Recreation Coverage

Online Gambling Market Definition

Online gambling refers to gambling activities, whereby players wager something of value on an uncertain event or game, with the possibility of winning something else of value, that are conducted over the internet, with users participating through mobile devices, desktop and others. The online gambling market consists of sales of gambling activities on the internet by entities (organizations, sole traders or partnerships) that operate online gambling facilities to allow the users to wager real time money while playing remotely or from any location in the world.

Amusement Parks Market Definition

Amusement parks are self-contained areas that offer attractions in the form of rides, games and shops to entertain visitors. These parks include shops, rides and restaurants, usually spread over a significant amount of space. The amusement parks market consists of sales of amusement parks entertainment and related services by entities (organizations, sole traders and partnerships) that operate amusement parks and arcades. The amusement parks market also includes sales of amusement arcades, such as family fun centers, pinball arcades and amusement device parlors.

Digital Travel Market Definition And Segments

Digital travel refers to the exploitation of online platforms and technologies to assist the planning, booking, and management of travel-related services such as flights, lodgings, and activities. These platforms comprise a wide range of websites and mobile applications aimed to streamline the travel experience for consumers. The main tour types of digital travel are domestic, international. The domestic segment includes travelers who journey within their own country, exploring various cities, regions, or attractions without crossing national borders. These are used by various tourists such as independent traveler, tour group, package traveler with different age groups such as 26-35 years, 36-45 years, 46-55 years and various consumer orientation such as men, women. The digital travel market covered in this report is segmented – 1) By Tour Type: Domestic, International 2) By Tourist Type: Independent Traveler, Tour Group, Package Traveler 3) By Age Group: 26-35 Years, 36-45 Years, 46-55 Years 4) By Consumer Orientation: Men, Women The digital travel market size has grown rapidly in recent years. It will grow from $372.56 billion in 2023 to $423.94 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The growth in the historic period can be attributed to increasing internet penetration, rising consumer confidence in online transactions, growing availability of smartphones, increasing globalization, increasing integration of social media platforms. The digital travel market size is expected to see rapid growth in the next few years. It will grow to $714.58 billion in 2028 at a compound annual growth rate (CAGR) of 13.9%. The growth in the forecast period can be attributed to increasing integration of artificial intelligence, rising demand for virtual and augmented reality, growing adoption of blockchain technology, growing use of voice-activated assistants, increasing demand for hyper-personalized travel experiences. Major trends in the forecast period include integration of Internet of Things, integration of augmented reality, artificial intelligence, blockchain technology, and innovative software solutions.

Exploring New Horizons The Digital Evolution Of Tourism

The growing popularity of tourism is expected to propel the growth of the digital travel market going forward. Tourism refers to traveling to remote or exotic regions to participate in physically demanding activities or experiences that create a sense of adventure, thrill, and discovery. Digital technology and social media platforms have made it easier for people to research, plan, and book trips. The availability of online travel agencies, booking platforms, and review sites has empowered travelers. Digital travel increases the accessibility, convenience, and attraction of tourism, which is becoming increasingly popular among tourists looking for adventurous and unique experiences. For instance, in June 2023, according to Adventure Travel Trade Association, a US-based non-profit organization, the trip fill rate averaged 65%, marking a significant 52% increase from the levels observed in 2021. Furthermore, in June 2022, according to reports shared by the US Department of Commerce 2021 Highlights, a US-based executive department of the federal government, international arrivals for travel and tourism in US states increased to 22.1 million in 2021 from 19.2 million in 2020. Therefore, the growing popularity of tourism is driving the growth of the digital travel market. Major companies operating in the digital travel market are Oracle Corporation, Uber Technologies Inc., TUI Group, Booking Holdings Inc., Expedia Group Inc., Airbnb Inc., Amadeus IT Group SA, Trip.com Group, Sabre Corporation, WEX Inc., American Express Global Business Travel, Tripadvisor Inc., Orbitz, Travelport International Operations Limited, Hopper Inc., Fareportal Inc., Hotels.com, MakeMyTrip Ltd., Hotel Reservation Service, Kayak Inc., Yatra Online Inc., Tavisca Solutions Pvt. Ltd., Thomas Cook India Ltd., Hurb Co S/A, SABS Travel Technologies

