Location Based Entertainment Market Analysis, Size, Growth, Share & Forecast to 2025 | Grand View Research Inc.
“Location Based Entertainment Market Size Worth $7.8 Billion By 2025�
The global location-based entertainment market size is expected to reach USD 7.8 billion by 2025, registering a 32.1% CAGR from 2019 to 2025, according to a new study by Grand View Research, Inc. The market is expected to grow owing to the rising adoption of virtual reality electronic units in the entertainment sector. Virtual reality has made a tremendous change in gaming and has given the players a platform to be a part of the virtual world with a real life-like feel and experience without actually being present at the location or field. Location-based entertainment (LBE) is among the fastest growing segment in the VR market. To gain competitive advantage, operators are focusing on offering the content and experience which can distinguish LBE from the increasing adoption of in-home system. Location-based entertainment service encompasses arcade, theme park, and entertainment service. The companies are using various VR headset devices to break through arcade walls and deliver high-end experiences, which set themselves apart from other conventional service providers.
Location-based VR offers the dedicated space for room scale experience and upsurge array of custom designed hardware, which allow physicality to immerse. While adoption of LBE VR has increased across globe, total spending on software, hardware, content and related services are expected to show high CAGR over the forecast period. In addition, applications of LBE VR are also diversifying beyond amusement parks, cinema and theme park activities, in order to maximize the potential of this promising technology. For Latest research study : @ https://www.grandviewresearch.com/industry-analysis/location-basedentertainment-market
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