Technology has an important role to play not only in bringing FEC activities at par with tech-savvy shoppers in malls but also in ensuring that there are no glitches in operations.
Family Entertainment Centers (FECs) are being touted as the next big thing in the field of entertainment in shopping centers in India. These are usually small amusement parks or zones that typically serve local communities in big and small cities and are designed to keep the entire family engaged, generally at a significantly less per-person cost than a traditional amusement park.
According to report by Allied Market Research titled ‘Global Opportunity Analysis and Industry Forecast, 2018 – 2025’, growth in per capita disposable income, availability of diversified gaming and entertainment options, and favorable youth demographics in the Asia-Pacific region drive growth of the family/indoor entertainment centers market.
Furthermore, the continuous launch of new FECs supporting family activities, F&B integration, and participatory play, substantial growing investments by malls in the Asia-Pacific region and integration of new technologies such as virtual reality gaming, 3D technology, and others provide opportunities for the growth of the market.
Future Market Insights forecasts revenue from the Global Family/Indoor Entertainment Centres market to increase from about US$ 17 Billion in 2017 to about US$ 61 Billion by 2027 end, representing a CAGR of 13.3 percent from 2017 to 2027. This increasing revenue growth is attributed to the continuous launch of new FECs supporting the sustained growth of this market.
Technology to Enhance CX
One of the main reasons this market is consistently growing is a supportive wave of new technology, just the thing that attracts tech-savvy shoppers and the ever-connected Millennials.
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