Global $31 Billion Escape Room Market Opportunity Analysis and Industry Forecasts, 2022-2023 & 2032
Escape Room Market
Dublin, Oct. 13, 2023 (GLOBE NEWSWIRE) — The “Escape Room Market By Type, By End User: Global Opportunity Analysis and Industry Forecast, 2023-2032” report has been added to ResearchAndMarkets.com’s offering.
The escape room market was valued at $7.9 billion in 2022, and is estimated to reach $31 billion by 2032, growing at a CAGR of 14.8% from 2023 to 2032.
An escape room, additionally referred to as an escape game, puzzle room, exit game, or riddle room, is a game in which a group of players must find clues, solve riddles, and complete tasks in one or more rooms to achieve a certain objective in a set period of time. The aim is frequently to get away from the game’s location.
The growth of the escape room market can be attributed to its captivating concept and the availability of a wide variety of themed activities in various cities. Strategic marketing efforts by industry players and government initiatives to promote adventure tourism are also contributing factors to the growth of the escape room industry.
The increasing presence of social media networks and the popularity of travel blogging and vlogging on platforms like Instagram and Twitter are expected to generate interest in escape rooms worldwide. This heightened exposure is anticipated to boost the popularity of escape rooms, driving further growth in the industry.
Expanding escape room facilities into new markets and regions presents significant commercial potential. As the demand for escape rooms grows, businesses are exploring opportunities beyond their initial locations, whether in neighboring cities, countries, or through online platforms. This expansion allows companies to tap into new markets and customer bases, reducing their reliance on a single market.
Furthermore, diversifying revenue sources and collaborating with other industries, such as hotels and tourist sites, to offer bundled entertainment packages has proven successful for many escape room companies. By entering new markets and regions, these companies can differentiate themselves from competitors by offering unique and innovative experiences.
However, the growth of e-sports has gained immense popularity among young audiences globally. Factors such as the increased availability of digital devices, widespread internet access, and the use of social media have contributed to the rise of e-sports. The COVID-19 pandemic further accelerated interest in e-sports, leading many millennials to pursue it as a career or leisure activity.
The growing popularity of e-sports poses a potential threat to traditional outdoor recreational and entertainment facilities like escape rooms. It has led to reduced engagement in adventure and leisure activities among young people, impacting the revenue growth of the escape room business.
In response to these challenges, players in the global escape room market have implemented various strategies to expand their market share, increase profitability, and remain competitive in the industry.
Key findings of the study
- On the basis of type, small theme room (2 to 4 people) segment dominated the escape room industry in 2022 and is expected to retain its dominance throughout the forecast period.
- On the basis of end user, the corporate groups segment dominated the global market in 2022 and is expected to retain its dominance throughout the forecast period.
- Region wise, Asia-Pacific region accounted for the highest escape room market share in 2022 and is expected to grow at a CAGR of 14.3% from 2023 to 2032.
|No. of Pages||250|
|Forecast Period||2022 – 2032|
|Estimated Market Value (USD) in 2022||$7.93 Billion|
|Forecasted Market Value (USD) by 2032||$30.96 Billion|
|Compound Annual Growth Rate||14.6%|
- Growth in popularity of escape rooms as a form of entertainment and social activity
- Increase in usage of escape room by corporate group
- Development of new and innovative escape room themes
- Limited capacity and scalability for escape room businesses
- Increase in popularity of e-sports among youth
- Expansion of escape room facilities into new markets and locations
COVID-19 Impact Analysis on the market
Market Share Analysis
Key Market Players
- 60 Out Escape Rooms
- All In Adventures, LLC
- Amazing Escape Room, LLC
- Breakout Operations, LLC
- Epic Escape Game
- Escape The Room
- Escapology LLC
- Great Room Escape
- Maze Rooms Corp.
- Paniq Entertainment LLC
- Puzzle Effect
- Texas Panic Room
- The Escape Game, LLC
- The Great Escape Room
- XP Factory Plc
Key Market Segments
- Small Theme Room (2 to 4 person)
- Medium Theme Room (5 to 8 person)
- Big Theme Room (9 to 12 person)
By End User
- Corporate groups
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
For more information about this report visit https://www.researchandmarkets.com/r/46jijl
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- Escape Room Market
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