Edutainment Market – Snapshot
Changing industry trends and introduction of advanced technologies are playing a major role in the education field. Edutainment centers such as botanical gardens, science exhibitions, zoos, children’s museums, and aquariums offer educational aspects besides offering entertainment and amusement. The new edutainment centers incorporate entertainment and learning. The market for edutainment is forecasted to reach US$ 10,120.2 Mn by 2027.
The major factor responsible forthe growth of the edutainment market is knowledge development through the content of the games. The edutainment market has experienced considerable growth due to increasing investments by established players for edutainment centers. Further, introduction of advanced technology such as implementation of Augmented and Virtual Reality technology in the education field plays an important role in the growth of the market. Virtual Reality (VR) and Augmented Reality (AR) games are trending in the field of education. Further, some gaming manufacturers are focusing on developing technologies to improve gaming experiences at edutainment centers by integrating AR and VR technologies with 3-D projection mapping and interactive digital surfaces to generate new technologically advanced games.
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In terms of revenue source, advertising is expected to surge during the forecast period due to increasing investment on advertising and usage of advertising. Further, mall and store owners have started implementing digital strategies to improve store experience of customers. Malls and stores increase deployment of educational fun activities for all age groups.This is also anticipated to drive the edutainment market in the coming years.
With the increasing usage of social media, video streaming and mobile apps are expected to support the growth of the market during the forecast period. Further, edutainment centers are partnering with technology providers to provide advanced solution platforms. Edutainment centers are implementing advance technology such as artificial intelligence, augmented reality, mixed reality, and Internet of Things (IoT). The global spending on entertainment centers is increasing significantly every year. Increase in the global GDP is subsequently boosting the spending on entertainment and leisure activities. The family/indoor entertainment centers market is also witnessing significant growth due to an increase in the global spending on theme parks.
The edutainment market is segmented based on visitor demographics, facility size, gaming type, and revenue source. Based on visitor demographics, the market has been bifurcated into children (0-12 years), teenager (13-18 years), young adult (19-25 years), and adult (25+ years). Children (0-12 years) engage more in fun learning activities, and hence this segment is expected to support market growth during the forecast period. Based on facility size, the market has been segmented into 5,001 to 10,000 sq. ft., 10,001 to 20,000 sq. ft., 20,001 to 40,000 sq. ft. and > 40,000 sq. ft. Based on gaming type, the market is segmented into interactive, non-interactive, explorative, and hybrid combination games. Explorative games are expected to display comparatively fast growth during the forecast period. On the basis of revenue source, the market has been divided into entry fees & tickets, food & beverages, merchandising, advertising, and others.
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In terms of region, North America is expected to hold a major share in the edutainment market. Growth is attributed to strong adoption and penetration of edutainment. Asia Pacific region is expected to witness lucrative growth in the market due to rising adoption of the edutainment concept in India and Japan. Furthermore, the markets in Middle East & Africa (MEA) and South America are also expected to grow significantly during the forecast period.
Attracted by fast technological advancements and rising spending on edutainment centers and digital education activity, many players are driven to develop edutainment centers, video games, and streaming videos (cartoons, animated movies, etc). Some of the key players profiled in the edutainment market report include Kidzania, Legoland Discovery Center, Kindercity, Plabo, Pororo Parks, CurioCity, Totter’s Otterville, Mattel Play! Town, Little Explorers, and Kidz Holding S.A.L.