What are the Growth Dynamics of Edutainment Market?
One of the main goals of the edutainment industry is to pique the interest and attention of teenagers and small children by including them in computer games. The outbreak of the COVID-19 pandemic, combined with rising digitization, has encouraged educational institutions to employ e-learning systems to provide online instruction to students at home. Furthermore, the usage of vivid and colorful animations has aided in the simplification of complicated topics for students while also increasing their learning experience. In the education arena, new technology launches are crucial, as is utilizing the edutainment business. All of the aforementioned factors are expected to broaden the reach of the edutainment business in the future years. Furthermore, the expanding improvisation and digitization seen in art schools and classrooms, as well as the well-developed infrastructure of entertainment centers, can help the edutainment business grow.
What is the Market Size of Edutainment Market in term of value?
Global Edutainment Market is projected to increase at a significant CAGR of 15.9% in the coming years. In 2021, the global edutainment market was valued at USD 1492.5 Million and is projected to reach at value of USD 3617.5 million by 2028. The demand for edutainment is projected to increase substantially in the coming years and is presumed to generate revenue opportunity for the key industry players that worth USD 2125 million during the forecast period between 2022 and 2028.
What are the growth opportunities for Edutainment Market?
The number of edutainment facilities is increasing at a moderate rate in response to the world's rapidly growing population. These are mostly found in tier I and tier II cities in both developed and developing countries. In terms of entertainment alternatives, the rural population continues to be underserved. This demonstrates that there is a sizable population that is underserved in terms of education and leisure. Because of the buying power of the Visitor Demographicss in these areas, edutainment centers are commonly found in tier I cities in nations like India. When compared to tier II and tier III cities, the capacity for amusement spending is higher. Untapped markets from tier II and tier III cities are projected to be served in the next years if entertainment choices are made available for these cities at reduced pricing. Moreover, several game companies are working to improve gaming experiences at edutainment centers by developing new technology. The online gaming edutainment sector is being driven by this. By merging AR/VR technology with 3D projection mapping and interactive digital surfaces, they want to build new technologically advanced games. In a 3D environment, a better user experience increases engagement and streamlines learning methods. The market is also being bolstered by a recent growth in the manufacture of VR controllers, headsets, and other gaming equipment.
Interesting Facts about Edutainment Industry
The key drivers of the Edutainment market are the prospective benefits of the industry, such as growth in socialization skills, leadership skills, and team building. The talents differ depending on the user's age, such as a child's memory power, computational capacity, simulation fluency, and significant others, which are found in youngsters under the age of ten.
The edutainment industry's overall expansion is predicted to be hampered by a lack of essential investment and an inability to implement modern learning methods. Although educational institutions are cooperating with prominent brands and market participants for financial support, students must bear the majority of the costs of enrolling in edutainment platforms, which is projected to limit the Edutainment market's growth.
In terms of volume and value, the Asia Pacific region dominated the worldwide edutainment market in 2021, and this dominance is expected to continue during the forecast period.
As edutainment centers offer play activities through interactive classroom sessions, the children segment is expected to be the fastest expanding. These play activities can assist younger children in learning crucial skills such as counting and telling stories. The demand for edutainment centers has increased as a result of these advantages.
Who are the Top 10 players/companies in edutainment market in term of value and volume?
The key players in the global edutainment market in terms of value and volume include Kidzania, Kindercity, Plabo, Pororo Park, Legoland Discovery Center, Totter’s Otterville, Curiocity, Mattel Play Town, Little Explorers, and Kidz Holding S.A.L. To achieve a competitive market share in the worldwide edutainment market, these main players are focusing on new product development as well as technological innovation. Furthermore, some regional and country-level firms are making significant investments to diversify their product portfolios and increase sales. For instance, in June 2021, at Great Mall in Milpitas, the Legoland Discovery Center erected a 31,000-square-foot indoor playground. Additionally, Kidzania Kuwait partnered with Microsoft Kuwait in October 2019 to inspire children to achieve more by improving their technology abilities. The goal of the partnership was to equip children with digital and soft skills that would prepare them for future employment.
Who are the Top 10 Countries in the Edutainment Market?
In the global edutainment market, the major countries are China, India, the U.S., Canada, the U.K., Germany, France, Russia, Belgium, Netherlands, and Spain. Southeast Asia, which is part of Asia Pacific, is expected to develop faster in the global edutainment market than the other important geographical regions. This region has the highest number of smart device users and a big pre-audit population, both of which are key market drivers. Furthermore, the market's growth is aided by the presence of numerous edutainment companies and fierce competition in the education sector. China is regarded as a key manufacturing base for online edutainment gear, resulting in an increase in the use of online gaming technology throughout the region.
Which is the Key Revenue Source in the Edutainment Market?
