Global Location-Based Virtual Reality Spending to Reach $3.6 Billion in 2019, says Greenlight Insights

Avatar Alexandra Vidger Location-Based Entertainment, Press Releases, Virtual Reality

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 In 2023, the number of venues offering location-based virtual reality is expected to nearly double, to 24,500 global locations.

San Francisco, August 5, 2019 — Virtual reality in location-based entertainment is set to reach $3.6 billion in 2019, according to  Greenlight Insights important new report, 2019 Location-Based Virtual Reality Industry Report. This report includes global forecasts and analysis of the adoption and use of virtual reality in arcades, entertainment centers, malls, cinemas, theme parks, museums, internet cafes, and other out-of-home venues. The report also provides overviews of major competitors in the field including Dave & Busters, The VOID, Zero Latency, and more.

In just a few short years, the use of virtual reality systems in location-based entertainment has blossomed from a novel attraction in a few locales to a global phenomenon. Now, a second wave of innovation is set to take place, turning location-based VR into a global, multi-billion dollar industry. This report features analysis of activity in the location-based virtual reality market, including the penetration of different venue types, operating statistics, technology setup, and content offerings.

"The location-based virtual reality industry has grown quickly since 2016, with industry leaders starting to consolidate. Operators have warmed up to incorporating immersive experiences into their venues, as the keys to profitability have been discovered,” said Alexis Macklin, Research Manager at Greenlight Insights, “Looking to the next three years, more large operators will be investing, and virtual reality installations will be both family-friendly and attractive to first-time users, offering more titles that anyone can enjoy, at any age and at any skill level."

MARKET VALUE: The global location-based virtual reality sector is expected to reach a value of $3.6 billion in 2019.
MARKET VALUE FORECAST: In 2023, the global location-based virtual reality sector is forecasted to have a value of $11.8 billion, a compound annual growth rate of 31.1% from 2019.
VENUE PENETRATION: Worldwide, the number of venues offering location-based virtual reality is has increased to more than 13,000 locations in 2019, growing to more than 24,500 sites in 2023.

Greenlights Insights is seeing rapid growth in most areas of the industry, and expects this growth to continue for several years. This report provides detailed revenue forecasts, key revenue metrics, competitive dynamics, and industry analysis for executives operating in the out-of-home entertainment marketplace. 

Greenlight Insights’ 2019 Location-Based Virtual Reality Industry Report is available now. For more information, and to become a subscriber to email hello@greenlightinsights.com, visit greenlightinsights.com, or call 415-854-3282.

For more information about the 2019 Location-Based Virtual Reality Industry Report visit, https://greenlightinsights.com/reports/2019-location-based-virtual-reality-report.

About Greenlight Insights

Greenlight Insights provides proprietary market research, consulting, and events about the future of virtual and augmented reality. Greenlight Insights delivers critical strategic insights to the world's leading technology companies, publishers, service providers, institutional investors, and government entities. 

Based in San Francisco, with offices in Boston and Denver, Greenlight Insights comprises a diverse team of highly-skilled industry professionals who offer deep expertise in virtual and augmented reality. For more information, visit greenlightinsights.com.