Asia-Pacific Immersive Entertainment Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 28.71 Billion |
| Market Size (2029) | USD 87.23 Billion |
| CAGR (2024 - 2029) | 24.89 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Immersive Entertainment Market Analysis
The Asia-Pacific Immersive Entertainment Market size is estimated at USD 28.71 billion in 2024, and is expected to reach USD 87.23 billion by 2029, growing at a CAGR of 24.89% during the forecast period (2024-2029).
- The Asia-Pacific immersive entertainment market is poised for substantial growth in the coming years. This market fosters dynamic storytelling, empowering creators to weave experiences that harmoniously merge the virtual and physical realms. This entertainment medium heralds a transformative chapter in storytelling. Creators delve into interactive narratives, granting users a pivotal role in determining the story's direction. Such a trend redefines conventional entertainment, presenting audiences with tailored and engaging experiences.
- Creative success in the region's entertainment industry is emerging as a key driver for the growth of the market. The entertainment industry continues transforming entertainment, providing audiences greater access to innovative and creative content produced globally. Further, theme parks, haunted attractions, and escape rooms are demonstrating growth due to their established business models in the region, fueling market growth.
- The growth of the market is expected to be driven by several key trends. These include the rapid adoption of immersive technologies across various sectors, increasing consumer demand for virtual and augmented reality entertainment experiences, and the rise of location-based entertainment venues offering immersive attractions. These factors are anticipated to contribute significantly to market expansion over the forecast period.
- Sustainability and growth expansion in the immersive entertainment market remain challenging for the region. While immersive technologies hold significant potential, several obstacles need to be addressed for widespread adoption. However, as technology advances, prices gradually decrease, creating opportunities for broader consumer adoption.
- In the coming years, technological advancements in virtual reality (VR) and augmented reality (AR) are expected to enhance immersive experiences and drive growth in the market. As VR and AR become more accessible, these technologies are set to transform the gaming, film, and live events industries, driving the growth of the overall market.
Asia-Pacific Immersive Entertainment Market Trends
The Themed Entertainment Segment is Expected to Hold a Significant Market Share
- The themed entertainment segment is expected to hold the largest market share over the forecast period. Themed entertainment, particularly theme parks, is a significant market growth driver.
- The rising expansion of theme parks in Asia-Pacific, coupled with the growing attendance in these places, is creating substantial growth opportunities for immersive experiences across the region. Japan boasts numerous theme and amusement parks, with several, such as Tokyo Disneyland, Tokyo DisneySea, and Universal Studios in Osaka, achieving global fame. Notably, Tokyo Disneyland and DisneySea are major tourist attractions, consistently attracting vast crowds annually.
- Such developments are expected to influence the growth of the market positively by creating opportunities for market vendors to deliver and produce immersive entertainment experiences for attendees in theme parks. For instance, according to METI (Japan), in 2023, amusement parks and theme parks in Japan attracted approximately 72.38 million visitors. The country is home to several nationally and internationally recognized theme parks.
- In the coming years, the expansion of theme parks, coupled with technological advancements by major market vendors, will positively support the growth of the themed entertainment segment. Several trends are expected to drive growth in the segment in the coming years. These include the adoption of digital innovations to create immersive and convenient guest experiences, as well as the use of data analytics to offer personalized and unique visitor experiences.
South Korea is Expected to Witness Significant Growth
- South Korea is poised to spearhead the growth of the Asia-Pacific immersive entertainment market during the forecast period. The country's robust entertainment industry, coupled with the rising demand for immersive and personalized experiences and the significant presence of key market players, is propelling market growth.
- Over recent years, the South Korean government's substantial investments in the AR/VR domain have bolstered this market's expansion. Additionally, the surging AR/VR gaming scene is driving the uptake of VR headsets, further fueling market growth. For instance, a 2023 survey by the Korea Creative Content Agency revealed that approximately 7.7% of female respondents and 7.1% of male respondents in South Korea had engaged in virtual reality (VR) games over the past year.
- The rise of technological innovation in location-based entertainment is driving market expansion. This technology creates exclusive experiences in real-world venues like theme parks and entertainment centers. By offering consumers unique and interactive experiences that go beyond traditional home entertainment, these innovations are fueling market growth in the country.
- In May 2024, South Korea's largest immersive media art exhibition hall opened at the Mohegan Inspire Entertainment Resort in Incheon. The venue, Le Space, was constructed within the Inspire Mall by Hyundai FutureNet. It features 18 display halls covering an area of 6,142 square meters. Le Space's inaugural show, "Beyond the Cosmos," employs interactive technologies such as motion recognition, touch, and sound detection to provide visitors with an immersive space exploration experience.
Asia-Pacific Immersive Entertainment Industry Overview
The Asia-Pacific immersive entertainment market is fragmented. Players are adopting strategies such as partnerships, innovations, mergers, and acquisitions to enhance their product offerings and gain sustainable competitive advantages. Further, the launch of immersive theaters and immersive entertainment sectors is emerging as a key market strategy.
- March 2024: iQIYI, a leading online entertainment service in China, unveiled a virtual reality (VR) immersive theater in Xi'an in the Shaanxi province. Leveraging its hit original IP, "Strange Tales of Tang Dynasty 2: To the West," the VR immersive theater was a major attraction in the city during the Chinese New Year holiday. This success underscored iQIYI's expertise in turning popular IPs into tangible, offline experiences.
