Global Amusement Park Market 2018-2022 | Rise in Popularity of IoT-Enabled Theme Parks to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 11, 2019--
The global amusement park market is expected to post a decelerating CAGR of over 8% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global amusement park market 2018-2022. (Graphic: Business Wire)
The increase in international tourism expenditure is one of the major factors driving the growth of the global amusement park market. Amusement parks offer expensive and thrilling rides that capture the attention of different demographics. For instance, there is a high demand for 4D rides, giant rides, and challenging roller coasters among baby boomers. Moreover, the growing innovations in theme-park rides are likely to increase the visitors to amusement parks, which will drive market growth during the forecast period.
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As per Technavio, the rise in popularity of IoT-enabled theme parks, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Amusement Park Market: Rise in Popularity of IoT-Enabled Theme Parks
The rise in popularity of IoT-enabled theme parks will be one of the critical trends in the global amusement parks market. The operational process of amusement parks is being revolutionized by IoT. This technology helps in tracking and monitoring all the activities and manage the crowd at the park. Further, the IoT wristband functions as a passport and an entrance ticket for guests and facilitates credit-card transactions. Certain applications of IoT-enabled theme parks also help parents track their children’s movement with the help of sensors that are present throughout the park. Such advantages associated with IoT-enabled theme parks will stimulate the growth of the amusement park market during the forecast period.
“Other factors such as the increase in international tourism expenditure and the investments in high-thrill roller coasters will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Amusement Park Market: Segmentation Analysis
This market research report segments the global amusement park market by sources of revenue (tickets, hospitality, merchandising, and others) and geographical regions (APAC, Americas, and EMEA).
The Americas region led the market share in 2017, followed by EMEA and APAC respectively. During the forecast period, the Americas region is expected to maintain its dominance over the global market. This is due to the presence of several amusement parks such as Cedar Fair Entertainment Company, SeaWorld Parks & Entertainment, Comcast, The Walt Disney Company, and Six Flags Entertainment Corporation in the region.
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Some of the key topics covered in the report include:
Five Forces Analysis
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INDUSTRY KEYWORD: THEME PARKS ENTERTAINMENT
SOURCE: Technavio Research
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PUB: 11/11/2019 06:00 PM/DISC: 11/11/2019 06:01 PM