South & Central America Location-based Entertainment Market Forecast to 2028

South & Central America 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 : BMIRE00027639 | Region : LAMEA | Industry : Electronics and Semiconductor | Published Date : 19/Dec/2022

The location-based entertainment market in South & Central America is expected to grow from US$ 10.21 million in 2022 to US$ 13.62 million by 2028. It is estimated to grow at a CAGR of 4.9% from 2022 to 2028.

Advent of Next-Generation Laser Tags

Infrared-emitting light guns are used by players in the shooting game of laser tag to tag certain targets. Each player typically wears an infrared-sensitive signalling device to track hits, and the gaming venue itself occasionally incorporates this technology. Current laser tag arenas, including their walls and obstacles, are scanned, and precisely represented within the game environment using the latest laser scanning technology. The tangible objects are united with the virtual setting. Through 3D laser scanning, creative works have partnered with an expert in LiDAR laser imaging to recreate the area's aspects precisely. This allows players to interact safely with physical barriers within the game space. Users can shoot each other while running around in virtual reality thanks to businesses like Zero Latency. However, LAVR Tag is the first VR activity that doesn't call for a computer backpack. The Oculus Quest headgear is used by LAVR Tag, which enhances it with the help of Azure Spatial Anchors and other tools. As a result, users may move around freely without having to wear a backpack or manage any cords.

Market Overview

The South & Central America location -based entertainment market is segmented into Brazil, Argentina, and the Rest of South & Central America. The region has a presence of several amusement and theme parks, which is one of the reasons for the growth of the South & Central America location -based entertainment market in the region. Pixel VR Virtual Reality Arcade is an amusement park situated in Brazil. Moreover, the region has several film studios in Brazil and Argentina. In addition, AR/VR companies such as 3dar, Sense Arq, and Novaworks are contributing to the growth of the region's South & Central America location -based entertainment market. Companies operating in the South & Central America location -based entertainment market are receiving several contracts due to the increasing demand for location-based entertainment. For instance, in April 2021, Storyland Studios received a contract from Grupo Cataratas to design new location-based entertainment concepts. Grupo Cataratas is the region's largest tourism operator. Grupo Cataratas expects to increase the region's tourist attractions through location-based entertainment. Storyland will develop strategies related to themed entertainment, including concept development for tourist attractions.

South & Central America Location-based Entertainment Market Revenue and Forecast to 2028 (US$ Million)

South & Central America Location-based Entertainment Market Segmentation

The South & Central America location-based entertainment market is segmented into by 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 is 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 Brazil, Argentina, and Rest of South & Central America. Brazil segment dominated the market share in 2022. HQSoftware; IMAXCORPORATION; 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 4.9% CAGR, the South & Central America Location-based Entertainment Market is speculated to be worth US$ 13.62 million by 2028, says The Insight Partners

According to The Insight Partners’ research, the South & Central America location-based entertainment market was valued at US$ 10.21 million in 2022 and is expected to reach US$ 13.62 million by 2028, registering a CAGR of 4.9% 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 South & Central America 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 South & Central America location-based entertainment market.

On the contrary, health risks associated with extensive usage of virtual reality headset hampers South & Central America location-based entertainment market.

Based on component, the market is bifurcated into hardware and software. The hardware segment held 57.2% market share in 2022, amassing US$ 6.01 million. It is projected to garner US$ 7.79 million by 2028 to expand at 10.9% CAGR during 2022–2028.

Based on technology, the market is bifurcated into 2-dimesnional and 3-dimensional. The 3-dimensional segment held 64.1% market share in 2022, amassing US$ 6.55 million. It is projected to garner US$ 9.04 million by 2028 to expand at 5.5% 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 46.7% market share in 2022, amassing US$ 4.77 million. It is projected to garner US$ 5.93 million by 2028 to expand at 3.7% CAGR during 2022–2028.

Based on country, the South & Central America location-based entertainment market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis Brazil states that captured 81.05% market share in 2022. It was assessed at US$ 8.28 million in 2022 and is likely to hit US$ 11.26 million by 2028, exhibiting a CAGR of 5.3% during the forecast period.

Key players dominating the South & Central America location-based entertainment market are HQSoftware; IMAXCORPORATION; 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. South & Central America Location-Based Entertainment Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1 SAM

4.3 Ecosystem Analysis

4.4 Expert Opinions

5. South & Central America 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. South & Central America Location-Based Entertainment Market –Market Analysis

