According to the edutainment industry analysis by Future Market Insights (FMI), the demand registered in the market will increase at a healthy CAGR of 16.1% from 2022-2032.
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.
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.
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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.
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