Market Trends of Asia-Pacific Immersive Entertainment Industry
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.
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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.
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