Middle East & Africa Location-based Entertainment Market Forecast to 2028

Middle East & Africa Location-based Entertainment Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component (Hardware and Software), Technology (2-Dimesnional and 3-Dimensional), and End-use (Amusement Parks, Arcade Studios, and Film Studios)

Report Code : BMIRE00027636 | Region : LAMEA | Industry : Electronics and Semiconductor | Published Date : 16/Dec/2022

The location-based entertainment market in Middle East & Africa is expected to grow from US$ 44.40 million in 2022 to US$ 68.95 million by 2028. It is estimated to grow at a CAGR of 7.6% from 2022 to 2028.

Use of VR Headsets for Indoor Games

Currently, sporting events are embracing immersive experiences and entering the game industry. Large sporting organizations and events have already begun to invest in virtual and augmented reality to improve sports and events. For instance, during the COVID-19 lockdowns, many people and businesses were using virtual and augmented reality to organize virtual yet immersive meetings and activities beyond the typical video meetings. The major technology firms are already striving to create headgear that do not require cords and allow for HD visual viewing. Manufactures like Sony, Samsung Electronics Co., Ltd. and many more are creating 8k and significantly more powerful processors for virtual reality headsets. With an unmatched, potent engagement platform that connects players in-home, VR gameplay with their social, competitive, and premium experiences at out-of-home entertainment venues like family entertainment centres, in order to accommodate the new standard in location-based entertainment, VRStudies Sports redraws the lines dividing virtual reality games.

Market Overview

The Middle East & Africa is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of the Middle East & Africa. Dubai is one of the prominent cities in the region to which the tourists are primarily attracted. Due to this, the country is focused on building more tourism infrastructures. The country has the world's largest indoor virtual reality (VR) park, which is a major tourist attraction. Further, prominent Middle East & Africa location-based entertainment market players such as Zero Latency are present in major countries of the region, such as Saudi Arabia and the UAE. Any strategic development implemented by such companies contributes to the region's Middle East & Africa location-based entertainment market. In February 2020, Saudi Entertainment Ventures (SEVEN) decided to contribute to Saudi Vision 2030. This Public Investment Fund (PIF)-established company is set to invest in developing several entertainment destinations in Riyadh, Saudi Arabia.

Further, the companies operating in the Middle East & Africa location-based entertainment market continuously focus on growth strategies. Due to this, the companies achieve several awards and recognitions. For instance, in June 2022, SPREE Interactive was awarded the "Best in Location-Based" for its AR and VR at Augmented World Expo 2022.

Moreover, several associations related to location-based entertainment are present in the region. For instance, the Virtual Reality South Africa Association (VRSA) is a South African association established to promote augmented reality and virtual reality companies in the region. Such associations are expected to increase the development of location-based entertainment in the region.

Middle East & Africa Location-based Entertainment Market Revenue and Forecast to 2028 (US$ Million)

Middle East & Africa Location-based Entertainment Market Segmentation

The Middle East & Africa location-based entertainment market is segmented into component, technology, end-use, and country.

Based on component, the market is bifurcated into hardware and software. The hardware segment held a larger market share in 2022. Based on technology, the market bifurcated into 2-dimesnional and 3-dimensional. The 3-dimensional segment held a larger market share in 2022. Based on end-use, the market is segmented into amusement parks, arcade studios, and film studios. The amusement parks segment dominated the market share in 2022. Based on country, the market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Saudi Arabia dominated the market share in 2022. HQSoftware; Neurogaming Ltd; SpringboardVR; Samsung Electronics Co., Ltd.; and Vicon Motion Systems Ltd are the leading companies operating in the location-based entertainment market in the region.

At 7.6% CAGR, the Middle East & Africa Location-based Entertainment Market is speculated to be worth US$ 68.95 million by 2028, says The Insight Partners

According to The Insight Partners’ research, the Middle East & Africa location-based entertainment market was valued at US$ 44.40 million in 2022 and is expected to reach US$ 68.95 million by 2028, registering a CAGR of 7.6% from 2022 to 2028. The rising popularity of VR-based games with 360-degree content, mixing of AR and VR technology with 3-D projection mapping for energy saving and conservation drives the market growth are the critical factors attributed to the market expansion.