Revolutionizing Travel Lufthansa's Enhanced Digital Companion App

Major companies in the digital travel market prioritize introducing intelligent and advanced solutions, including digital apps, to enhance user experience and streamline travel processes. Digital apps provide convenient access to information, services, and entertainment, often allowing users to customize their experience based on their preferences and needs. For instance, in February 2023, Lufthansa, a Germany-based airline company, launched a digital travel companion app. This app provides travelers with the latest updates and relevant information while traveling with a redesigned and optimized interface. Additionally, the new software has self-service tools to assist travelers during operational peaks, an easy-to-use digital wallet for seamless payment processing, and an intuitive check-in procedure.

Amadeus Expands Travel Payment Solutions Acquires Voxel

In March 2024, Amadeus, a Spain-based technology company, acquired Voxel for an undisclosed amount. With this acquisition, Amadeus gained access to a broader range of payment services for travel sellers and a more automated electronic way to manage invoices for various entities in the travel sector, including tour operators, TMCs, hotel aggregators, and hotels. Voxel is a US-based technology company that offers digital travel solutions, specifically focusing on electronic invoicing and B2B payment solutions for the travel industry.  Asia-Pacific was the largest region in the digital travel market in 2023. The regions covered in the digital travel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the digital travel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The digital travel market includes revenues earned by online booking platforms, transportation services, and accommodation booking. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The digital travel market research report is one of a series of new reports from The Business Research Company that provides digital travel market statistics, including digital travel industry global market size, regional shares, competitors with a digital travel market share, detailed digital travel market segments, market trends and opportunities, and any further data you may need to thrive in the digital travel industry. This digital travel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Location-Based Entertainment Market Definition And Segments

Location-based entertainment (LBE) refers to a type of entertainment experience that takes place in a specific physical site or venue, such as amusement parks and themed entertainment venues, and frequently employs immersive technologies to enhance the visitor's engagement and enjoyment. These experiences often incorporate elements of virtual reality (VR), augmented reality (AR), or other immersive technologies to create immersive worlds and storytelling environments. The main offerings of location-based entertainment are hardware, software, and services. Location-based entertainment hardware refers to the physical equipment and devices utilized in venues such as amusement parks and arcades for immersive experiences like virtual reality (VR) attractions and interactive gaming. The various technologies include 2D, 3D, and cloud-merged reality (CMR), which are utilized by various end users, such as amusement parks, arcade studios, and 4D films. The location-based entertainment market covered in this report is segmented – 1) By Offerings: Hardware, Software, Services 2) By Technology: 2 Dimensional (2D), 3 Dimensional (3D), Cloud Merged Reality (CMR) 3) By End-Use: Amusement Parks, Arcade Studios, 4D Films The location-based entertainment market size has grown exponentially in recent years. It will grow from $3.05 billion in 2023 to $3.86 billion in 2024 at a compound annual growth rate (CAGR) of 26.4%. The growth in the historic period can be attributed to pop culture tie-ins, social media influence, urbanization, family and group activities, and experiential spending trends. The location-based entertainment market size is expected to see exponential growth in the next few years. It will grow to $9.91 billion in 2028 at a compound annual growth rate (CAGR) of 26.6%. The growth in the forecast period can be attributed to the integration of artificial intelligence, expansion into emerging markets, sustainability and eco-friendly initiatives, cross-industry collaborations, and shift towards hybrid experiences. Major trends in the forecast period include integration of augmented reality (AR), immersive experiences, adoption of virtual reality (VR), emphasis on interactive attractions, and advancement in technology.

