Amusement Parks Market Characteristics
The amusements parks market consists of sales of amusement park services and related goods by entities (organizations, sole traders and partnerships) that operate amusement parks and theme parks. The businesses in the amusement parks industry operate mechanical rides, water rides, games, shows, theme exhibits, picnic grounds, and amusement arcades which include electronic game arcades, family fun centers, game rooms, indoor play areas, pinball arcades, and video game arcades. Revenues in this market include entry fees and charges for specific rides.
Competitive Landscape of the Amusement Parks Market
Major players in the global amusement parks market include Disney Parks and Resorts, Merlin Entertainment, Universal Studios, Six Flags Entertainment, and Oct Parks China.
Amusement Parks Market Size
The amusement parks market size is expected to reach almost $80 billion in 2021 at a compound annual growth rate (CAGR) of nearly 9% during the forecast period. The growth in the amusement parks market is due to the economic growth in developed nations and increasing public and private investments in the recreation industry.
However, the market for amusement parks is expected to face certain restraints from several factors such as high infrastructure costs, demographic changes and experience fatigue.
Amusement Parks Market Segmentation
The global amusement parks market is further segmented based on type and geography.
By Type - The amusement parks market is segmented into theme parks, water parks, and arcades, parlors and others. Among these three segments, the theme parks market accounts for the largest share in the global amusement parks market.
By Geography - The global amusement parks market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American amusement parks market accounts for the largest share in the global amusement parks market.
Trends in the Amusement Parks Market
Use of IoT technology for better efficiency and guest experience, rising investments in overhauling of old coasters, interactive experiences, and adoption of green energy in amusement parks are some of the major trends witnessed in the global amusement parks market.
Potential Opportunities in the Amusement Parks Market
With the increase in awareness through social media and rising disposable income and the scope and potential for the global amusement parks market is expected to significantly rise in the forecast period.