Global Recreation Market Trends And Strategies Of Major Players In The Recreation Market 2021-2030
16 Jun, 2021
The recreation market consists of sales of the use of recreational facilities, and recreational services and related goods by entities (organizations, sole traders, and partnerships) that provide recreational services. Recreational activities include taking part in sporting activities and visiting museums, historical sites, zoos and parks and also witnessing spectator sports and events. Gambling except casino hotels can also be considered to be part of recreation market.
Global Recreation Market Size And Drivers:
The global recreation market is expected to grow from $1253.24 billion in 2020 to $1425.74 billion in 2021 at a compound annual growth rate (CAGR) of 13.8%. 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 $1916.35 billion in 2025 at a CAGR of 8%. The recreation market growth is aided by stable economic growth forecasted in many developed and developing countries.
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Trends In The Global Recreation Market
Amusement parks are increasingly using virtual and augmented reality technology to provide an immersive experience to customers. 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.
Global Recreation Market Segments:
The global recreation market is further segmented based on type and geography.
1) By Type: Amusements, Arts, Sports
Sub segments Covered: Amusement Parks, Gambling, Museums, Historical Sites, Zoos, And Parks, Independent Artists And Performing Art Companies, Sports And Arts Promoters, Spectator Sports, Participatory Sports
By Geography: The global recreation market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global recreation market, accounting for 33% of the market in 2020.
Read More On The Report For The Global Recreation Market At:https://www.thebusinessresearchcompany.com/report/recreation-global-market-report-2020-30-covid-19-impact-and-recovery
Recreation Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides recreation market overviews, analyzes and forecasts market size and growth for the global recreation market, recreation market share, recreation market players, recreation market segments and geographies, recreation market’s leading competitors’ revenues, profiles and market shares. The recreation market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.