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Family Entertainment Center (FEC) Market Size

Report ID: GMI9715
Published Date: Jun 2024
Report Format: PDF

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Family Entertainment Center Market Size

Family Entertainment Center Market size was valued at USD 28.2 billion in 2023 and is estimated to register a CAGR of over 10.5% between 2024 and 2032. The market growth is propelled by the growing number of new sites established by large corporations. This increase is driven by growing consumer demand for entertainment activities spanning all age groups, offering a mix of entertainment, dining, and interactive experiences. For instance, in February 2022, NEOM and MBC signed an agreement to establish AAA games studios and arcades in Saudi Arabia. This joint venture facilitated gaming and digital publishing in the region.

Family Entertainment Center (FEC) Market

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The companies are strategically expanding their footprint to capture a larger market, using advanced technology and innovative attractions to increase customer engagement. The proliferation of these areas is supported by increased urbanization and disposable income, allowing families to spend more on leisure activities. There is a global shift towards experiential spending, and consumers are prioritizing experience over material goods, driving the market. The fusion of virtual reality, augmented reality, and immersive gaming environments has further increased the appeal of FECs, making them popular options for family outings and social gatherings. As a result, the family entertainment center market is poised for continued growth.

Family Entertainment Center Market Report Attributes
Report Attribute	Details
Base Year:	2023
Family Entertainment Center Market Size in 2023:	USD 28.2 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	10.5%
2032 Value Projection:	USD 70.1 Billion
Historical Data for:	2021 - 2023
No. of Pages:	240
Tables, Charts & Figures:	360
Segments covered:	Center, Revenue Stream, Age Group
Growth Drivers:	Increasing consumer spending on recreational activities Growing investment in development of FEC Increasing consumer participation in VR park Rise in government initiatives for entertainment industry
Pitfalls & Challenges:	High development cost

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The family entertainment center market faces several restraints, including high operating costs and the high initial investment required for advanced equipment and technology. Additionally, the fierce competition from ample markets for entertainment in urban areas may hinder market growth. Economic downturns and changing consumer preferences could also affect visitor numbers. Moreover, safety and liability concerns pose greater challenges, necessitating stricter regulation and rising insurance costs, which may hamper market growth.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of family entertainment center (FEC) reached USD 28.2 billion in 2023 and is set to witness 10.5% CAGR between 2024 and 2032, due to the increasing consumer spending on recreational activities and rising consumer participation in VR park.

The tickets segment is expected to record USD 37.5 billion by 2032, as they offer access to various attractions, including virtual reality experiences and live performances with packaged deals and engaging games.

North America family entertainment center (FEC) industry held 40% revenue share in 2023, driven by rising disposable incomes and a preference for family-oriented leisure activities, bolstered by experiential spending trends.

Altitude Trampoline Park, Bowlero Corp., Dave & Buster's, KidZania, Legoland Discovery Center (Merlin Entertainments), Majid Al Futtaim Leisure and Entertainment, and Punch Bowl Social, among others.