The location-based entertainment market in Asia Pacific is expected to grow from US$ 347.49 million in 2022 to US$ 748.59 million by 2028. It is estimated to grow at a CAGR of 13.6% from 2022 to 2028.
Development and Integration of Advanced Technologies and Tools
Numerous businesses spend a lot of money building new sites where customers can fully experience virtual reality. There are currently many possibilities to integrate immersive technology in LBE VR. Two-bit Circus raised millions of dollars to open what they call a "mini amusement park" with virtual reality. In location-based entertainment, technologies like object recognition can identify the form and shape of different objects and their position in space. Object recognition can help one overlay digital information and provide additional textual and visual information that can be easily built into AR/VR applications. ARKit helps various theme parks and amusement parks provide AR experiences with extraordinary 3D graphics. The most remarkable feature of ARKit is that one can incorporate real-world objects into AR experiences, resulting in fabulous immersive experiences.
Motion sensing is essential in portable designs built around augmented reality (AR) and virtual reality (VR) applications. While motion sensors are bridging the real and virtual worlds, a more specialized device, the inertial measurement unit (IMU), is ideally suited to serve the developing location-based entertainment with the help of AR and VR. Using virtual reality headsets on their own or as part of a ride or simulator has become the most recent trend for operators. With the help of virtual reality, it is relatively easy for an amusement park to create a 3D computer-generated environment that can suit a theme, style, story, or even season that is relevant to the location. Unlike traditional rides, it can be changed relatively easily as consumer tastes change or different brand alliances are formed. The expectation of end-users to experience virtual environment in various applications, regardless of any location or time, is increasing as a result of recent breakthroughs in location-based entertainment technology.
Market Overview
The Asia Pacific location-based entertainment market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The countries in Asia Pacific are known for adopting technological advancements in the early phase. Due to this, the region is home to many companies that are providers of location-based entertainment, such as Panasonic Connect, SKonec Entertainment, and Sony Interactive Entertainment LLC.
In December 2019, a South Korean location-based entertainment company, SKonec Entertainment, expanded its presence by opening a VR Square in Los Angeles. Moreover, in January 2021, Enlight Media, a Chinese film and TV studio, started building a movie-inspired adventure park in China. Legacy Entertainment will design the park's core component “Enlight Epicenter”. For location-based entertainment, Enlight requires about US$ 2.5 billion investment. Similarly, in November 2019, Shinsegae, a South Korea-based retail giant, announced that the company is building a US$ 3.8 billion worth of theme park in South Korea. The construction was aimed to be started in 2021 and set for an initial opening in 2026 and a full opening by 2031.Moreover, in March 2022, Sony Interactive Entertainment LLC acquired Haven Entertainment Studios Inc. It is a Montreal-based development studio. Such development strategies by the companies are propelling the Asia Pacific location-based entertainment market growth in the region.
Asia Pacific Location-based Entertainment Market Revenue and Forecast to 2028 (US$ Million)
Asia Pacific Location-based Entertainment Market Segmentation
The Asia Pacific location-based entertainment market is segmented into by component, technology, end-use, and country.
Based on component, the market is segmented into hardware and software. The hardware segment held the larger market share in 2022. Based on technology, the market is segmented into 2-dimesnional and 3-dimensional. The 3-dimensional segment held the 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 Australia, China, India, Japan, South Korea, and Rest of Asia Pacific. China 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.
● HQSoftware
● IMAX CORPORATION
● Neurogaming Ltd
● SpringboardVR
● Samsung Electronics Co., Ltd.
● Vicon Motion Systems Ltd
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. Asia Pacific Location-Based Entertainment Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 APAC
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Asia Pacific 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. Asia Pacific Location-Based Entertainment Market –Market Analysis
6.1 Asia Pacific Location-Based Entertainment Market Overview
6.2 Asia Pacific Location-Based Entertainment Market Revenue Forecast and Analysis
7. Asia Pacific Location-Based Entertainment Market Analysis – By Component
7.1 Overview
7.2 Asia Pacific Location-Based Entertainment Market, By Hardware (2021 and 2028)
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware: Asia Pacific Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Software
7.4.1 Overview
7.4.2 Software: Asia Pacific Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)
8. Asia Pacific Location-Based Entertainment Market Analysis – By Technology
8.1 Overview
8.2 Asia Pacific Location-Based Entertainment Market, By Technology (2021 and 2028)
8.3 2D
8.3.1 Overview
8.3.2 Asia Pacific 2D: Asia Pacific Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)
