North America accounted for about 57.9% theme park vacation market share in 2018, and is expected to grow at a CAGR of 4.6%
According to a new report published by Allied Market Research, titled, “Theme Park Vacation Market by Type, Age Group, Traveler Type, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026,” the global theme park vacation market size was valued at $47.2 billion in 2018, and is projected to reach $74.7 billion by 2026, registering a CAGR of 6.0% from 2019 to 2026. Theme park is as an outdoor attraction, which combines rides, shows, and other relevant activities. Theme parks emphasizes on one central theme around which landscape, shows, architecture, food services, costumed personnel, rides, and retailing are orchestrated.
Major shift of consumers toward experiencing thrill, entertainment, and happiness is a key factor that drives the growth of the global theme park vacation market. As a result spending on experiences such as theme park vacation have seen a significant increment in the last few years.
The Study Will Help the Readers-
1. Acknowledge the complete market dynamics.
2. Inspect the competitive scenario along with the future market landscape with the help of different strictures such as Porter’s five forces and parent/peer market.
3. Understand the impact of government regulations during the Covid-19 pandemic and evaluate the market throughout the global health crisis.
4. Consider the portfolios of the major market players operational in the market coupled with the comprehensive study of the products and services they offer.
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The key players operating in the global theme park vacation industry are :-
Walt Disney Attraction
Merlin Entertainment Group
Universal Parks and Resorts
Oct Parks China
Six Flags Inc.
Cedar Fair Entertainment Company
Seaworld Parks & Entertainment
Stakeholders are the theme park as destination for tourist, enabling longer stays. Furthermore, theme parks not only involve themed carnival rides and roller coasters but also include high-tech virtual environments and simulators that are exciting and new making them a unique destination for holidays. Moreover, stakeholders in the theme park are focusing on providing knowledge with fun and entertainment, which bolsters the growth of the global theme park vacation market. However, increase in incidents of accidents in theme parks owing to improper operation of rides, passenger misuse or failure to follow instructions, mechanical failure of rides or inherent nature of rides negatively impacts the growth of the global theme park vacation market.
Furthermore, increase in footfall of all age groups in theme parks, including baby boomers, generation X, millennials, and generation Z is expected to fuel the market growth. Generation Z are consumers who regularly visit theme park for enjoyment and refreshment with their friends and families, as they are more interested in outdoor entertainment. In addition, this generation explore new places and seek for innovative rides, thereby augmenting the theme park vacation market growth.
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1. The report crafted by AMR on the Theme Park Vacation Market doles out a wide-ranging study of global market share, key determinants of the growth, country-level stance, segmental assessment, market prospects, and the major trends.
2. Porter’s five forces model, on the other hand, cites the efficacy of buyers & sellers, which is important to help the market players implement fruitful stratagems. Furthermore, the research study includes,
– Threat of new competitors
– Threat of new stand-ins
– Bargaining clout of suppliers as well as consumers
– Rivalry among key players
3. An explicit analysis of the driving and restraining factors of the Theme Park Vacation Market is also provided in the report.
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Key Findings Of Theme Park Vacation Market:
Based on type, the adventure park segment dominates the global theme park vacation market in 2018, and is expected to retain its dominance throughout the theme park vacation market forecast period.
Depending on age group, spending by millennials segment accounted for highest share in the theme park vacation market analysis in 2018, and is projected to grow at a CAGR of 6.3% from 2019 to 2026.
By traveler type, the group segment was the major shareholder in 2018, and is projected to register a CAGR of 6.2% from 2019 to 2026.
Region wise, North America accounted for about 57.9% theme park vacation market share in 2018, and is expected to grow at a CAGR of 4.6%.
Table Of Content :-
CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.2. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Market evolution/industry roadmap
3.4. Market dynamics
126.96.36.199. Consumer shifting experience from product to experience
188.8.131.52. Innovation and Redesign
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