New LBE VR Market Report to be Released Next Week at IAAPA Attractions Expo 2018
As the price of head-mounted displays (HMDs) comes down and quality improves great attention has been focused on the in-home adoption of Virtual Reality (VR) for personal use. However, by 2019 close to 15,000 Location-Based Entertainment (LBE) venues worldwide will offer VR experiences. The opportunity for curious consumers and VR aficionados to enter virtual worlds at entertainment destinations is an increasingly attractive option. A new report by Greenlight Insights released this week describes how attractive that option is, and how this nascent industry is growing.
Intended for potential investors and current operators of LBE venues, the 2018 Location-Based Virtual Reality Annual Report provides more than 130 pages of data that will help readers understand the current state of LBE VR around the world and the likely changes for the next five years. The report includes forecasts, key metrics, and analysis of the adoption and use of virtual reality at arcades, entertainment centers, malls, cinemas, theme parks, and other out-of-home venues. The analysis of activity in the Location-Based Virtual Reality market, including the penetration of different venue types, operating statistics, technology setup, and content offering, will be invaluable for evaluating investments, planning new centers and expanding existing venues.
Among the key findings in the 2018 Location-Based Virtual Reality Annual Report:
- MARKET VALUE: The global location-based virtual reality sector is expected to reach a value of $1.2 billion in 2018.
- MARKET VALUE FORECAST: The global location-based virtual reality sector is forecast to grow at a compound annual growth of 32.2% from 2019 to 2023.
- VENUE PENETRATION: The number of venues offering location-based virtual reality is expected to increase to 14,637 locations worldwide in 2019.
“Location-based entertainment is one of the fasting growing segments for VR entertainment, both domestically and internationally, although the sector comes with its own challenges, namely the distribution of unique content,” said, Alexis Macklin, Analyst at Greenlight Insights. She continued, “To gain the competitive edge, operators will need to look for content and experiences that distinguish LBE VR from the growing adoption of in-home systems.”
Macklin will be on-site during next week’s International Association of Amusement Parks and Attractions (IAAPA) Attractions Expo 2018 to client meetings and analyst briefings. Mackin and Greenlight Insights will also host a special invitation-only IAAPA Luncheon on November 15th at the Rosen Plaza Hotel featuring research highlights, panel discussion, and a special keynote presentation from Nomadic CEO Doug Griffin. The half-day program will conclude with an exclusive tour of Nomadic’s new VR entertainment center at Pointe Orlando. To participate at Greenlight Insights’ IAAPA Luncheon, contact firstname.lastname@example.org.
The 2018 Location-Based Virtual Reality Annual Report is available now from Greenlight Insights. Current Greenlight Insights customers should contact their account executive to arrange delivery of the report. Others may visit Greenlight Insights’ website at www.greenlightinsights.com, phone 415-854-3282, or email email@example.com to order the report.
About Greenlight Insights
Greenlight Insights provides proprietary and syndicated research as well as consulting services. Based in San Francisco, with offices in Boston and Denver, Greenlight Insights comprises a diverse team of highly-skilled industry professionals who offer deep expertise in xR markets. For more information, visit www.greenlightinsights.com.