Virtual Reality (VR) And Augmented Reality (AR) In Amusement Parks

The global amusements market, a part of the recreation industry, grew at a compound annual growth rate (CAGR) of around 6% during the historic period. The recreation industry showed a steady growth. The growth is mainly due to increasing influx of tourists from countries such as China and India and other developing countries aided by rising disposable income and government initiatives to promote tourism in many countries.

In the forecast period, the global amusements market size is expected to be over $300 billion by 2021, growing at a CAGR of nearly 6.5%. This market is expected to register high growth and this can be attributed to technological advancements, growing popularity of fitness centers, introduction of virtual theme parks and development of a 360-degree technology to offer people a real-life experience of the virtual world are the factors that are expected to boost the market in the forecast period. Furthermore, rising population, increase in dispensable income, and increasing per capita incomes are expected to drive the global amusements market in the future.

Find TBRC’s report on the amusements market: https://www.thebusinessresearchcompany.com/report/amusements-global-market-report-2018

Amusement parks are increasingly using virtual and augmented reality technology to provide an immersive experience to customers. Virtual reality is a 3D, computer generated environment which can interact with a person, whereas augmented reality turns an environment into a digital interface by placing virtual objects in the real world. Amusement parks are implementing this technology in rides and theater-based attractions.

Major companies in the amusements market, offering AR and VR technology include The Walt Disney Company, Las Vegas Sands, Universal Studios, MGM Resorts, Merlin Entertainment Group, Seaworld Entertainment, Vail Resorts, Six Flags Entertainment Corporation, Cedar Fair Entertainment Company, Compagniedesalpes.

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Amusement parks are commercially operated enterprises involved in providing facilities for recreation, amusement and clubs, or leagues, involved in playing games for recreational purposes. These companies operate mechanical rides, water rides, games, and picnic grounds.se are equipped with recreational devices such as ferris wheels, roller coasters, carousals, swings, bumper cars, trains, monorails, sky rides and other forms of entertainment.

The amusement parks market is segmented into Theme Parks; Water Parks; Arcades And Parlors; Others.

Theme Parks comprises establishments, known as theme parks, primarily engaged in operating a variety of attractions, such as mechanical rides, water rides, games, shows, theme exhibits, refreshment stands, and picnic grounds. These establishments may lease space to others on a concession basis.

Water Parks comprises establishments, known as water parks, primarily engaged in operating a variety of attractions, such as water rides, games, shows, and refreshment stands. These establishments may lease space to others on a concession basis.

Arcades And Parlors comprises establishments primarily engaged in operating amusement (except gambling, billiard, or pool) arcades and parlors.

Others comprises establishments (except amusement parks and arcades; gambling industries; golf courses and country clubs; skiing facilities; marinas; fitness and recreational sports centers; and bowling centers) primarily engaged in providing recreational and amusement services.

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