6.1 South & Central America Location-Based Entertainment Market Overview

6.2 South & Central America Location-Based Entertainment Market Revenue Forecast and Analysis

7. South & Central America Location-Based Entertainment Market Analysis – By Component

7.1 Overview

7.2 South & Central America Location-Based Entertainment Market, By Component(2021 and 2028)

7.3 Hardware

7.3.1 Overview

7.3.2 Hardware: South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

7.4 Software

7.4.1 Overview

7.4.2 Software: South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

8. South & Central America Location-Based Entertainment Market Analysis – By Technology

8.1 Overview

8.2 South & Central America Location-Based Entertainment Market, By Technology (2021 and 2028)

8.3 2D

8.3.1 Overview

8.3.2 2D: South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

8.4 3D

8.4.1 Overview

8.4.2 3D: South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

9. South & Central America Location-Based Entertainment Market Analysis – By End Use

9.1 Overview

9.2 South & Central America Location-Based Entertainment Market, By End Use (2021 and 2028)

9.3 Amusement Park

9.3.1 Overview

9.3.2 Amusement Park: South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

9.4 Arcade Studio

9.4.1 Overview

9.4.2 Arcade Studio: South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

9.5 Film Studio

9.5.1 Overview

9.5.2 Film Studio: South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

10. South & Central America Location-Based Entertainment Market – Country Analysis

10.1 South & Central America Location-Based Entertainment Market

10.1.1 South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

10.1.2 South & Central America Location-Based Entertainment Market- by Key Country

10.1.2.1 Brazil: South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

10.1.2.1.1 Brazil: South & Central America Location-Based Entertainment Market- By Component

10.1.2.1.2 Brazil: South & Central America Location-Based Entertainment Market- By Technology

10.1.2.1.3 Brazil: South & Central America Location-Based Entertainment Market- By End Use

10.1.2.2 Argentina: South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

10.1.2.2.1 Argentina: South & Central America Location-Based Entertainment Market- By Component

10.1.2.2.2 Argentina: South & Central America Location-Based Entertainment Market- By Technology

10.1.2.2.3 Argentina: South & Central America Location-Based Entertainment Market- By End Use

10.1.2.3 Rest of South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

10.1.2.3.1 Rest of South & Central America Location-Based Entertainment Market- By Component

10.1.2.3.2 Rest of South & Central America Location-Based Entertainment Market- By Technology

10.1.2.3.3 Rest of South & Central America 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 IMAX CORPORATION

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 Neurogaming LTD

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 SpringboardVR

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 Samsung Electronics Co., 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

12.6 Vicon Motion Systems Ltd

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Word Index

LIST OF TABLES.

Table 1. South & Central America Location-Based Entertainment Market Revenue and Forecast to 2028 (US$ Million)

Table 2. South & Central America Location-Based Entertainment Market- By Component – Revenue and Forecast to 2028 (US$ Million)

Table 3. South & Central America Location-Based Entertainment Market- By Technology – Revenue and Forecast to 2028 (US$ Million)

Table 4. South & Central America Location-Based Entertainment Market- By End Use – Revenue and Forecast to 2028 (US$ Million)

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

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

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

Table 8. Argentina: South & Central America Location-Based Entertainment Market- By Component –Revenue and Forecast to 2028 (US$ Million)

Table 9. Argentina: South & Central America Location-Based Entertainment Market- By Technology –Revenue and Forecast to 2028 (US$ Million)

Table 10. Argentina: South & Central America Location-Based Entertainment Market- By End Use –Revenue and Forecast to 2028 (US$ Million)

Table 11. Rest of South & Central America Location-Based Entertainment Market- By Component–Revenue and Forecast to 2028 (US$ Million)

Table 12. Rest of South & Central America Location-Based Entertainment Market- By Technology –Revenue and Forecast to 2028 (US$ Million)

Table 13. Rest of South & Central America Location-Based Entertainment Market- By End Use –Revenue and Forecast to 2028 (US$ Million)

Table 14. List of Abbreviation

LIST OF FIGURES.

Figure 1. South & Central America Location-Based Entertainment Market Segmentation

Figure 2. South & Central America Location-Based Entertainment Market Segmentation – By Country

Figure 3. South & Central America Location-Based Entertainment Market Overview

Figure 4. South & Central America Location-Based Entertainment Market, By Component

Figure 5. South & Central America Location-Based Entertainment Market, By Country

Figure 6. SAM – PEST Analysis

Figure 7. South & Central America Location-Based Entertainment Market- Ecosystem Analysis

Figure 8. South & Central America Location-Based Entertainment Market Impact Analysis of Drivers and Restraints

Figure 9. South & Central America Location-Based Entertainment Market Revenue Forecast and Analysis (US$ Million)

Figure 10. South & Central America Location-Based Entertainment Market Revenue Share, By Component (2021 and 2028)

Figure 11. Hardware: South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 12. Software: South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 13. South & Central America Location-Based Entertainment Market Revenue Share, By Technology (2021 and 2028)

Figure 14. 2D: South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 15. 3D: South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 16. South & Central America Location-Based Entertainment Market Revenue Share, By End Use (2021 and 2028)

Figure 17. Amusement Park: South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 18. Arcade Studio: South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 19. Film Studio: South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 20. South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 21. South & Central America Location-Based Entertainment Market Revenue Share, By Key Country (2021 and 2028)

Figure 22. Brazil: South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 23. Argentina: South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 24. Rest of South & Central America Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)

● HQSoftware

● IMAX CORPORATION

● 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 South America 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 South America 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 South America 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