Market Snapshot:
The increasing gaming industry during the time of the pandemic will help to boost the global Location-based VR Entertainment LBE market in the forecasted period. Location-Based Entertainment (LBE) is the talk of the town, from big-budget immersive experiences such as Ghostbusters: Dimension, to game-changing arcade experiences like Mario Kart VR. These experiences physically locate the players in a custom-built room, equipped with high-end VR devices that are either installed locally or worn as a backpack. It’s been predicted that by 2023, location-based entertainment (LBE) will make up around 11% of the virtual reality (VR) industry. This sector of the industry is going from strength to strength because of the unique, shared entertainment it offers it’s the next generation of laser tag a differentiated, exciting experience that brings people together for memorable moments. China is the country where LBE points in shopping centers are opened especially fast. It happens because online shopping is highly cultured, and people do not go to shopping malls just for shopping. One year ago Viveland was opened by HTC in Taipei. It’s a 330-square-meter virtual reality arcade. Naturally, the largest number of arcades appears in Asia. According to Vive, 3 000 places with VR arcades were opened in China alone in 2016.
Highlights from Location based VR Entertainment LBE Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 202 |
High Growth Market | Asia Pacific |
Largest Market | North America |
Unit | Value (USD Million) |
CAGR | 28.0% |
The key Players profiled in the report are Exit reality (United States), Springboard VR (United States), eTeam (China), HTC Corporation (Taiwan), IMAX Corporation (Canada), The VOID LLC (United States), VR Studios Inc (United States), HQ Software (United States), Yue Cheng Technology (China), MOFABLES (Poland), NEXT NOW (United States) and BidOn Games Studio (Ukraine).
Geographic Breakdown and Segment Analysis
The Global Location based VR Entertainment LBE market presents a comprehensive analysis of the Location based VR Entertainment LBE market by product type (Non-immersive, Semi-immersive and Fully-immersive simulations), by end-user/application (VR Arcades, VR Theme Parks and VR Cinemas), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Location based VR Entertainment LBE industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest. For instance, while the North America holds majority of market share of the Location based VR Entertainment LBE market, the Europe has emerged as a crucial market for several Location based VR Entertainment LBE brands.
Analyst at AMA have segmented the market study of Global Location based VR Entertainment LBE market by Type, Application and Region.
Influencing Trend:
The growing trends of virtual reality (VR) and augmented reality (AR) games and The emergence of mix the AR and VR technology with 3-D projection mapping
Market Growth Drivers:
The introduction of entertainment centers games and Upsurging demand due to increasing popularity of the various games
Challenges:
The technological complexities
Restraints:
The key issues faced by the designers of location-based VR entertainment content
Opportunities:
Technology innovations such as new games include simulation games and The increasing popularity of real life in the form of a game
Market Developments Activities:
On 3rd Feb 2021, ArborXR has launched as a new enterprise-focused company emerging from the sale of SpringboardVR, a leading provider of VR venue management software and the largest content marketplace for location-based entertainment (LBE), to Vertigo Games, the multi-platform VR publisher and developer best known for “Arizona Sunshine.”
In February 2021- Springboard VR, a VR venue management software and content marketplace provider for LBE, was acquired by Vertigo Games, a VR publisher and game developer. The acquisition aimed to provide operators with access to VR content via Vertigo Games' Haze VR distribution platform, as well as new tools and technology to help both game studios and operators expand their LBE business.
The Global market of Location-based VR Entertainment LBE is included more number of player which provides a high number of services so the global market is less competition. In the worldwide market of Location-based VR Entertainment LBE, the presented companies follow the new launch or innovation of products for increasing their revenue and growth.
Key Target Audience
Government Regulatory Bodies, Private Research Organization, Government Research Organization and Others