Global Amusement Park Market 2018-2022| Rise in Popularity of IoT Enabled Theme Parks| Technavio
Aug. 10, 2018
LONDON--(BUSINESS WIRE)--Aug 10, 2018--The global amusement park market is expected to post a CAGR of over 8% during the period 2018-2022 according to the latest market research report by . However, the growth momentum of the market is expected to decelerate due to a decline in the year-on-year growth.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180810005088/en/
Technavio has published a new market research report on the global amusement park market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the rise in the number of baby-boomer visitors. Baby boomers are the cohorts following the silent generation and are associated with the rejection of the redefinition of the traditional values. The rise in the number of baby-boomer visitors is likely to drive the growth of the global amusement park market as amusement parks offer expensive and thrilling rides. The increase in the number of baby boomers will drive the demand for 4D rides, giant rides, and challenging roller coasters. The increase in innovations in roller coasters and other theme-park rides will attract more baby-boomer visitors. This will fuel the growth of the global amusement park market during the forecast period.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the rise in popularity of IoT-enabled theme parks as one of the key emerging trends in the global amusement park market:
Global amusement park market: rise in popularity of IoT - enabled theme parks
IoT is revolutionizing different operations in amusement parks. It helps transmit and record customers’ information easily. It provides customers with well-connected amenities and a unique experience using beacons and sensors. Certain application of IoT enabled theme parks help parents track their children’s movement with the help of sensors that are present throughout the park. The IoT wristband functions as a passport and serves as an entrance ticket for guests and facilitates credit-card transactions. IoT enabled theme parks also help identify the areas of improvement as they track and monitor all the activities and manage the crowd at the park. Thus, with various advantages associated with IoT enabled theme parks, the global market is expected to show positive results during the forecast period.
“Increase in international tourism expenditure along and investments in high-thrill roller coasters are two major factors that are driving the growth of the market. The tourism industry offers advantages such as revenue regeneration and job opportunities. The additional revenue earned from international tourism is used for infrastructure development. Therefore, the increased expenditure on international tourism will drive the growth of the global amusement park,” says a senior analyst at Technavio for research on media and entertainment services.
Global amusement park market: Segmentation analysis
This market research report segments the global amusement park market by geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 accounting for the highest market share. This can be attributed to the presence of many amusement parks in the region. The market in APAC is driven by the rise in disposable income in countries such as China and India. Moreover, APAC is expected to grow at the highest CAGR during the forecast period. However, the EMEA region is experiencing a decline in its market share due to economic uncertainty.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket sizing Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at .
View source version on businesswire.com:https://www.businesswire.com/news/home/20180810005088/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: ENTERTAINMENT TECHNOLOGY OTHER ENTERTAINMENT HARDWARE INTERNET MOBILE/WIRELESS THEME PARKS
SOURCE: Technavio Research
Copyright Business Wire 2018.
PUB: 08/10/2018 07:03 AM/DISC: 08/10/2018 07:03 AM