Increasing Consumer Spending On Games And Video Content Enhanced Growth Of The Location-Based Entertainment Market

Increasing consumer spending on games and video content is expected to propel the growth of the location-based entertainment market going forward. Consumer spending on games and video content refers to the amount of money individuals spend on purchasing or subscribing to video games, downloadable content, in-game purchases, streaming services, and other related digital entertainment products. Increasing consumer spending on games and video content reflects growing demand for digital entertainment experiences, immersive gaming experiences, and a shift towards online streaming platforms. Consumer spending on games and video content helps bolster location-based entertainment by showcasing the potential for immersive experiences, driving interest in similar interactive and experiential offerings at physical venues. For instance, in February 2024, according to data published by the Entertainment Software Association, a US-based trade association of the video game industry, total video game sales surged to $57.2 billion in 2023, marking an increase from the $56.6 billion recorded in 2022. The rise was primarily fueled by a boost in video game content spending, which rose to $48.0 billion from $47.5 billion in 2022. Therefore, increasing consumer spending on games and video content is driving the growth of the location-based entertainment market. Major companies operating in the location-based entertainment market are Google LLC, Samsung Electronics Co. Ltd., Microsoft Corporation, Meta Platforms Inc., Huawei Technologies Co. Ltd., The Walt Disney Company, Panasonic Corporation, Nvidia Corporation, Regal Entertainment Group, Unity Technologies Inc., AEON Fantasy Co. Ltd., Sony Interactive Entertainment LLC, Magic Leap Inc., HTC Corporation, Niantic Inc., Barron Games International LLC, Bob’s Space Racers Inc., HQ Software LLC, Habo Studio Inc., CamOnApp S.A., E-Learning Studios Ltd., SpringboardVR Inc., BidOn Games Studio LLC, VRstudios LLC

Enhancing Entertainment Experiences Through Advanced Virtual Reality Technology

Major companies operating in the location-based entertainment market are focused on developing innovative solutions, such as advanced virtual reality technologies, to enhance immersive experiences and attract a wider audience. Virtual reality technology in location-based entertainment creates immersive digital environments that users can interact with in physical spaces, enhancing the overall entertainment experience. For instance, in September 2022, Shanghai Disney Resort, a China-based theme park, opened SoReal VR SuperSpace, an immersive virtual reality (VR) experience in its Disneytown shopping, dining, and entertainment district. This will be Shanghai's first flagship store. The two-story venue features VR experiences on the first floor and an immersive VR walkthrough on the second. This innovative addition, developed by SoReal, a China-based VR company, enhances visitor engagement and entertainment options within Disneytown.

Lionsgate's Acquisition Of Eone Expands Entertainment Portfolio And Global Reach

In December 2023, Lionsgate, a US-based motion picture company, acquired entertainment platform eOne from Hasbro for $375 million. With this acquisition, Lionsgate enriches its library with 6,500 film and television titles, enhances its scripted and unscripted television divisions, and increases its footprint in Canada and the UK. Hasbro is a US-based play and entertainment company that provides location-based entertainment. North America was the largest region in the location-based entertainment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the location-based entertainment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the location-based entertainment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The location-based entertainment market consists of revenues earned by entities by providing services such as gameplay, storytelling, projection mapping, and others. The market value includes the value of related goods sold by the service provider or included within the service offering. The location-based entertainment market also includes sales of virtual reality (VR) headsets, augmented reality (AR) devices, interactive controllers, and audio systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The location-based entertainment research report is one of a series of new reports from The Business Research Company that provides location-based entertainment market statistics, including the location-based entertainment industry's global market size, regional shares, competitors with a location-based entertainment market share, detailed location-based entertainment market segments, market trends and opportunities, and any further data you may need to thrive in the location-based entertainment industry. This location-based entertainment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Virtual Reality (VR) Fitness Game Market Definition And Segments

A Virtual Reality (VR) fitness game refers to a video game or interactive experience that incorporates virtual reality technology to provide users with a physically engaging and immersive workout experience. These games often feature a variety of activities, such as cardio exercises, strength training, yoga, dance workouts, and sports simulations, designed to target different muscle groups and fitness goals. The main type of virtual reality (VR) fitness encompasses music rhythm games, boxing, and fighting games, and others. Music rhythm games in the VR fitness game market are those that synchronize gameplay with the beat and rhythm of music, requiring players to move their bodies in time with the music. The connecting device includes a gaming console, PC Or desktop, and smartphone. The various applications included are single-player fitness, and multiplayer fitness. The virtual reality (VR) fitness game market covered in this report is segmented – 1) By Type: Music Rhythm Games, Boxing And Fighting Games, Other Types 2) By Connecting Device: Gaming Console, PC Or Desktop, Smartphone 3) By Application: Single-Player Fitness, Multiplayer Fitness The virtual reality (VR) fitness game market size has grown strongly in recent years. It will grow from $12.16 billion in 2023 to $13.08 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to increased interest in virtual reality technology, demand for immersive and engaging workout experiences, increased availability of VR headsets, growth in popularity of gamified fitness solutions, and increased use of VR fitness games. The virtual reality (VR) fitness game market size is expected to see strong growth in the next few years. It will grow to $17.73 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to the rising popularity of VR arcades, growing integration of VR fitness into the home workout, rising awareness of the mental health benefits, increasing demand for VR fitness challenges, growing adoption of VR fitness games in senior care facilities. Major trends in the forecast period include the adoption of VR technology, technological advancements, VR fitness innovation, personalized workouts, and biofeedback sensors.

