Family/Indoor Entertainment Centers Market Trend, Opportunity, and Forecast Analysis, 2024-2032

Family/Indoor Entertainment Centers Market Highlights

The global family/indoor entertainment centers market is expected to cross a market size of USD 89.3 billion by the end of 2032. The market size was valued at USD 31.6 billion in 2023 and is expected to expand at a CAGR of 11.9% between 2024-2032.

• Over the mid-term, the growing trend among youths to prioritize experiences over material possessions is the primary factor anticipated to drive the global family/indoor entertainment centers market.
• The decreasing number of shopping centers is a major factor to challenge the market growth.
• The North America family/indoor entertainment centers market is projected to dominate the global market.

Family/Indoor Entertainment Centers Market Outlook

A facility designed specially to provide a variety of recreational activities and entertainment options to individuals and families in an indoor setting is known as family/indoor entertainment center. Abbreviated as FEC or IEC, these centers are known to offer a wide range of attractions and amenities, as a result of which, people find these places to be great for family outings, and birthday parties, while companies find these places suitable for corporate events and group gatherings.

According to our experts at KD Market Insights, one of the primary factors anticipated to drive the market growth is the growing trend among youths to prioritize experiences over material possessions. The youth population around the globe is growing at a rapid pace. Currently, our researchers have estimated that there were near to 2.5 billion young people aged between 10 and 29 years worldwide. People of this generation tend to prioritize experiences over material possessions. As a result, the demand for indoor entertainment centers has grown massively amongst this population. FunZone Adventures, PlayTime Palace, and Jumpin' Jungle are some of the significant parties in the global market for family/indoor entertainment centers.

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Family/Indoor Entertainment Centers Market Drivers – Analyst’s Observation

According to the analysts at KD Market Insights, some key growth drivers for the global family/indoor entertainment centers market are:

• Growing Trend Among Shopping Centers to Include Innovative Consumer Experiences: There has been a growing trend among consumers to shift towards e-commerce and online shopping. This, as a resulted, is affecting the overall footfall in shopping centers globally. As per our team of researchers, the malls in America had almost 9% vacancy rate in the year 2022, the highest in any kind of retail property, majorly affected due to lower footfall. To come over this issue, shopping center owners worldwide are working on including innovative physical and virtual consumer experiences. Shopping center owners are rapidly dedicating spaces for FECs and IECs where families can spend time together and engage in a range of fun activities. Attractions, such as food hubs, gaming centers, and multi-dimensional entertainment centers provide immersive experiences to the consumers, and is helping in generating interests among these consumers to experience the shopping centers physically. Such a factor is therefore expected to drive the demand for family/indoor entertainment centers, and contribute to the market growth.
• Expanding Gaming Industry: The number of gamers worldwide is increasing rapidly. According to our researchers, the world recorded near to 3.2 billion gamers in 2023. Owing to this, gaming companies are increasingly working upon raising their investments to develop new games. With the increasing availability of new games worldwide, the deployment of these games in the gaming centers in family/indoor entertainment centers would also increase. This would allow the FECs to differentiate themselves from its competitors and would also allow to provide unique and memorable experiences for its visitors, which is projected to create several opportunities for market growth.

Which Probable Factors Could Hamper the Growing Family/Indoor Entertainment Centers Market Trend?

As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of family/indoor entertainment centers are:

• Declining Number of Shopping Centers: One of the major deployment areas of family/indoor entertainment centers are the shopping centers. With a decrease in the number of shopping centers globally, the demand for indoor entertainment centers would also decrease, thereby affecting the market growth.
• Increasing Trend of Mobile Gaming: The mobile gaming industry is growing rapidly, supported majorly by the increasing adoption of smartphones. Hence, the rising trend of mobile gaming is expected to hamper the market growth in the coming years.

How is the Global Family/Indoor Entertainment Centers Market Segmented?

Our experts at KD Market Insights have segmented the global family/indoor entertainment centers market research report as:

What are the Probable Factors Influencing the North America Family/Indoor Entertainment Centers Market Forecast?

The North America family/indoor entertainment centers market is majorly driven by the availability of limited outdoor spaces which is raising the need for more number of indoor entertainment centers. The region has been witnessing rapid urbanization and demographic shifts as a result of which, the number of young families and millennials, who prioritize experiences over material possessions, is increasing. Besides this, urbanization in the region has resulted in the availability of limited outdoor recreational areas across many cities in the region, thereby raising the need amongst families to opt for family entertainment centers.

As per our analysts at KD Market Insights, the following five players lead the North America family/indoor entertainment centers market growth:

• FunWorks Family Entertainment
• Adventure Avenue Indoor Park
• Jumpin' Jack's Fun Zone
• Wonderland Adventure Center
• PlayTime USA Entertainment Complex

Which Key Players Top the Global Family/Indoor Entertainment Centers Market Share?

As per our analysts at KD Market Insights, the competitive landscape of global family/indoor entertainment centers market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with family/indoor entertainment centers market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global family/indoor entertainment centers market share:

• FunZone Adventures
• PlayTime Palace
• Jumpin' Jungle
• KidzKraze Entertainment
• Adventure Alley
• Family Fun World
• WonderWorks
• Magic Planet
• FunQuest Amusement Center
• Indoor Adventure Park
• Happy House Family Entertainment
• Cosmic Quest Entertainment

What are the Recent Developments Observed in the Family/Indoor Entertainment Centers Market?

Over the years, the experts at KD Market Insights have been observing the recent developments associated with global family/indoor entertainment centers market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.

For instance, FunWorks Family Entertainment stated that it has launched a new virtual reality experience in Los Angeles.

Further, Adventure Avenue Indoor Park shared that it has plans to expand to a new location in Florida.