Amusements Market – Gambling And Parks Overview And Market Players – 2022 Global Forecasts

September 07 05:40 2019
Amusements Market - Gambling And Parks Overview And Market Players - 2022 Global Forecasts

Amusements Market By Type (Gambling And Amusement Parks) Market Overview And Market Players – Global Forecast To 2022
China Sports Lottery Was The Largest Company In The Amusements Market, According To TBRC’s Report (Companies: China Sports Lottery, China Welfare Lottery, Sporties Group, Las Vegas Sands Corporation And Galaxy Entertainment Group Limited)

The global amusements market was valued nearly at $544 billion in 2018. North America is the largest market for amusements, accounting for about 33% of the global market. The USA is the largest country in terms of value in the amusements market.

The amusements market consists of sales of amusements and related goods by entities (organizations, sole traders and partnerships) that provide facilities for recreation, amusement, and gambling activities. Establishments using transportation equipment to provide recreational and entertainment services are not included in this industry.

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Amusements Market Size

The global amusements market is expected to grow to around $686 billion in 2022 at a growth rate of around 6%.Growth in the historic period resulted from the rapid urbanization and rise in disposable incomes in emerging economies, growth in the ‘experience economy’, and government initiatives to develop tourism in both developed and developing countries. Factors that negatively affected growth in the historic period were stringent regulations on amusement parks safety and high taxes on casinos and amusement parks. Going forward, growth in emerging countries’ economies and increasing use of social media will drive market growth. Factors that could hinder the growth of the amusements market in the future are demographic changes and growing popularity of home entertainment.

The amusements market is relatively fragmented with a large number of small entities with minor shares. Players in the market include China Sports Lottery, China Welfare Lottery, Sporties Group, Las Vegas Sands Corporation, and Galaxy Entertainment Group Limited.

China Sports Lottery was the largest competitor in the amusements market in 2017 with around 8% share of the market. It is government authorized entity in China. A portion of funds collected from the sales of the tickets is used for the welfare of people and in development of the sports facilities and infrastructure.

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Some of the major drivers of the market are:

Economic Growth – The market is expected to benefit from steady economic growth forecast for many developed and developing countries. The International Monetary Fund (IMF) predicts that the global real GDP growth will be around 3% over 2019 and 2020, and around 3% from 2021 to 2023.  The USA economy is expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. For instance, India’s GDP is expected to grow at around 7%, whereas China is forecast to register GDP growth of around 6% in 2019. This continued economic growth is expected to be a driver of the amusements market as greater affluence allows consumers to visit recreation centers.  

Increase In Use Of Social Media – Increasing use of social media and access to mass media are positively impacting the amusements market. Visitors like sharing their experiences, photographs and videos on social media platforms which help other people know the experiences offered by amusement parks and gambling facilities around the world. According to a study conducted by Visa, a cards and payments company, 73% of Asians check-in online while on a holiday and as many as 71% people share their experiences on social media sites after returning home . Extensive use of social media is expected to drive growth of the amusements market during the forecast period.

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