8.4 3D
8.4.1 Overview
8.4.2 Asia Pacific 3D: Asia Pacific Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)
9. Asia Pacific Location-Based Entertainment Market Analysis – By End Use
9.1 Overview
9.2 Asia Pacific Location-Based Entertainment Market, By End Use (2021 and 2028)
9.3 Amusement Park
9.3.1 Overview
9.3.2 Amusement Park: Asia Pacific Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Arcade Studio
9.4.1 Overview
9.4.2 Arcade Studio: Asia Pacific Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Film Studio
9.5.1 Overview
9.5.2 Film Studio: Asia Pacific Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)
10. Asia Pacific Location-Based Entertainment Market – Country Analysis
10.1 Asia Pacific Location-Based Entertainment Market
10.1.1 Asia Pacific Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2 Asia Pacific Location-Based Entertainment Market- by Key Country
10.1.2.1 Australia: Asia Pacific Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2.1.1 Australia: Asia Pacific Location-Based Entertainment Market- by Component
10.1.2.1.2 Australia: Asia Pacific Location-Based Entertainment Market- By Technology
10.1.2.1.3 Australia: Asia Pacific Location-Based Entertainment Market- By End Use
10.1.2.2 China: Asia Pacific Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2.2.1 China: Asia Pacific Location-Based Entertainment Market- by Component
10.1.2.2.2 China: Asia Pacific Location-Based Entertainment Market- By Technology
10.1.2.2.3 China: Asia Pacific Location-Based Entertainment Market- By End Use
10.1.2.3 India: Asia Pacific Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2.3.1 India: Asia Pacific Location-Based Entertainment Market- by Component
10.1.2.3.2 India: Asia Pacific Location-Based Entertainment Market- By Technology
10.1.2.3.3 India: Asia Pacific Location-Based Entertainment Market- By End Use
10.1.2.4 Japan: Asia Pacific Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2.4.1 Japan: Asia Pacific Location-Based Entertainment Market- by Component
10.1.2.4.2 Japan: Asia Pacific Location-Based Entertainment Market- By Technology
10.1.2.4.3 Japan: Asia Pacific Location-Based Entertainment Market- By End Use
10.1.2.5 South Korea: Asia Pacific Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2.5.1 South Korea: Asia Pacific Location-Based Entertainment Market- by Component
10.1.2.5.2 South Korea: Asia Pacific Location-Based Entertainment Market- By Technology
10.1.2.5.3 South Korea: Asia Pacific Location-Based Entertainment Market- By End Use
10.1.2.6 Rest of Asia Pacific Location-Based Entertainment Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2.6.1 Rest of Asia Pacific Location-Based Entertainment Market- by Component
10.1.2.6.2 Rest of Asia Pacific Location-Based Entertainment Market- By Technology
10.1.2.6.3 Rest of Asia Pacific 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. Asia Pacific Location-Based Entertainment Market Revenue and Forecast to 2028 (US$ Million)
Table 2. Asia Pacific Location-Based Entertainment Market- by Hardware – Revenue and Forecast to 2028 (US$ Million)
Table 3. Asia Pacific Location-Based Entertainment Market- By Technology – Revenue and Forecast to 2028 (US$ Million)
Table 4. Asia Pacific Location-Based Entertainment Market- By End Use – Revenue and Forecast to 2028 (US$ Million)
Table 5. Australia: Asia Pacific Location-Based Entertainment Market- by Component –Revenue and Forecast to 2028 (US$ Million)
Table 6. Australia: Asia Pacific Location-Based Entertainment Market- By Technology –Revenue and Forecast to 2028 (US$ Million)
Table 7. Australia: Asia Pacific Location-Based Entertainment Market- By End Use –Revenue and Forecast to 2028 (US$ Million)
Table 8. China: Asia Pacific Location-Based Entertainment Market- by Component –Revenue and Forecast to 2028 (US$ Million)
Table 9. China: Asia Pacific Location-Based Entertainment Market- By Technology –Revenue and Forecast to 2028 (US$ Million)
Table 10. China: Asia Pacific Location-Based Entertainment Market- By End Use –Revenue and Forecast to 2028 (US$ Million)
Table 11. India: Asia Pacific Location-Based Entertainment Market- by Component –Revenue and Forecast to 2028 (US$ Million)
Table 12. India: Asia Pacific Location-Based Entertainment Market- By Technology –Revenue and Forecast to 2028 (US$ Million)
Table 13. India: Asia Pacific Location-Based Entertainment Market- By End Use –Revenue and Forecast to 2028 (US$ Million)
Table 14. Japan: Asia Pacific Location-Based Entertainment Market- by Component –Revenue and Forecast to 2028 (US$ Million)
Table 15. Japan: Asia Pacific Location-Based Entertainment Market- By Technology –Revenue and Forecast to 2028 (US$ Million)
Table 16. Japan: Asia Pacific Location-Based Entertainment Market- By End Use –Revenue and Forecast to 2028 (US$ Million)
Table 17. South Korea: Asia Pacific Location-Based Entertainment Market- by Component –Revenue and Forecast to 2028 (US$ Million)
Table 18. South Korea: Asia Pacific Location-Based Entertainment Market- By Technology –Revenue and Forecast to 2028 (US$ Million)
Table 19. South Korea: Asia Pacific Location-Based Entertainment Market- By End Use –Revenue and Forecast to 2028 (US$ Million)
Table 20. Rest of Asia Pacific Location-Based Entertainment Market- by Component –Revenue and Forecast to 2028 (US$ Million)
Table 21. Rest of Asia Pacific Location-Based Entertainment Market- By Technology –Revenue and Forecast to 2028 (US$ Million)
Table 22. Rest of Asia Pacific Location-Based Entertainment Market- By End Use –Revenue and Forecast to 2028 (US$ Million)
Table 23. List of Abbreviation