The development of 360-degree virtual reality (VR) technology is anticipated to significantly contribute to the expansion of the Middle East & Africa location-based entertainment market. The viewers can get a 360-degree view of the projected content. The introduction of VR-based games with 360-degree content can provide people with thrilling and immersive experiences, which is helping boost the industry's growth. These developments are prompting the major market players to work with technology providers and advance LBE technology. In September 2019, TacHammer; StrikerVR, Inc.; and Nanoport Technology Inc. collaborated on the Linear Magnetic Ram (LMR) haptic technology. As part of the partnership, Sticker VR launched Arena Infinity LITE VR peripheral, designed to deliver realistic tactile experiences for LBE and VR. The hardware sector had the most significant growth in the VR gaming market. Hardware categories include VR gaming headsets and other products tailored to the gaming industry. The dynamics of the gaming market are anticipated to shift due to the presence of smaller start-ups and major hardware manufacturers such as Oculus VR, Sony, Samsung, and Google. Players will engage in fierce competition based on the style and cost of VR gadgets. The rising popularity of 360-degree content, high adoption of this technology, and increasing implementation and acceptance of the technology are projected to decrease the prices of VR hardware components such as joysticks and VR headsets. Being one of the most sought-after major gaming platforms, location-based VR technology is predicted to increase the appeal of 360-degree video. In the years to come, it is predicted that these elements would encourage the growth of the Middle East & Africa location-based entertainment market.

On the contrary, health risks associated with extensive usage of virtual reality headset hampers market Middle East & Africa location-based entertainment market.

Based on component, the market is bifurcated into hardware and software. The hardware segment held 60.1% market share in 2022, amassing US$ 26.69 million. It is projected to garner US$ 39.89 million by 2028 to expand at 6.9% CAGR during 2022–2028. Based on technology, the market is bifurcated into 2-dimesnional and 3-dimensional. The 3-dimensional segment held 66.4% market share in 2022, amassing US$29.48 million. It is projected to garner US$ 47.39 million by 2028 to expand at 8.2% CAGR during 2022–2028. Based on end-use, the market is segmented into amusement parks, arcade studios, and film studios. The amusement parks segment held 50.2% market share in 2022, amassing US$22.28 million. It is projected to garner US$ 33.22million by 2028 to expand at 6.9% CAGR during 2022–2028. Based on country, the Middle East & Africa location-based entertainment market has been categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 34.0% market share in 2022. It was assessed at US$ 15.08 million in 2022 and is likely to hit US$ 22.68 million by 2028, exhibiting a CAGR of 7.0% during the forecast period. Key players dominating the Middle East & Africa location-based entertainment market are HQSoftware; Neurogaming Ltd; SpringboardVR; Samsung Electronics Co., Ltd.; and Vicon Motion Systems Ltd.

In May 2021; Linksys and Fortinet Announced Strategic Alliance to Deliver Enterprise-Grade Performance and Security for Work from Home Networks. In May 2022; Sony Interactive Entertainment LLC announced that it has entered into an agreement to acquire Haven Entertainment Studios Inc. (“Haven Studios”), a Montreal-based development studio formed by acclaimed developer Jade Raymond, founder of Ubisoft Toronto and Motive Studios and one of the creative forces behind the blockbuster Assassin’s Creed franchise.

