North America And Asia Pacific Are Growing Neck-To-Neck In The Amusement Parks And Arcades Market

North America and Asia Pacific are the two largest regions of the global amusement parks and arcades market, and are both forecast to grow at the highest annual growth rates to 2022. North America was the largest region in the amusement parks and arcades market in 2018, accounting for $24.9 billion or 40.1% of the market. The largest market size can be attributed to the presence of major theme-based parks in the region along with the high disposable incomes of American and Canadian citizens. The high number of domestic and international tourists also contributed to the market size. The largest player in the amusement parks and arcades market in 2018, The Walt Disney Company, is also based in North America, headquartered in Burbank, California. Walt Disney Parks And Resorts held 22.91% share of the market. It is a wholly owned subsidiary of The Walt Disney Company. The Walt Disney Company is a diversified international family entertainment and media enterprise.

Asia Pacific was the second largest region accounting for $21.1 billion or 34% of the amusement parks and arcades market. It was mainly supported by the large middle-class population in the region, whose lifestyles changed with a focus on leisure and recreational activities due to the rise in disposable incomes, and increased number of tourists visiting countries in the region. The presence of international players in the region offering recreation services at lower rates than in home countries also supported the market size.

Asia Pacific also had the highest compound annual growth rate of 9.5% during 2014-2018; this region is expected to grow at a growth rate of 9.3% during 2018-2022, the fastest among all other regions. The fastest growth of the amusement parks and arcades market in Asia Pacific can be attributed to the increase in the construction numbers of amusement parks catering to the increasing demand from the population, and increased number of domestic and international tourists.

North America had the second highest annual growth rate of 9.33% during 2014-2018; this region is expected to grow at a growth rate of 9.29% during 2018-2022.

Split by country, the USA’s amusement parks and arcades market was the largest in 2018, accounting for $23.5 billion or 37.9% of the market. The largest market size of the amusement parks and arcades market in the country can be attributed to the high disposable income of American consumers, and changing lifestyles with a focus on leisure and recreational activities. The market size can also be attributed to new innovative rides, lodging facilities, and merchandise gaining popularity among visitors of all age groups, which caused the rise in the number of adults and children visiting amusement parks. Japan was the second largest country accounting for $10.5 billion or 17% of the market.

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