- March 2024: Immersive Fort Tokyo, a new theme park centered on immersive experiences, opened to the public in Tokyo’s Odaiba area. Drawing inspiration from immersive theatre, this one-of-a-kind destination boasts 12 attractions alongside six shops and dining establishments. Setting a global precedent, Immersive Fort Tokyo allows guests to engage and participate as players. Notable attractions include a grand, immersive theatre spectacle, a horror experience, and an unexpected show that makes its entrance in a restaurant.
Asia-Pacific Immersive Entertainment Market Leaders
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iQIYI
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teamlab
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CultureSpaces
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Vividthree Productions Pte Ltd
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Grande Experiences
*Disclaimer: Major Players sorted in no particular order
Asia-Pacific Immersive Entertainment Market News
- August 2024: The newly inaugurated “Love Between Fairy and Devil” VR Immersive Experience Center opened in Galaxy Macau. This innovative center drew inspiration from the hit IP “Love Between Fairy and Devil,” crafted by iQIYI. The project was a collaborative effort between iQIYI’s Dream Verse Studio and Galaxy Entertainment Group (GEG). As Macau's largest immersive experience center, its launch underscored the city's ambition to be a key player in the evolving landscape of cultural tourism.
- May 2024: VUZ, an innovative immersive video platform, forged a strategic alliance with Hungama, Asia's premier digital entertainment firm. This partnership is set to reshape the landscape of digital entertainment and social engagement, targeting a joint audience exceeding 200 million users. With this collaboration, VUZ is committed to delivering a steady flow of exclusive immersive content, promising to enthrall and entertain viewers innovatively.
Asia-Pacific Immersive Entertainment Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definitions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Ecosystem Analysis
4.3 Use Case of Enabling Technologies
4.3.1 Flat User Interfaces for 2D Experience
4.3.2 Extended Reality (3D)
4.3.3 Natural and spatial interfaces
4.4 Key Case Studies of Entertainment leveraging Immersive Experiences
4.4.1 Art Museum (teamLab of Japan)
4.4.2 Shopping Experience (Immersive Bazaar)
4.4.3 Immersive Theatre Experience (Immersive Gatsby)
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Creative Success in the Entertainment Industry is driving the Market Growth
5.2 Market Challenges
5.2.1 Sustainablility and growth expansion in the immersive entertainment sector remain challenging
6. MARKET SEGMENTATION
6.1 Application
6.1.1 Themed Entertainment
6.1.2 Haunted Attractions and Escape Rooms
6.1.3 Immersive Theaters
6.1.4 Experiential Art Museums
6.1.5 Other (includes Exhibitions, etc.)
6.2 Country
6.2.1 China
6.2.2 Japan
6.2.3 South Korea
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 iQIYI
7.1.2 teamLab
7.1.3 CultureSpaces
7.1.4 Vividthree Productions Pte Ltd
7.1.5 Grande Experiences
7.1.6 Museum of Ice Cream
7.1.7 The Walt Disney Company
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Asia-Pacific Immersive Entertainment Industry Segmentation
The immersive entertainment market is enhancing a significant shift in how people interact with digital content. Dominated by technologies like virtual reality (VR), augmented reality (AR), and mixed reality (MR), this market is witnessing growth owing to technological innovations and an increasing appetite for engaging, interactive experiences.
The Asia-Pacific immersive entertainment market is segmented by application (themed entertainment, haunted attractions and escape rooms, immersive theatre, experiential art museums, and others) and country (China, Japan, South Korea, and Rest of Asia-Pacific). The report offers the market sizes and forecasts in value (USD) for all the above segments.
| Application | |
| Themed Entertainment | |
| Haunted Attractions and Escape Rooms | |
| Immersive Theaters | |
| Experiential Art Museums | |
| Other (includes Exhibitions, etc.) |
| Country | |
| China | |
| Japan | |
| South Korea |
Asia-Pacific Immersive Entertainment Market Research FAQs
How big is the Asia-Pacific Immersive Entertainment Market?
The Asia-Pacific Immersive Entertainment Market size is expected to reach USD 28.71 billion in 2024 and grow at a CAGR of 24.89% to reach USD 87.23 billion by 2029.
What is the current Asia-Pacific Immersive Entertainment Market size?
In 2024, the Asia-Pacific Immersive Entertainment Market size is expected to reach USD 28.71 billion.
Who are the key players in Asia-Pacific Immersive Entertainment Market?
iQIYI, teamlab, CultureSpaces, Vividthree Productions Pte Ltd and Grande Experiences are the major companies operating in the Asia-Pacific Immersive Entertainment Market.
What years does this Asia-Pacific Immersive Entertainment Market cover, and what was the market size in 2023?
In 2023, the Asia-Pacific Immersive Entertainment Market size was estimated at USD 21.56 billion. The report covers the Asia-Pacific Immersive Entertainment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Immersive Entertainment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Immersive Entertainment Industry Report
Statistics for the 2024 Asia-Pacific Immersive Entertainment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Immersive Entertainment analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Asia-Pacific Immersive Entertainment Market Report Snapshots
