Family/Indoor Entertainment Centers Market Growth, Analysis, CAGR Status, and Forecast To 2027

Family / indoor entertainment centers are the places designed for people of the various ages to spend their time. The large number of gaming options for entertainment makes it possible to observe a large crowd and thus to drive the market at family entertainment centers. These centers offer a variety of fun options including arcades, gaming consoles, video games, playground areas, indoor playground systems, redeemers, child-driving, skill-oriented machine games, and virtual and enlarged-reality gambling. FECs are also host to private events such as birthday parties and corporate events in areas such as malls.

This report offers a comprehensive study of the global family/indoor entertainment centers market, with focus on market opportunities and possible constraints, along with the latest trends driving the market.

Global Family/Indoor Entertainment Centers Market: Notable Developments

Adoption of Technologically Advanced Games/Entertainment

Currently, increasing reality (AR) and virtual reality games (VR) are trendsetting and players on the market of families and indoor entertainment centres. In addition, several gaming companies also focus on developing different technologies to enhance the experiences of the gaming in families and indoor entertainment centres. Manufacturers work on mixing AR and VR technology to produce new technologically advanced games with 3D projection mapping and interactive digital surfaces.

Loyalty Programs Offered by Vendors 

Family / indoor entertainment facilities offer loyalty programs, which is an important market driver. The program is supported by parameters like visit points, reward points, cards, memberships, etc. Loyalty programs. These loyalty programs are used to retain and attract new customers with advertising aid in family / indoor entertainment centers. 

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• Launch of Innovative Offerings and Services 

Dave and Busters, the current leading establishment in the global family/indoor entertainment centers market is expediting its growth by offering unique services and efficient promotional marketing. The vendor focuses on providing users with an unforgettable experience, which is a key trait that the millennial generation demands. Dave and Busters has catered to this demand quite efficiently, making them global leaders in the market. 

Key vendors operating in the global family/indoor entertainment centers market are CEC Entertainment, Dave & Buster's, Main Event Entertainment, Time Zone Entertainment, and Smaash Entertainment.

Global Family/Indoor Entertainment Centers Market Dynamics

Because of various economic factors, ticket prices at entertainment centers constantly increase. Ticket prices will also vary based on the location of family entertainment centres, which also impedes FEC's growth in revenues during the projected period. The increase in disposable income per capita, the availability of diversified gaming and entertainment options and favorable demographics among young people in the Asia-Pacific region drive the growth of the market for family-oriented entertainment centers. 

Family centers for indoor and entertainment usually calls for 8-14-year-olds and their parents. In many Asian countries the median age is in the twenties and early thirties. This shows the penetration into the Asia-Pacific of young persons under the age of 14 years, and parents spend more on their children with rising revenues & expectations, which are expected to drive growth in the global families / indoor entertainment centers market. 

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North America to Dominate Regional Markets 

Due to the numerous players involved in this region, the market for the family and indoor entertainment centers in North America is forecasted to dominate the global market for family and indoor entertainment centers. The family / indoor entertainment facility market in Asia-Pacific is estimated to increase at a significant rate over the forecast period, given that growing GDP in Asia-Pacific countries such as China, India and Japan has increased the capacity of individuals in the region. As a result of a consistently growing middle class population and increased disposable revenue, this regional market is prognosticated to grow.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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Outdoor LED Displays Market 2020-2027 Growth Analysis, Trends, Key Feature, Dynamic Innovation and Forecasts

Outdoor LED displays are utilized in offering improved view of various events such as exhibitions, sports events, live concerts, and many others. This factor is playing an important role in the increased adoption of LED displays in several countries across the globe for purposes like sports and advertising. This is likely to drive the global outdoor LED displays market over the years of projection.

Outdoor LED displays come with several advanced features, which are likely to escalate the demand for the product. These features are prolonged life, high-energy efficiency, and low operational price. Several LED companies offer end-to-end service to their clients such as displaying on site and installation. Furthermore, increased utilization of these platforms for fostering the promotional behaviors of several corporate brands are likely to trigger development of the global outdoor LED displays market. Video walls and advertising boards are used for such brand promotions.

Type, application, and region are displays market the three key parameters based on which the global outdoor LED displays market has been segmented for a detailed discussion. The sole purpose of such segmentation is to offer a clearer, precise, 360-degree view of the market.

