement parks and arcades entertainments and related goods by entities (organizations, sole traders and partnerships) that operate amusement parks and arcades. The amusement parks and arcades market also includes sales of amusement arcades such as family fun centers, pinball arcades and amusement device parlors. It includes sales of entry fees and ticket sales for rides, games, food and beverages, merchandise goods, and hotels and resorts. However, this market excludes sales of exclusive restaurants such as fast-food chains operating within the amusement parks. Amusement and theme park companies operate mechanical rides, water rides, water games (includes both spectator sports and crowd engagement games), events, games, shows, themed exhibits, refreshment stands and other visitor attractions for entertainment.
The major players covered in the theme park industry are Disney Parks and Resorts, Merlin Entertainment, Universal Studios, Six Flags Entertainment, and Oct Parks China.
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The global amusement parks market is expected to grow from $51.67 billion in 2020 to $63.89 billion in 2021 at a compound annual growth rate (CAGR) of 23.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $89.17 billion in 2025 at a CAGR of 9%.
North America has the largest amusement parks market share, accounting for 33% of the market in 2020. Asia Pacific is the second largest region accounting for 30% of the global market. Africa is the smallest region in the global amusement parks market.
The global amusement parks market is segmented by type into theme parks, water parks, amusement arcades, by revenue source into tickets, merchandise, food and beverages, hotels & resorts, others, by age group into below 25 years, 25 to 39 years, 40 to 59 years, 60 to 74 years, 75 years and above, and by visitors’ sex into male, female.
Amusement Parks Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides amusement parks market overview, forecast amusement parks market size and growth for the whole market, amusement parks market segments, and geographies, amusement parks market trends, amusement parks market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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