The Amusement and Theme Park Market in US is being driven by Rising investments in high-thrill roller coasters
The Amusement and Theme Park Market in US is expected to grow at a CAGR of 3.88% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 4020.45 million. The amusement and theme park industry in the US has experienced significant advancements due to extensive research and development activities. Innovations such as pneumatic tower rides, interactive dark and 4D rides, hydraulic launch coasters, and giant rides have been introduced to attract customers with modern amenities. One notable innovation is the implementation of specialized personal assistant devices, which streamline the customer experience by minimizing queuing, ordering food, online ticketing, and locker booking, all supported by fingerprint recognition technology. Pioneers like Walt Disney continue to drive innovation in the sector, with initiatives such as Disney Innovation Day, inviting startups to present their product lines, and advanced entertainment offerings like augmented reality video games, robotic pixel displays, and 3D representation of shows such as Mickey's PhilharMagic and Shrek 4-D.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
139 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.88% |
Market growth 2024-2028 |
USD 4020.45 million |
Market structure |
fragmentation |
YoY growth 2023-2024(%) |
3.26 |
Key countries |
US and North America |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Amusement and Theme Park industry in the US is embracing advanced technologies to enhance visitor experience and optimize operations. Integration of technology includes data analytics, predictive modeling, simulation software, ride simulators, and AI for crowd control and park operations. Facilities also utilize visitor tracking systems, facial recognition, biometric technology, automated queuing, digital signage, interactive kiosks, mobile ticketing, cashless payment systems, and virtual queuing. Online booking, guest surveys, and feedback management are essential for improving guest satisfaction. Employee scheduling, inventory management, supply chain optimization, risk management, safety audits, accessibility compliance, sustainability reporting, and performance metrics are crucial for efficient park management. Additionally, focus on sustainability with reporting of carbon footprint, energy consumption, water usage, and waste generation. Employee retention is fostered through training programs and performance metrics.
The Amusement and Theme Park market in the US is a significant segment of the global Leisure Facilities Market, which encompasses companies operating in various sectors such as sports and fitness centers, stadiums, golf courses, and amusement parks. According to Technavio, the global Leisure Facilities Market, which also includes revenue from casinos and gaming, hotels, resorts, and cruise lines, restaurants, and amusement parks, is projected to grow due to increasing disposable income leading to higher discretionary spending on offerings like roller coasters, water rides, dark rides, interactive rides, character meet-and-greets, merchandise sales, ticket sales, season passes, group bookings, and special events.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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