Increase In The Popularity Of Gaming Apps Driving VR Reality (VR) Fitness Game

The increase in the popularity of gaming apps is expected to propel the growth of the virtual reality (VR) fitness game market going forward. Gaming apps are programs intended for entertainment and frequently include interactive gameplay experiences. The increase in the popularity of gaming apps can be attributed to factors such as immersive experiences, a diverse range of workouts, and enhanced privacy features. VR fitness games integrate virtual reality technology into gaming applications to provide immersive and engaging experiences focused on physical exercise and health. For instance, in January 2024, according to Business of Apps, a UK-based B2B media and information platform, 148.2 billion applications and games were downloaded in 2023, a 3.9% rise from 2022. Therefore, the increase in the popularity of gaming apps is driving the growth of the virtual reality (VR) fitness game market. Major companies operating in the virtual reality (VR) fitness game market are Meta Platforms Inc., Sony Interactive Entertainment LLC, Valve Corporation, HTC Corporation, Resolution Games AB, Joyway Technology Co Ltd., Fit Club, Survios Inc., Fit Reality Inc., FitXR Limited, Blue Goji, Kluge Interactive, Within Unlimited Inc., Icaros GmbH, Virtuix Holdings Inc., Black Box VR Inc., Sealost Interactive LLC, YUR Inc., GymCraft Ltd., Reflexion Interactive Technologies, Holodia, Virtuleap, VREX, Synth Riders, Cmoar Studio

Technological Advancements Revolutionizing Fitness

Major companies operating in the virtual reality (VR) fitness market are focused on developing advanced products with technology such as virtual reality fitness apps, to help users achieve their fitness goals. Virtual reality (VR) fitness apps are applications or software programs that leverage virtual reality technology to provide users with interactive and immersive fitness experiences. For instance, in April 2021, VirZOOM, Inc., a US-based technology company, launched the VZfit fitness app for Oculus Quest 1 & 2 devices, featuring patented motion control technology. This technology maps images onto a 3D environment, providing immersive experiences without motion discomfort while users work out and explore Google Maps Street View. The users can enjoy full-body workouts or connect smart bike devices for cycling workouts. Additional features include alerts for points of interest, social media sharing, multiplayer options, Strava and Fitbit integration, music streaming, and personalized coaching.

Meta Acquired Within To Expand Its Reach In The Fitness Market

In February 2023, Meta Platforms, Inc., a US-based technology company, acquired Within Inc. for an undisclosed amount. The acquisition was aimed to enhance Meta Platforms, Inc.'s position in the virtual reality (VR) fitness market and strengthen its offerings in the VR and augmented reality (AR) space. Within Inc. is a US-based technology company that provides virtual reality (VR) fitness apps. North America was the largest region in the virtual reality (VR) fitness game market in 2023. The regions covered in the virtual reality (VR) fitness game market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the virtual reality (VR) fitness game market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The virtual reality (VR) fitness game market consists of sales of VR fitness platforms, VR fitness accessories, and VR fitness apps. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The virtual reality (VR) fitness market research report is one of a series of new reports from The Business Research Company that provides virtual reality (VR) fitness market statistics, including the virtual reality (VR) fitness industry global market size, regional shares, competitors with virtual reality (VR) fitness market share, detailed virtual reality (VR) fitness market segments, market trends, and opportunities, and any further data you may need to thrive in the virtual reality (VR) fitness industry. This virtual reality (VR) fitness market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Arts And Crafts Market Definition And Segments

