South & Central America Location-based Entertainment Market

The location-based entertainment market in South & Central America is expected to grow from US$ 10.21 million in 2022 to US$ 13.62 million by 2028. It is estimated to grow at a CAGR of 4.9% from 2022 to 2028.

 

Advent of Next-Generation Laser Tags

Infrared-emitting light guns are used by players in the shooting game of laser tag to tag certain targets. Each player typically wears an infrared-sensitive signalling device to track hits, and the gaming venue itself occasionally incorporates this technology. Current laser tag arenas, including their walls and obstacles, are scanned, and precisely represented within the game environment using the latest laser scanning technology. The tangible objects are united with the virtual setting. Through 3D laser scanning, creative works have partnered with an expert in LiDAR laser imaging to recreate the area's aspects precisely. This allows players to interact safely with physical barriers within the game space.  Users can shoot each other while running around in virtual reality thanks to businesses like Zero Latency. However, LAVR Tag is the first VR activity that doesn't call for a computer backpack. The Oculus Quest headgear is used by LAVR Tag, which enhances it with the help of Azure Spatial Anchors and other tools. As a result, users may move around freely without having to wear a backpack or manage any cords.

Market Overview

The South & Central America location -based entertainment market is segmented into Brazil, Argentina, and the Rest of South & Central America. The region has a presence of several amusement and theme parks, which is one of the reasons for the growth of the South & Central America location -based entertainment market in the region. Pixel VR Virtual Reality Arcade is an amusement park situated in Brazil. Moreover, the region has several film studios in Brazil and Argentina. In addition, AR/VR companies such as 3dar, Sense Arq, and Novaworks are contributing to the growth of the region's South & Central America location -based entertainment market. Companies operating in the South & Central America location -based entertainment market are receiving several contracts due to the increasing demand for location-based entertainment. For instance, in April 2021, Storyland Studios received a contract from Grupo Cataratas to design new location-based entertainment concepts. Grupo Cataratas is the region's largest tourism operator. Grupo Cataratas expects to increase the region's tourist attractions through location-based entertainment. Storyland will develop strategies related to themed entertainment, including concept development for tourist attractions.

South & Central America Location-based Entertainment Market Revenue and Forecast to 2028 (US$ Million)

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South & Central America Location-based Entertainment Strategic Insights

Strategic insights for the South & Central America Location-based Entertainment provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South & Central America Location-based Entertainment Report Scope

South & Central America Location-based Entertainment Regional Insights

The geographic scope of the South & Central America Location-based Entertainment refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

South & Central America Location-based Entertainment Market Segmentation 

The South & Central America location-based entertainment market is segmented into by component, technology, end-use, and country.

• Based on component, the market is bifurcated into hardware and software. The hardware segment held a larger market share in 2022.
• Based on technology, the market is bifurcated into 2-dimesnional and 3-dimensional. The 3-dimensional segment held a larger market share in 2022. 
• Based on end-use, the market is segmented into amusement parks, arcade studios, and film studios. The amusement parks segment dominated the market share in 2022.
• Based on country, the market is segmented into Brazil, Argentina, and Rest of South & Central America. Brazil segment dominated the market share in 2022.

HQSoftware; IMAXCORPORATION; Neurogaming Ltd; SpringboardVR; Samsung Electronics Co., Ltd.; and Vicon Motion Systems Ltd are the leading companies operating in the location-based entertainment market in the region.