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Global Outdoor LED displays market: Notable Developments

One of the developments that offer a glimpse of the market dynamics about the global outdoor LED displays market is mentioned below:

• In February 2020, North America-based NEC Display Solutions is a prominent provider of digital signage solutions. The company made an announcement of an update regarding its Q series of dvLED (direct view LED) display lineup. This new display solution comes with an extended lifespan and high quality images. The improvement in the quality of image indicates at higher rate of refresh and more colors that are displayable. This upgradation is likely to increase the market share of the company in near future.

The global outdoor LED display market is highly competitive and driven by latest technologies. Some well-known organizations in the global outdoor LED displays market include the below-mentioned:

• Sony Corporation
• LG Electronics, Inc.
• Data Display Co., Ltd.
• Panasonic Corporation
• Toshiba Corporation
• Buchi Labortechnik AG

Global Outdoor LED displays market: Key Trends

The global outdoor LED displays market is likely to observe following drivers, opportunities, and restraints over the assessment period, from 2019 to 2027.

Augmented Spend on Promotional Activities to Shape Contours of the Market

Augmented demand for outdoor LED displays for the purpose of broadcasting advertisements and live actions have increased over the years, which is positively affect the global outdoor LED displays market over the years of projection.

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In the last couple of years, a rising number of sports and musical events are being aired in open spaces. In addition, development of sports arenas and open air venues is likely to shoot up the demand for the product in near future. A surge in the brand endorsement and promotion activities together with colossal rise in the development of new products is likely to play an important role in the development of the global outdoor LED displays market.

In addition to that, the prominent sports companies in the market are making hefty investments in the promotion of their products through outdoor LED displays. These increased promotional activities are estimated to draw attention of a large number of consumers toward sports products. As such, the demands for outdoor LED displays are expected to rise. In addition, a huge rise in the number of various sports events, such as IPL, FIFA World Cup, UEFA Europa League, Olympics, and many other events are likely open up new avenues of revenue generation for the global outdoor LED displays market in the years to come.

Global Outdoor LED displays market: Geographical Analysis

Europe is likely to come up as one of the dominant territories with a leading role in the revenue generation. The growth of the outdoor LED displays market in Europe is likely to be influenced by the rising number of sports events.

Asia Pacific is a region that holds immense possibilities for the market in near future. Driven by the billion dollar advertising business in the region, the global outdoor LED displays market is likely to observe rapid growth in the region. In addition, availability and integration of advanced technologies together with rising disposable income of the people in the region is expected to shoot up demand of the product in the region.

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Metal Gear Component Market to Witness Robust Expansion by 2030

According to the report, the metal gear component market is projected to reach US$ 308.6 Bn by 2030, expanding at a CAGR of ~4% during the forecast period. The increase in global warming is prompting most gear manufacturers to develop efficient gear mechanisms for vehicles, machinery, and heavy material handling equipment to improve the efficiency of the equipment, which, in turn, is anticipated to boost the metal gear component market across the globe. Technological progression and development in terms of material science is anticipated to enhance the quality of gear products. Therefore, gears manufactured are expected to possess high strength, temperature-resistance, and enhanced corrosion and abrasion resistance. Such gears when adopted in machinery are expected to provide high efficiency and low carbon emission.

Advancements in terms of electric vehicle technology are expected to boost the production of electric vehicles (EVs) across the globe. Furthermore, an increase in the demand for electronics, home appliances, and various consumer goods across the globe is anticipated to boost their production. All these factors are expected to drive the metal gear component market across the globe.

Expansion of Metal Gear Component Market

Based on material, the metal gear component market has been segmented into steel, brass, aluminum, iron, and powdered metals. Steel is likely to be a highly lucrative segment during the forecast period, primarily due to a worldwide adoption of steel to manufacture metal gears, as steel provides high resistance to temperature, corrosion, and abrasion. Moreover, it is available at cheaper prices. In terms of industry, the automotive industry is anticipated to dominate the global metal gear component market.

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The increase in per capita income coupled with various automakers slashing vehicle prices to overcome economic losses, owing to global automotive slowdown in 2018 and 2019, can be attributed to a rise in the demand for high performance, and fuel-efficient vehicles. This, in turn, is leading the automotive industry segment to account for a significant share of the global metal gear component market.

Regional Analysis of Metal Gear Component Market

In terms of region, the global metal gear component market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the global metal gear component market in 2019. It is anticipated to hold a leading share during the forecast period due to the rise in production and sale of various consumer goods, increase in import and export of commodities owing to flexible government policies, and increased production of vehicles in China, India, Indonesia, and Japan. Furthermore, increased demand for electric vehicles across Asia Pacific is anticipated to boost the automotive industry and consequently, propel the metal gear component market in the region.