Arts and crafts refer to the handcrafting and decoration of utilitarian objects, often promoting handcraftsmanship over industrial mass production. It is characterized by simple functional design, natural motifs, and the use of artistic and practical skills in creating objects such as jewelry, pottery, and other decorative items. The main types of arts and crafts are painting and drawing, sewing and fabric, paper crafts, kids' crafts, arts and crafts tools, and others. Painting involves applying pigments to a surface to create images or compositions, while drawing entails creating images using lines, marks, or shading on a surface, both of which serve as fundamental forms of visual expression. Various types of materials are used, including traditional materials, recycled and upcycled materials, and mixed media, to target several types of audiences such as children’s crafts, adult crafts, and senior crafts. These are distributed through brick-and-mortar retailers and online platforms for personal use and commercial applications. The arts and crafts market covered in this report is segmented – 1) By Type: Painting and Drawing, Sewing and Fabric, Paper Crafts, Kids Crafts, Arts and Crafts Tools, Other Types 2) By Materials Used: Traditional Materials, Recycled and Upcycled Materials, Mixed Media 3) By Target Audience: Children’s Crafts, Adult Crafts, Senior Crafts 4) By Distribution Channels: Brick-and-Mortar Retailers, Online Platforms 5) By Application: Personal Use, Commercial Use The arts and crafts market size has grown strongly in recent years. It will grow from $41.60 billion in 2023 to $44.71 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to growth of eco-friendly and sustainable products, celebration of cultural diversity, growth of giving gifts culture, increased instruction and workshops, and customer preference for personalization. The arts and crafts market size is expected to see strong growth in the next few years. It will grow to $60.50 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to growing digital transformation, increasing personalization, increasing cross-sector influences, growing interest in DIY (do-it-yourself)culture, and increasing disposable income. Major trends in the forecast period include tech-integrated crafts, product innovation, technological advancements, integration of technologies, and growing collaborations.

Boost In Government Funding Fuels Growth In The Arts And Crafts Market

Increasing government funding for arts and crafts is expected to propel the growth of the arts and crafts market going forward. Government funding refers to the funding for the programs or policies implemented by a government to address specific social, economic, environmental, or political issues within a country or region. Governments can help ensure that arts and crafts continue to thrive as a vibrant part of the economy and culture, supporting not only individual artists and craftspeople but also the broader community. For instance, in August 2023, according to the Americans for the Arts, a US-based non-profit organization, local government funding to local arts agencies reached $1.01 billion in 2023, representing a 7.5% increase from 2022. Therefore, increasing government funding for arts and crafts drives the arts and crafts market. Major companies operating in the arts and crafts market report are FILA Group LLC; Hobby Lobby Stores Inc.; Michaels Stores Inc.; Shanghai M&G Stationery; Etsy Inc.; Newell Brands Inc.; Société Bic S.A.; Jo-Ann Stores Inc.; Fiskars Group; Crayola LLC; IG Design Group PLC; Pilot-Pen; Pelikan International Corporation; Mundial SA; Kokuyo Camlin Ltd.; Arteza LLC; Westcott; Asian Handicrafts Pvt. Ltd.; Pentel; Faber-Castell AG; CREA Innovations Ltd.; Beifa Group Co. Ltd.; Laizhou Zhonghe Arts and Crafts Co. Ltd.

Innovative Crafting Tools Propel Market Growth As Companies Aim For Competitive Advantage

Major companies operating in the arts and crafts market are developing innovative products such as specialized crafting tools, to gain a competitive edge in the market. Specialized crafting tools can significantly expand the creative possibilities for a crafter, enabling more intricate and professional results. These tools are often essential in turning a crafting hobby into a viable professional practice. For instance, in April 2024, D & L Craftworkz, an Australia-based manufacturer of arts and crafts materials, launched a range of arts and crafts supplies for enthusiasts and professionals in Australia. This new collection offers a comprehensive array of tools and materials essential for turning imaginative visions into reality. The new range of products includes D & L Air-dry clay, which is a versatile and low-cost material suitable for both children and adult crafts, from preschool art projects to handmade wedding decorations.

