The amusements market consists of sales of amusements by entities (organizations, sole traders and partnerships) that provide facilities for recreation, amusement, and gambling activities, and operate sports teams, clubs, or leagues, involved in playing games for recreational purposes. The industry includes busiensses that offer participant games and sports facilities. Establishments using transportation equipment to provide recreational and entertainment services are not included in this industry.
The global amusements market is expected to decline from $595.1 billion in 2019 to $567.1 billion in 2020 at a compound annual growth rate (CAGR) of -4.8%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $681.9 billion in 2023. Asia Pacific was the largest region in the global amusements market, accounting for 37% of the market in 2019. North America was the second largest region accounting for 30% of the global amusements market. Middle East was the smallest region in the global amusements 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 43mph. 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 major players in the global amusements market are The Walt Disney Company, Las Vegas Sands Corp, Universal Studios Inc, MGM Resorts, Merlin Entertainment Group
The countries covered in the global amusements market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam
The Global Amusements Market is segmented:
1) By Type: Amusement Parks, Gambling Subsegments Covered: Theme Parks, Water Parks, Amusement Arcades, Casino, Lotteries, Sports Betting, Others - Gambling, Below 25 years, 25 to 39 years, 40 to 59 years, 60 to 74 years, 75 years and Above, Male, Female, Offline Gambling, Online Gambling, VR Gambling