TABLE OF CONTENTS

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Middle East & Africa Location-Based Entertainment Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1 MEA

4.3 Ecosystem Analysis

4.4 Expert Opinions

5. Middle East & Africa Location-Based Entertainment Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Rising Popularity of 360-Degree VR-Based Games

5.1.2 Mix of AR and VR Technology with 3-D Projection Mapping

5.2 Market Restraints

5.2.1 Health Risks Associated with Extensive Usage of Virtual Reality Headsets

5.3 Market Opportunities

5.3.1 Development and Integration of Advanced Technologies and Tools

5.3.2 Use of VR Headsets for Indoor Games

5.4 Future Trends

5.4.1 Advent of Next-Generation Laser Tags

5.5 Impact Analysis of Drivers and Restraints

6. Middle East & Africa Location-Based Entertainment Market –Market Analysis

6.1 Middle East & Africa Location-Based Entertainment Market Overview

6.2 Middle East & Africa Location-Based Entertainment Market Revenue Forecast and Analysis

7. Middle East & Africa Location-Based Entertainment Market Analysis – By Component

7.1 Overview

7.2 Middle East & Africa Location-Based Entertainment Market, By Component (2021 and 2028)

7.3 Hardware

7.3.1 Overview

7.3.2 Hardware: Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

7.4 Software

7.4.1 Overview

7.4.2 Software: Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

8. Middle East & Africa Location-Based Entertainment Market Analysis – By Technology

8.1 Overview

8.2 Middle East & Africa Location-Based Entertainment Market, By Technology (2021 and 2028)

8.3 2D

8.3.1 Overview

8.3.2 2D: Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

8.4 3D

8.4.1 Overview

8.4.2 3D: Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

9. Middle East & Africa Location-Based Entertainment Market Analysis – By End Use

9.1 Overview

9.2 Middle East & Africa Location-Based Entertainment Market, By End Use (2021 and 2028)

9.3 Amusement Park

9.3.1 Overview

9.3.2 Amusement Park: Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

9.4 Arcade Studio

9.4.1 Overview

9.4.2 Arcade Studio: Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

9.5 Film Studio

9.5.1 Overview

9.5.2 Film Studio: Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

10. Middle East & Africa Location-Based Entertainment Market – Country Analysis

10.1 Middle East & Africa Location-Based Entertainment Market

10.1.1 Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

10.1.3 Middle East & Africa Location-Based Entertainment Market- by Key Country

10.1.3.1 South Africa: Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

10.1.3.1.1 South Africa: Middle East & Africa Location-Based Entertainment Market- By Component

10.1.3.1.2 South Africa: Middle East & Africa Location-Based Entertainment Market- By Technology

10.1.3.1.3 South Africa: Middle East & Africa Location-Based Entertainment Market- By End Use

10.1.3.2 Saudi Arabia: Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

10.1.3.2.1 Saudi Arabia: Middle East & Africa Location-Based Entertainment Market- By Component

10.1.3.2.2 Saudi Arabia: Middle East & Africa Location-Based Entertainment Market- By Technology

10.1.3.2.3 Saudi Arabia: Middle East & Africa Location-Based Entertainment Market- By End Use

10.1.3.3 UAE: Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

10.1.3.3.1 UAE: Middle East & Africa Location-Based Entertainment Market- By Component

10.1.3.3.2 UAE: Middle East & Africa Location-Based Entertainment Market- By Technology

10.1.3.3.3 UAE: Middle East & Africa Location-Based Entertainment Market- By End Use

10.1.3.4 Rest of Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

10.1.3.4.1 Rest of Middle East & Africa Location-Based Entertainment Market- By Component

10.1.3.4.2 Rest of Middle East & Africa Location-Based Entertainment Market- By Technology

10.1.3.4.3 Rest of Middle East & Africa Location-Based Entertainment Market- By End Use

11. Industry Landscape

11.1 Overview

11.2 Business Planning and Strategy

11.3 Merger and Acquisition

11.4 Expansion & Collaboration

11.5 Product News

12. Company Profiles

12.1 HQSoftware

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 Neurogaming LTD

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 SpringboardVR

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 Samsung Electronics Co., Ltd.

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 Vicon Motion Systems Ltd

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Word Index

LIST OF TABLES.