DecoArt Expands Market Reach With Strategic Acquisition Of Jack Richeson

In August 2022, DecoArt LLC, a US-based manufacturer of paints and finishes for arts, crafts, and home decorating applications, acquired Jack Richeson for an undisclosed amount. The acquisition is anticipated to bolster DecoArt's standing in the art supplies market through the broadening of its product range and market presence. Simultaneously, Jack Richeson is poised to leverage DecoArt's resources and expertise to expedite its expansion and cultivate a larger customer demographic. Jack Richeson is a US-based arts and crafts company that specializes in manufacturing fine art materials. North America was the largest region in the arts and crafts market in 2023. The regions covered in the arts and crafts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the arts and crafts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The arts and crafts market consists of sales of roasted craft kits, decorative items, stationery, and home goods. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The arts and crafts market research report is one of a series of new reports from The Business Research Company that provides arts and crafts market statistics, including arts and crafts industry global market size, regional shares, competitors with an arts and crafts market share, detailed arts and crafts market segments, market trends and opportunities, and any further data you may need to thrive in the arts and crafts industry. This arts and crafts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Metaverse In Gaming Market Definition And Segments

The metaverse in gaming refers to a virtual shared space where users can interact with each other and digital assets in real-time, often across multiple platforms and games. It's a convergence of virtual reality, augmented reality, and the internet, aiming to create immersive, persistent worlds beyond individual game experiences. The main components of metaverse in gaming are hardware, software, and services. Hardware in metaverse gaming refers to the physical devices and equipment used to access and interact with virtual environments, including VR headsets, motion controllers, and haptic feedback devices. The technologies such as non-fungible token (NFT), blockchain, virtual reality, augmented reality, mixed reality, and extended reality for genres are action, adventure, role-playing games (RPGs), simulation, sports and racing, strategy, sandbox, card and casino games, and others for various age groups such as below 21 years, 21 - 35 years, 36 - 50 years, and 51 years and above. The metaverse in gaming market covered in this report is segmented – 1) By Component: Hardware, Software, Services 2) By Technology: Non-Fungible Token (NFT), Blockchain, Virtual Reality, Augmented Reality, Mixed Reality, Extended Reality 3) By Genre: Action, Adventure, Role-Playing Games (RPGs), Simulation, Sports And Racing, Strategy, Sandbox, Card And Casino Games, Other Genres 4) By Age Group: Below 21 Years, 21 - 35 Years, 36 - 50 Years, 51 Years And Above The metaverse in gaming market size has grown exponentially in recent years. It will grow from $33.6 billion in 2023 to $47.7 billion in 2024 at a compound annual growth rate (CAGR) of 42%. The growth in the historic period can be attributed to growing popularity of owning virtual assets such as NFTs, the development of gaming, development of VR and AR-related games, and research and development in metaverse. The metaverse in gaming market size is expected to see exponential growth in the next few years. It will grow to $194.92 billion in 2028 at a compound annual growth rate (CAGR) of 42.2%. The growth in the forecast period can be attributed to expanding implementations of metaverse, the rising popularity of AR and VR, rapidly rising popularity of play-to-earn games, demand for immersive gaming experiences, and rising investment. Major trends in the forecast period include advancements in VR software, technological developments, innovative marketing strategies, enhancement of gaming experience through integration of 3D technology, and rapid advancements in gaming software.

Role Of Augmented Reality (AR) And Virtual Reality (VR) Enhanced Metaverse In Gaming Market