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Metal Gear Component Market Players

A few prominent players operating in the global metal gear component market include American Axle & Manufacturing, Inc., Amtek International, B & R Machine and Gear Corporation, Bharat Gears Ltd., Circle Gears & Machine Corporation, Cone Drive Operations Inc., Dupont, Dynamatic Technologies Ltd., Eaton, Franz Morat Group, Gear Motions, GKN PLC, IMS Gear GmbH, Kohara Gear Industry Co., Ltd., RENOLD, Robert Bosch GmbH, RSB, SAMGONG GEAR IND. CO., LTD., Showa Corporation, Taiwan United Gear Co., Ltd, Univance Corporation, Universal Auto Gears LLP, Varroc Group, and ZF.

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Automotive Wheel Market Trends and Development 2020-2030 due to COVID-19 Impact

According to the report, the global automotive wheel market is projected to surpass US$ 43.7 Bn by 2030, expanding at a CAGR of ~4% during the forecast period. Rise in demand for vehicles across the globe is likely to boost the automotive wheel market across the globe. Moreover, increase in preference for utility vehicles and luxury vehicles in conjunction with rise in the demand for comfort and luxury vehicles among consumers globally, is anticipated to propel the automotive wheel market.

Automotive Wheel Market: Introduction

According to the report, the global automotive wheel market is projected to surpass US$ 43.7 Bn by 2030, expanding at a CAGR of ~4% during the forecast period. Rise in demand for vehicles across the globe is likely to boost the automotive wheel market across the globe. Moreover, increase in preference for utility vehicles and luxury vehicles in conjunction with rise in the demand for comfort and luxury vehicles among consumers globally, is anticipated to propel the automotive wheel market.

The global automotive wheel market is anticipated to expand during the forecast period, owing to an increase in average size of wheels. The standard size of wheel rims, which was earlier 15’’-16’’, is moving to 17’’ and above. Preference for larger wheels is rising among consumers. Sales of vehicles with high ground clearance, such as SUVs, are rising, which in turn utilize large alloy wheels. For instance, after a global slowdown in the automobile industry, several governments have reduced taxes on automobiles to encourage sale of vehicles. This is likely to propel the automotive wheel market across the globe.

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Expansion of Automotive Wheel Market

The change in trade policies by the Trump Administration, such as withdrawal of trade agreement with South Korea and continuous fluctuation on tariff with import and export to China, is likely to affect the market during the forecast period. However, the U.S.-China trade has witnessed a positive turnaround and the relation between the countries is anticipated to get better. Surge in trade volume, owing to rising bilateral trade among countries is projected to boost the automotive wheel market during the forecast period. China witnessed an increase in both general trade volume and proportion, escalating to Yuan 15.66 Trn. China trade volume accounted for 56.4% of total foreign trade. Major trading partners of China are the U.S., the European Union, and ASEAN. Exports of China to the U.S. further rose by 15.2% year-on-year.

Based on vehicle type, the global automotive wheel market has been segmented into passenger vehicle and commercial vehicle. Passenger vehicle is likely to be a highly lucrative segment during the forecast period. This is primarily due to rise in the production of passenger vehicles across the globe. The expansion of the ride-hailing industry across the globe, where passenger vehicles are widely used for transportation, is expected to propel the automotive wheel market across the globe. In terms of material, the alloy wheel segment dominated the market, owing to a rise in the demand for lightweight materials in the vehicle to enhance vehicle fuel efficiency. This, in turn, is anticipated to boost the automotive wheel market across the globe. Moreover, major vehicle manufacturers are emphasizing on investment for the innovation in material composition, which is likely to further fuel the automotive wheel market.

Regional Analysis of Automotive Wheel Market

In terms of region, the global automotive wheel market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the global automotive wheel market in 2019. It is anticipated to hold a leading share during the forecast period due to rise in production and sale of vehicles in China and countries in ASEAN. The major presence of automotive component manufacturers across Asia Pacific further boosts the automotive wheel market across the globe. Followed by Asia Pacific, Europe also held a major share of the global automotive wheel market due to the presence of a large number of tier-1 suppliers who have advanced research and development facilities for wheels, which in turn is likely to boost the automotive wheel market across the globe.