Table 1. Middle East & Africa Location-Based Entertainment Market Revenue and Forecast to 2028 (US$ Million)

Table 2. Middle East & Africa Location-Based Entertainment Market- By Component– Revenue and Forecast to 2028 (US$ Million)

Table 3. Middle East & Africa Location-Based Entertainment Market- By Technology – Revenue and Forecast to 2028 (US$ Million)

Table 4. Middle East & Africa Location-Based Entertainment Market- By End Use – Revenue and Forecast to 2028 (US$ Million)

Table 5. South Africa: Middle East & Africa Location-Based Entertainment Market- By Component –Revenue and Forecast to 2028 (US$ Million)

Table 6. South Africa: Middle East & Africa Location-Based Entertainment Market- By Technology –Revenue and Forecast to 2028 (US$ Million)

Table 7. South Africa: Middle East & Africa Location-Based Entertainment Market- By End Use –Revenue and Forecast to 2028 (US$ Million)

Table 8. Saudi Arabia: Middle East & Africa Location-Based Entertainment Market- By Component –Revenue and Forecast to 2028 (US$ Million)

Table 9. Saudi Arabia: Middle East & Africa Location-Based Entertainment Market- By Technology –Revenue and Forecast to 2028 (US$ Million)

Table 10. Saudi Arabia: Middle East & Africa Location-Based Entertainment Market- By End Use –Revenue and Forecast to 2028 (US$ Million)

Table 11. UAE: Middle East & Africa Location-Based Entertainment Market- By Component –Revenue and Forecast to 2028 (US$ Million)

Table 12. UAE: Middle East & Africa Location-Based Entertainment Market- By Technology –Revenue and Forecast to 2028 (US$ Million)

Table 13. UAE: Middle East & Africa Location-Based Entertainment Market- By End Use –Revenue and Forecast to 2028 (US$ Million)

Table 14. Rest of Middle East & Africa Location-Based Entertainment Market- By Component –Revenue and Forecast to 2028 (US$ Million)

Table 15. Rest of Middle East & Africa Location-Based Entertainment Market- By Technology –Revenue and Forecast to 2028 (US$ Million)

Table 16. Rest of Middle East & Africa Location-Based Entertainment Market- By End Use –Revenue and Forecast to 2028 (US$ Million)

Table 17. List of Abbreviation

LIST OF FIGURES.

Figure 1. Middle East & Africa Location-Based Entertainment Market Segmentation

Figure 2. Middle East & Africa Location-Based Entertainment Market Segmentation – By Country

Figure 3. Middle East & Africa Location-Based Entertainment Market Overview

Figure 4. Middle East & Africa Location-Based Entertainment Market, By Component

Figure 5. Middle East & Africa Location-Based Entertainment Market, By Country

Figure 6. MEA – PEST Analysis

Figure 7. Middle East & Africa Location-Based Entertainment Market- Ecosystem Analysis

Figure 8. Middle East & Africa Location-Based Entertainment Market Impact Analysis of Drivers and Restraints

Figure 9. Middle East & Africa Location-Based Entertainment Market Revenue Forecast and Analysis (US$ Million)

Figure 10. Middle East & Africa Location-Based Entertainment Market Revenue Share, By Component (2021 and 2028)

Figure 11. Hardware: Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 12. Software: Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 13. Middle East & Africa Location-Based Entertainment Market Revenue Share, By Technology (2021 and 2028)

Figure 14. 2D: Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 15. 3D: Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 16. Middle East & Africa Location-Based Entertainment Market Revenue Share, By End Use (2021 and 2028)

Figure 17. Amusement Park: Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 18. Arcade Studio: Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 19. Film Studio: Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 20. Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 21. Middle East & Africa Location-Based Entertainment Market Revenue Share, By Key Country (2021 and 2028)

Figure 22. South Africa: Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 23. Saudi Arabia: Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 24. UAE: Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 25. Rest of Middle East & Africa Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

● HQSoftware

● Neurogaming LTD

● SpringboardVR

● Samsung Electronics Co., Ltd.

● Vicon Motion Systems Ltd

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Middle East & Africa location-based entertainment market.

● Highlights key business priorities in order to assist companies to realign their business strategies.

● The key findings and recommendations highlight crucial progressive industry trends in Middle East & Africa location-based entertainment market, thereby allowing players across the value chain to develop effective long-term strategies.

● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

● Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the market, as well as those hindering it.

● Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

TOP