The rising popularity of augmented reality (AR) and virtual reality (VR) is expected to propel the growth of the metaverse in the gaming market going forward. Augmented reality (AR) enhances the real world with digital content, while virtual reality (VR) immerses users in entirely digital environments through specialized headsets. The growing popularity of AR and VR stems from their ability to provide immersive, interactive experiences across gaming, education, healthcare, and entertainment, transforming digital content interaction and real-world engagement. AR and VR use the metaverse in gaming to create immersive and interconnected virtual experiences, allowing players to interact with each other and digital environments seamlessly, enhancing gameplay and social interaction. For instance, in February 2023, according to XR Today, a UK-based technology podcast company, approximately 57.4 million people in the United States owned a VR headset in 2020, and this figure had risen to 37.7 million in 2022. Therefore, the rising popularity of AR and VR is driving the growth of the metaverse in the gaming market. Major companies operating in the metaverse in gaming market are Microsoft Corporation, Meta Platforms Inc., Sony Corporation, Fujitsu Limited, Nvidia Corporation, WPP plc, NetEase Inc., Electronic Arts Inc., Vertiv Group Corporation, Epic Games Inc., Autodesk Inc., Roblox Corporation, Unity Software Inc., Axie Infinity, Magic Leap Inc., Kellton Tech Solutions Ltd., LeewayHertz Inc., Aetsoft Inc., Aptos Labs, SmartMedia Technologies Inc., Spatial Systems Inc., The Sandbox

Community-Driven Gaming Platforms Shaping The Metaverse Landscape

Major companies operating in the metaverse in the gaming market are focusing on the development of advance platforms such as community-driven gaming platforms to enhance immersive experiences and foster user engagement. These platforms harness the collective creativity, passion, and expertise of players to shape the gaming experience and create vibrant, thriving communities. For instance, in January 2024, Nifty Island LLC, a US-based play-to-earn gaming platform, launched its open beta version of metaverse games, offering players a unique gaming experience with avatars from renowned non-fungible token (NFT) collections such as Azuki, Bored Apes, CloneX, and CoolCats. Additionally, Nifty Island's play-to-airdrop system, which rewards players with tokens and NFTs for their participation and enhances the connection between the game and the broader Web3 ecosystem, offers crypto rewards that align with the principles of the metaverse as a decentralized and interconnected virtual space.

Microsoft's Completes Acquisition Of Activision Blizzard Inc.

In January 2022, Microsoft Corporation, a US-based technology company, acquired Activision Blizzard Inc. for $68.7 billion. This acquisition aims to accelerate Microsoft's gaming business across various platforms, such as mobile, PC, console, and cloud. It is also expected to provide building blocks for the metaverse, emphasizing the importance of gaming in the development of metaverse platforms. Activision Blizzard Inc. is a US-based video game company specializing in the metaverse gaming space. North America was the largest region in the metaverse in gaming market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the metaverse in gaming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the metaverse in gaming market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The metaverse in gaming market consists of revenues earned by entities by providing services such as cloud gaming services, subscription-based access, personalization, and customization. The market value includes the value of related goods sold by the service provider or included within the service offering. The metaverse in the gaming market also includes sales of gaming consoles, motion controllers, haptic feedback devices, specialized input devices, and high-performance PCs. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The metaverse in gaming research report is one of a series of new reports from The Business Research Company that provides metaverse in gaming market statistics, including the metaverse in gaming industry's global market size, regional shares, competitors with a metaverse in gaming market share, detailed metaverse in gaming market segments, market trends and opportunities, and any further data you may need to thrive in the metaverse in gaming industry. This metaverse in gaming market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Fan Engagement Market Definition And Segments

Fan engagement refers to the interaction process between a club and a particular entity, such as a sports team, musician, brand, or celebrity, focusing on how clubs communicate, listen to, and involve fans in the club's day-to-day operations and decision-making. It emphasizes both online and offline interactions where fans voluntarily engage in team-creating value and providing support directly through actions such as attending games or purchasing merchandise, as well as indirectly through recommendations, volunteering, and other supportive behaviors. The main types of engagement for fan engagement include personalized messages, live video calls, master classes, and others. Personalized Messages refer to customized communications geared to individual fans, generally provided via social media, email, or direct messaging services. These provide various user locations such as tier-1 cities, and tier-2-3 cities. These are used for several applications including entertainment, art, social media personalities, music, and others. The fan engagement market covered in this report is segmented – 1) By Engagement Type: Personalized Messages, Live Video Calls, Master classes, Other Engagement Types 2) By User Location: Tier-1 Cities, Tier-2-3 Cities 3) By Application: Entertainment, Art, Social Media Personalities, Music, Other Applications The fan engagement market size has grown exponentially in recent years. It will grow from $5.54 billion in 2023 to $6.69 billion in 2024 at a compound annual growth rate (CAGR) of 20.7%. The growth in the historic period can be attributed to the offering of virtual reality experiences for fans, arranging fan meet-ups with drivers, conducting fan polls for decision-making, participating in charity events to engage fans, hosting fan appreciation events and exclusive parties. The fan engagement market size is expected to see exponential growth in the next few years. It will grow to $14.40 billion in 2028 at a compound annual growth rate (CAGR) of 21.2%. The growth in the forecast period can be attributed to the increasing popularity of sports and entertainment, personalized content recommendations based on fans' favorites, social media interaction with fans, behind-the-scenes content sharing, and interactive Q&A sessions with fans. Major trends in the forecast period include advancements in technology, community building, AI-powered personalization, smart stadiums, and innovative engagement strategies.

