According to the latest report by IMARC Group, titled “Amusement Parks Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global amusement parks market size reached US$ 51.6 Billion in 2022. Amusement parks consist of an outdoor space that hosts mechanical rides, refreshment stands, and other amenities for the recreation and engagement of visitors. The open-air entertainment zones generally feature cinematic experiences with high-definition (HD) music, light shows, and theatrical performances based on fictional characters. Contrary to transient and mobile funfairs and carnivals, amusement parks are permanent structures that operate continuously. The attractions they offer cater to a variety of ages and are generally more extensive than those in city parks and playgrounds. An amusement park is often decorated around a theme to provide its visitors with an immersive experience of a fictional world, or an entirely different approach with rides centered mostly on water. In order to generate revenue, amusement parks sell tickets for access to these products, services, and experiences.
Global Amusement Parks Market Trends:
The global market is majorly driven by considerable growth in the tourism industry. This can be attributed to the inflating disposable income levels of the consumers. In line with this, the easy availability of theme-based attractions, such as rides and official merchandise of popular fictional characters, is also acting as a significant growth-inducing factor for the market. Moreover, the growing incorporation of the Internet of Things (IoT)-enabled features to track and monitor various associated activities and manage large crowds is one of the important trends in the amusement park market. Also, the emerging trend of interactive experiences in 3D via augmented reality (AR) and virtual reality (VR) technologies is providing an impetus to the market. The rising environmental concerns among the majority of the amusement park consumer base, including the millennial and generation-Z population, resulting in the extensive adoption of clean energy resources for park operation is also fueling the market. Apart from this, the rising adoption of blockchain technology for ticketing to stop ticket duplication and minimize price gouging and fraud is further impacting the market positively. Some of the other factors contributing to the market include rapid urbanization, a considerable rise in investments by government and private companies, and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 68.8 Billion by 2028, exhibiting a CAGR of 4.8% during 2023-2028.
- Based on the rides, the market has been segmented into mechanical rides, water rides, and others.
- On the basis of the revenue source, the market has been divided into ticket, food and beverage, merchandise, hotels/resorts, and others.
- Based on the age group, the market has been categorized into up to 18 years, 19 to 35 years, 36 to 50 years, 51 to 65 years, and more than 65 years.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Ardent Leisure Group, Cedar Fair Entertainment Company, Chimelong Group Co. Ltd., Comcast Corporation, Fantawild Holdings Inc. (Shenzhen Huaqiang Holdings Ltd.), IMG Worlds of Adventure, Merlin Entertainments (The Blackstone Group), SeaWorld Parks & Entertainment Inc., Warner Media LLC, and The Walt Disney Company.
|Base Year of the Analysis
||Rides, Revenue Source, Age Group, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Ardent Leisure Group, Cedar Fair Entertainment Company, Chimelong Group Co. Ltd., Comcast Corporation, Fantawild Holdings Inc. (Shenzhen Huaqiang Holdings Ltd.), IMG Worlds of Adventure, Merlin Entertainments (The Blackstone Group), SeaWorld Parks & Entertainment Inc., Warner Media LLC and The Walt Disney Company
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