Global Amusement Park Market 2017-2021
Overview of the global amusement park market
Technavio’s market research analyst predicts the global amusement park market to grow at a CAGR of more than 8% during the forecast period. The demand for amusement parks has increased significantly over the recent years because of the unique experience they offer. The growing interest of individuals in adventurous activities is one of the major factors driving growth in the amusement park market. Technological advancements and the growing innovation and creativity among vendors are important factors that have led to the emergence of amusement parks. They have a wide range of dangerous yet thrilling rides that give individuals a remarkable experience. Also, operators in the market are coming up with more exciting concepts, themes, and rides to augment the interest of customers.
The introduction of virtual theme parks is one of the latest trends gaining momentum in the market. Vendors are developing a 360-degree technology to offer people a real-life experience of the virtual world. They are using professional-grade cameras to create such theme parks for outdoor entertainment. For instance, Disney World has come up with the Star Wars-themed park and has also released a 360-degree picture of the themed land. The park gives fans an opportunity to experience the simulated world in 360 degrees.
Competitive landscape and key vendors
The global amusement park market is highly competitive owing to the presence of numerous vendors, who compete based on the types of activities, service portfolio, pricing, government licensing, and safety measures. Cedar Fair Entertainment, Merlin Entertainments, SeaWorld Parks & Entertainment, Universal Parks & Resorts, and Walt Disney Parks and Resorts are some of the major vendors operating in the market. These market players are making investments in designing, developing, planning, branding, and expanding the existing products and services in the market. The competition is expected to become more intense in the market during the forecast period with the increase in product extensions.
Leading vendors in the market are -
- Cedar Fair Entertainment
- Merlin Entertainments
- SeaWorld Parks & Entertainment
- Universal Parks & Resorts
- Walk Disney Parks and Resorts
Other prominent vendors in the amusement park market include Beto Carrero World, Chimelong Paradise, Efteling, Europa-Park, Lotte World, Ocean Park, OCT Parks, Parque Mundo Aventura, Experiencias Xcaret Parque, Samsung C&T Resort Group, Six Flags Entertainment, and Tivoli Gardens.
Segmentation by revenue source and analysis of the amusement park market
In 2016, the tickets segment dominated the global amusement park market and was the major revenue contributor to the market. The segment is the primary source of revenue for amusement park providers. Few vendors charge customers only an entry fee, while others charge based on the activity chosen. With the increased innovation and creativity and the addition of rides and themes, the number of tourists is likely to increase, which will further contribute to the growth of this segment in the coming years.
Geographical segmentation and analysis of the amusement park market
The Americas led the global market in 2016 and will continue its dominance over the next four years. Much of the region’s high growth can be attributed to the presence of a large number of amusement park providers such as Cedar Fair Entertainment, SeaWorld Parks & Entertainment, Universal Parks & Resorts, and Walt Disney Parks and Resorts. With North America being the major hub for amusement and theme parks in the region, the overall market will witness significant growth in the coming years.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global amusement park market?
- What are the key market trends impacting the growth of the global amusement park market?
- What are the challenges to market growth?
- Who are the key vendors in the global amusement park market?
- What are the market opportunities and threats faced by the vendors in the global amusement park market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global amusement park market?
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