Analysts expect a compound annual growth rate of 10.16% over the next four years in the amusement and theme park industry. American continues to lead the global market and is expect to dominate the next four years as well.
The report from ReportsNReports Analysts says that even though the target market of children ages 0-14 is declining, theme parks are shifting their focus toward audiences in other age groups to generate more revenue. This includes attractions where children under the age of 14 are not allowed and other adult experiences such as roller coasters, river rapids rides, and sky coasters. The shift in the target audience is expected to support the growth of the market during the forecast period.
Among the key players in the study are Cedar Fair Entertainment, Merlin Entertainments, SeaWorld Parks & Entertainment, Universal Parks & Resorts, and Walk Disney Parks and Resorts. Other Prominent Vendors in the market are: Beto Carrero World, Chimelong Paradise, Efteling, Europa-Park, Lotte World, Ocean Park, OCT Parks, Parque Mundo Aventura, Experiencias Xcaret Parque, Samsung C&T Resort Group, Six Flags Entertainment, and Tivoli Gardens.
Globally areas of new development, like Dubai, are expected to provide a lot of growth. Six Flags Dubai and Fox World Dubai Parks are both projected to open in 2018.
Other trends include vendors who are developing 360-degree technology to offer people a real-life experience of the virtual world. Top line technology is also being used to create new theme park attractions and outdoor entertainment.