Edutainment Market expected to reach ~US$ 8.1 Bn by 2032 - Comprehensive Research Report by FMI

·8 min read

Edutainment Market - Analysis, Outlook, Growth, Trends, Forecasts

DUBAI, United Arab Emirates, Jan. 19, 2022 (GLOBE NEWSWIRE) -- The edutainment market revenue totaled ~US$ 1.6 Bn in 2021. The edutainment market is expected to reach ~US$ 8.1 Bn by 2032, growing at a CAGR of 16.1% for 2022 – 2032. According to the edutainment industry analysis by Future Market Insights (FMI), the demand registered in the Edutainment Market will increase at a healthy CAGR of 16.1% from 2022-2032.

Base year (2021) Market Value

US$ 1,626.7 Mn

Projected year (2032) Value

US$ 8,145.9 Mn

CAGR% (2022-2032)

16.1%

Top 5 Vendor Market Share

Around 30%

The report states that the market is expected to reach the valuation of ~US$ 1.8 Bn by the end of 2022. As per FMI, rapid technological advancements and introduction of learning through entertainment have created prospects for edutainment.

Edutainment is helping to improve children's social skills by using children’s literature, practicing social overtures, and strengthening social & emotional education. It also enhances social-emotional well-being in youngsters by improving teachers’ social-emotional curriculum design and competence.

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The edutainment centers usually appeal to the 8 to 14 age group and their parents. This indicates penetration of deep youth population under the age of 14 in the Asia-Pacific and with rising incomes and expectations, parents are spending more on their children, which is expected to drive the edutainment market growth.

Indoor parks are both within greater reach and more profitable to most developers and operators as compared to outdoor theme parks due to which number of operators are launching new edutainment centers to attract the customers.

Furthermore, in 20th century children used to be much more physically active as compared to the present as they did not have access to video games, handheld gaming devices, computers or the Internet. But especially in recent years, the world is much more socially interactive and sophisticated, however, physical activity is an important habit for a healthy lifestyle. Thus, children and young adults are the most attractive demographics segment in the overall edutainment market.

Key Takeaways: Edutainment Market

  • By gaming type, the explorative segment is anticipated to account for the leading share in the global demand for edutainment during the forecast period. However, the hybrid combination segment is estimated to grow at a robust CAGR of 19.0% through 2032.

  • By revenue source, the entry fees & tickets segment is anticipated to increase at a CAGR of 18.2% between 2022 & 2032.

  • Based on visitor demographics, children (0-12) segment is estimated to witness high growth during the forecast period as most pre-school and kindergarten providers have realized that open-ended play in the right environment helps children develop and learn emotionally, cognitively, socially, and physically.

  • North America is expected to lead the market followed by Europe in 2022. South Asia & Pacific is anticipated to emerge as the fastest growing region between 2022 & 2032.

  • The market in China is expected to progress at a CAGR of around 18.4% through 2032.

  • In India, sales are expected to increase at a CAGR of close 23.6% over the next ten years.

“The key players of edutainment parks are focusing on investing on adding new features and new rides in the edutainment parks for boosting its capacity to serve customers and for enhancing the customer base,” says FMI analyst.

Inclination towards New Kinds of Edutainment to Propel the Sales

Soft modular play centers, operated on a pay-for-play basis, were the first incarnation of edutainment centers. They were based upon the mistaken idea that indoor, safe, physical play met the play needs of young children. Later centers were bigger and included rides, games, and passive entertainment including animatronics, which was basically more of the same. Some center operators looked to the early childhood education and children's museum industries.

Nowadays, new edutainment centers recognizes that all children are not alike, that kids come in different ages and levels of development, and represent distinct genders and cultures and experiences. This generation is based wholly on "actual" reality and high touch. It offers children a place with the tools they need to create their own magical worlds, where their imaginations rule and they can develop their minds, souls and bodies. As a result, the edutainment market is projected to register a noteworthy growth during the forecast period.

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Footfall in Edutainment Centers is increasing with Changing Lifestyles

Entertainment choice of consumer are mostly focused on building a personal narrative and memorable experiences. New business models arise as entrepreneurs ride key trends within the market which is creating a dynamic environment for investment, and businesses that strike a chord among consumers and reach a level of scale can expect strong support. In developing markets, growth rates are estimated to be high as incomes of consumers is rising and available free time is increasing. Theme parks/ edutainment parks are also benefiting from rising incomes and the pivot to experience.

Rapid industrialization, increased disposable income and busy working schedules have significantly hampered the lifestyles of customers globally in the past few years. These changes in lifestyles have boosted the preference for spending quality time along with education, entertainment, food & beverages and other fun activities. This is among factors that are encouraging customers to visit edutainment centers for spending their leisure time, as well as for celebrations, adventure experiences, education etc. With these changing lifestyles, edutainment centers are offering more and more modern education and entertainment options for kids under one roof. This is among the key factors responsible for driving the edutainment market across the globe.

Scope of Report

Attribute

Details

Market value in 2022

US$ 1,827 Mn

Market CAGR 2022 to 2032

16.1%

Share of top 5 players

Around 30%

Forecast Period

2022-2032

Historical Data Available for

2017-2021

Market Analysis

USD Million for Value

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa

Key Countries Covered

US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Malaysia, Indonesia, Singapore, Australia & New Zealand, GCC Countries, Turkey, North Africa and South Africa

Key Segments Covered

Product, Commercial Application and Region

Key Companies Profiled

  • Kidzania

  • Legoland Discovery Center

  • Kindercity

  • Plabo

  • Pororo Park

  • Curiocity

  • Totter’s Otterville

  • Mattel Play Town

  • Little Explorers

  • Kidz Holding S.A.L

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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