Surging Popularity Of Sports Fuels Growth In The Fan Engagement Market

The increasing popularity of sports is expected to propel the growth of the fan engagement market going forward. Sports refer to physical activities or games that involve structured competition between individuals or teams, often governed by rules or regulations. The popularity of sports is increasing due to advancements in technology and communication, increasing entertainment value, social interaction, and health benefits. Fan engagement catalyzes the popularity of sports by building a passionate and loyal fan base, driving viewership and attendance, attracting media coverage, generating revenue opportunities, and encouraging active participation and involvement. For instance, in December 2021, according to Pepperdine Digital Commons, a US-based digital repository and publication platform, sports franchises grew from 2.4% in 2021 to 5.0% in 2022. Furthermore, in May 2022, according to a report published by the Sports & Fitness Industry Association (SFIA), a US-based trade association of sports and fitness brands, participation in sports and activities increased by 1.3% in 2021 compared to last year. Therefore, the increasing popularity of sports and entertainment is driving the growth of the fan engagement market. Major companies operating in the fan engagement market are Samsung Electronics Co. Ltd., Microsoft Corporation, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, SAP SE, Salesforce Inc., Infosys Limited, Wipro Limited, LISNR Inc., Factoreal Systems Inc., Genius Sports, Medallion Arts Inc., InCrowd Sports Ltd., Onefootball, Choicely, Scribble Technologies Inc., Corite, Star Shoutout Inc., Show4me

Enhancing Fan Engagement Through Personalized Marketing Technology

Major companies operating in the fan engagement market are developing advanced customer engagement tools, such as FanID, to improve products, services, and overall fan experiences. FanID is a unique identifier or digital identity used in the sports industry to enhance fan engagement and personalized marketing efforts. For instance, in January 2024, Sportradar AG, a Switzerland-based sports technology company, launched FanID, a one-of-a-kind marketing technology that personalizes fan engagement for sports rights holders and companies. This tool seeks to provide a better insight into fans' interests and purchasing intentions while increasing the value they bring sponsors. FanID facilitates scalable, direct connections with fans via personalized, timely, and relevant advertisements. To efficiently deliver personalized digital advertising material to fans, the method requires data gathering, connection, activation, and orchestration.

Patron Technology Boosts Fan Engagement With Acquisition Of Fan Interactive Marketing LLC

In January 2023, Patron Technology, a US-based software company offering a comprehensive suite of event technology solutions, acquired Fan Interactive Marketing LLC for an undisclosed amount. This acquisition aims to boost fan engagement and provide data-driven marketing solutions for live entertainment organizations, allowing them to interact more deeply and creatively with fans. Fan Interactive Marketing LLC is a US-based company that enhances customer engagement and understands customer behavior to optimize marketing strategies. North America was the largest region in the fan engagement market in 2023. The regions covered in the fan engagement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the fan engagement market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The fan engagement market includes revenues earned by entities by providing services such as consulting and strategy development, data analytics and insights, customer support and engagement, and event management and related services also includes sales of digital platforms and apps, wearable technology, beacon technology, and live streaming platforms. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The fan engagement market research report is one of a series of new reports from The Business Research Company that provides fan engagement market statistics, including fan engagement industry global market size, regional shares, competitors with a fan engagement market share, detailed fan engagement market segments, market trends and opportunities, and any further data you may need to thrive in the industry. This fan engagement market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.