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Key Players

Prominent players operating in the global automotive wheel market include ARCONIC, BBS Alloy Wheel, BORBET GmbH., CITIC Dicastal Wheel Manufacturing Co., Enkei, Fuel Off Road Wheels, Foshan Nanhai Zhongnan Aluminum Wheel Co., Ltd., MAXION Wheels, MHT Luxury Wheels., RONAL Group, TSW Wheels, WHEELPROS LLC, and Superior Industries International Inc.

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Automotive Homologation Services Market to Witness a Pronounce Growth During 2030

The stricter regulations in terms of automotive homologation across the globe and the growing need for assurance of safe and efficient vehicles among a considerable populace can serve as prime growth factors for the automotive homologation services market. The companies offering automotive homologation services help an individual to obtain the ideal approvals required to sell a vehicle in a specific country. The automotive homologation standards aim to enhance car safety, ensure the environmental compliance of the vehicle, and also assure that the parts of the vehicle are of good quality.  

The automotive homologation services market provides its services to automobiles like passenger vehicles, motorcycles, commercial vehicles, trailers, and others. Based on sourcing type, the automotive homologation services market can be classified into Outsourced services and In House services.

This report on the automotive homologation services market offers an expanded analysis of the varied growth aspects such as current trends, competitive scenarios, regional overview, and others. The thorough analysis proves of great advantage to the stakeholders and offers a helping hand in designing exceptional strategies for cementing their foothold in the automotive homologation services market. The report also includes the COVID-19 impact on the automotive homologation services market.

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Automotive Homologation Services Market: Competitive Scenario

The automotive homologation services market can be classified as fragmented with numerous players in fray for offering cutting-edge homologation services. Local players with expertise in their countries are gaining considerable traction. The players in the automotive homologation services market are always engaged in spinning a strong web of network through tie-ups with ISO/IEC 17025-compliant laboratories for expanding their foothold around the globe and assure complete accuracy in test reports of the vehicles.

A focus on developing services based on the latest regulations brings extensive growth opportunities for the players in the automotive homologation services market. Some well-established players in the automotive homologation services market are Applus Services S.A., Lloyd’s Register Group Limited, TÜV SÜD Group, Eurofins Scientific, Formel D, Bureau Veritas S.A., EKRA SE, MISTRAS Group, Inc., and SGS Group.

Automotive Homologation Services Market: Impact of Driverless Technology

The advancements in technology have taken big leaps across the automobile industry. Driverless technology is one of the prominent technological developments and is prophesied to change the dimensions of the automobile industry. As the production and global reach of autonomous vehicles gain traction, the governments of different countries are coming up with novel regulations regarding autonomous vehicles.

The players in the automotive homologation services market are focusing on these developments and are investing in comprehensive capabilities for supporting the success of emerging technologies. Many players in the automotive homologation services market are offering services that cover Bluetooth compliance, device durability testing, cellular regulatory and carrier approvals, etc.

• Such developments may bring immense growth prospects for the automotive homologation services market. Here are some developments regarding the regulations for autonomous vehicles.
• The Australian Transport Ministry is developing a national regulatory framework to allow smooth operations of autonomous vehicles in Australia and the work is stated to complete in 2021
• The National Highway Traffic Safety Administration (NHTSA) recently announced the new Automated Vehicle Transparency and Engagement for Safe Testing Initiative Test (AV Test) that will help in tracking the status of Autonomous Vehicles’ (AVs) in the U.S.
• The German Government is in the process of preparing legislation commercializing driverless vehicle technology soon; it will be the first comprehensive legal framework that will cover road traffic requirements and homologation for robot axis

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Automotive Homologation Services Market: Regional Segmentation

The automotive homologation services market is spread across North America, Latin America, the Middle East and Africa, Europe, and Asia Pacific. Europe may contribute greatly to the automotive homologation services market during the forecast period due to the increase in automotive production activities in the region. The growing influence of autonomous vehicles may also bring considerable growth for the automotive homologation services market.

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Hydrogen CNG Bus Market Expected to Witness a Sustainable Growth over 2030

 

• Global restrictions on vehicle fuel consumption and emissions, enacted by various regulatory authorities, are prompting automakers to develop vehicles to run on alternative fuel energy such as CNG, electricity, and bio-diesel. Vehicles using alternative fuel energy are emission-free and have low operation cost as compared to traditional fuel, i.e. gasoline and diesel. Additionally, governments are increasingly focusing on adoption of hydrogen CNG for running transportation buses. This, in turn, is driving the global hydrogen CNG bus market.