The entry fee and ticket segment is forecast to expand at a CAGR of 18.2%, maintaining its dominance in edutainment center sales income. Due to rising income among families, which has led to increased expenditure on entertainment and education, edutainment centers produce the most money from entry fees and tickets. Families with children and young members are increasingly investing in edutainment activities like simulation games. People are flocking to edutainment centers as their children's interest in these Gaming Types of games grows, and edutainment centers are making the most money from entry fees and tickets.
What are the Major Driving Factors for Edutainment Market?
The key drivers of the Edutainment market are the prospective benefits of the industry, such as growth in socialization skills, leadership skills, and team building. The talents differ depending on the user's age, such as a child's memory power, computational capacity, simulation fluency, and significant others, which are found in youngsters under the age of ten. Because of these potential benefits, educational institutions are increasingly integrating with edutainment suppliers. The market's overall growth is being aided by the increasing advancement in virtual reality gaming. The enhanced user experience in the 3D environment boosts the child's engagement and makes learning processes easier. In recent years, the increased manufacture of VR headsets, controllers, and other gaming devices has had an impact on market growth.
What are the Major Restraints for Edutainment Market?
The edutainment industry's overall expansion is predicted to be hampered by a lack of essential investment and an inability to implement modern learning methods. Although educational institutions are cooperating with prominent brands and market participants for financial support, students must bear the majority of the costs of enrolling in edutainment platforms, which is projected to limit the Edutainment market's growth. Projectors, interactive whiteboards, printers, PCs, laptops, cellphones, and other computing gear are required for the correct configuration of the Edutainment platform, which comes at a higher cost to educational institutions, especially in developing countries. Such issues are regarded as the market's primary limitations.
Which Region Dominated the World Edutainment Market?
The Asia Pacific edutainment market is likely to provide attractive prospects for active vendors. As more individuals frequent these centres with their families, the number of edutainment centres in Southeast Asia is increasing. Customers can spend valuable time with their family and friends while playing games and learning new things thanks to the presence of edutainment facilities. In Japan, an increase in robotics Facility Sizes in the edutainment sector is offering value-grab opportunities for market players. Many technical areas, such as mathematics and physics, design and innovation, electronics, computer science and programming, and psychology, are combined in robotics. As a result, established firms in Asia Pacific are heavily investing in the edutainment industry in order to reap economic gains. For instance, between 2022 and 2028, India's sales income is expected to grow at an astounding 23.6 percent compound annual growth rate (CAGR). In India, new gaming technology and approaches are fast transforming edutainment. The Indian educational system is more monotonous and emphasises intensive learning. So, in recent years, edutainment has established itself in the mainstream education market and is garnering millennial approval. In India, edutainment is assisting institutions in improving the quality of education and enticing pupils.
However, North America is projected to witness substantial growth in the forecast period. Through 2028, edutainment demand in the United States is estimated to account for almost 78.7% of the North American market. Because a large number of families visit these facilities each year, the US government is boosting its funding in edutainment centers. Key edutainment center businesses in the United States are forming strategic alliances with other companies in order to expand their Visitor Demographics base and presence. The leading players are concentrating on a plan for boosting their research and development investments in order to support future innovations. Furthermore, they will use this technique to incorporate innovation into their current product.
Segmentation of Global Edutainment Market -
Global Edutainment Market – By Gaming Gaming Type
Interactive
Non-interactive
Explorative
Hybrid Combination
Global Edutainment Market – By Facility Size
5,001 to 10,000 Sq. Ft.
10,001 to 20,000 Sq. Ft.
20,001 to 40,000 Sq. Ft.
40,000 Sq. Ft.
Global Edutainment Market – By Revenue Source
Entry fees & tickets
Food & Beverages
Merchandising
Advertising
Others
Global Edutainment Market – By Visitor Demographics
Children (0-12)
Teenager (13-18)
Young Adult (19-25)
Adult (25+)
Frequently asked questions about global Edutainment industry
The COVID-19 will have a big impact on the global edutainment business. The worldwide theme park business represents many of the issues still faced – as well as the imaginative, future-focused solutions being deployed – as the world's governments continue to manage the COVID-19 epidemic.
In terms of both value and volume, Asia Pacific had the largest proportion of the worldwide edutainment market.
The adoption of edutainment platforms for diverse disciplines, increased investment by large educational and gaming enterprises, and acceptance of new technologies such as 3D animation, virtual reality, and the beautiful digital surface will all contribute to the edutainment industry's continued expansion.
In the coming years, the hybrid combination segment is likely to gain market share. By the end of 2028, this category is expected to account for 34.1 percent of the market.
In 2022, the children category is predicted to contribute close to 35.9% of total revenue, with a robust CAGR over the next several years.