Key Drivers of Hydrogen CNG Bus Market

• Various government organizations and authorities are enacting stringent regulations on the use of IC-engines in order to reduce vehicle emissions and curb climate change. Furthermore, governments are offering subsidies on alternate fuel energy vehicles in order to spread awareness about green vehicles, which in turn, is reducing the cost of ownership of alternate fuel vehicles and subsequently, driving the global hydrogen CNG bus market.
• For instance, the Government of India announced a plan to provide subsidies for hybrid and electric vehicles. The plan is expected to offer subsidies up to Rs. 150,000 (Approximately US$2,200) for cars and Rs. 50,000 on two wheelers. Moreover, in 2019, the Government of India announced income tax benefits for buyers of electric vehicles; and provided incentives for manufacturing of components and development of manufacturing hubs for electric vehicles and components locally (in India).
• The forced shutdown of manufacturing and production facilities across the globe owing to the coronavirus pandemic has hampered the global hydrogen CNG (HCNG) bus market. However, the market is anticipated to recover by increasing production volume of HCNG buses in order to recover from economic losses. This, in turn, is projected to offer lucrative opportunity to players operating in the supply chain of the hydrogen CNG bus market during the forecast period.

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Hydrogen CNG Bus Market: Restraint

• Automakers are emphasizing on research toward adoption of H-CNG for their vehicles, such as sedans, hatchbacks, and luxury vehicles; however, researchers believe that the H-CNG technology is not fully developed to be adopted into vehicles yet. Tests conducted so far have been conducted only on heavy-duty engines. Researchers believe that small and medium passenger vehicles would not be able to adopt H-CNG with the prevailing technology, as hydrogen is “highly volatile” and has the possibility of a rise in combustion temperature.

North America and Europe combined are anticipated to dominate global hydrogen CNG bus market

• In terms of region, the global hydrogen CNG bus market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa
• North America dominated the global market, due to government policies and high demand for public transport buses. Moreover, government policies to lower emission, high awareness about technology, and technologically advanced research & development institutes dedicated to the automotive industry are other factors boosting the market in North America. Europe, followed North America, and is expected to account for a notable share of the global hydrogen CNG market due to an increase in awareness about benefits of HCNG buses including reduced vehicle emission and low operation cost.

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Key Players Operating in Hydrogen CNG Bus Market

The global hydrogen CNG bus market is in the nascent stage. Therefore, very few players have invested in hydrogen-CNG technology. The major players operating in the global hydrogen CNG bus market are:

• Agility Fuel Solutions
• Tata Motors
• Ashok Leyland
• Grande West Transportation Group Inc.

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Automotive Domain Control Unit Market Research Report from 2020-2030

 

• Increasing trends toward vehicle electrification is expected to propel the global automotive domain control unit market. Rise in trend toward integration of automotive electronic hardware fuels the demand for domain control hardware, which enables the integration of several electronic systems on a single platform in the vehicle.

Key Drivers of automotive domain control unit market

• Rise in the demand for centralized vehicle architecture is expected to propel the global automotive domain control unit market. Modern vehicles are equipped with various electronic devices and systems, such as anti-lock braking system, active suspension system and airbag system, to enhance vehicle safety. The domain control unit (DCU) can offer a common platform to integrate all these systems, thereby driving the global domain control unit market.
• The DCU can integrate several vehicle systems owing to its powerful hardware computing capacity and availability of sundry software interfaces, which enable integration of multiple core functional modules. This, in turn, lowers the need for additional dedicated ECUs (electronic control units) and execution hardware, thus reducing the spending on research, development, and manufacture of automotive systems.
• However, disruptions in supply chain catering to the automobile industry, owing to shutdown of production and manufacturing facilities caused by the coronavirus pandemic across the world, is estimated to contract the market in 2020-2021. Consequently, the coronavirus pandemic has hampered the global automotive domain control unit market. The market is anticipated to recover by increasing production volume of vehicle components as well as vehicle production in 2021. This, in turn, is projected to offer lucrative opportunity to players operating in the supply chain of the automotive domain control unit market during the forecast period.

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Automotive Domain Control Unit Market: Opportunity

• Autonomous vehicles (AVs) are equipped with state-of-the-art vehicle infrastructure and several advanced technologies that require a common hardware platform to enable multi-sensor fusion, which are engaged in various applications such as localization, path planning, decision making and control, V2X, and high-speed communication. Additionally, AVs have interfaces for cameras, multiple radars, LiDAR, and IMU, which aid the ADAS (Advanced Driver Assist Systems) in the vehicle.
• The vehicle computer in AVs carry out number crunching, with the help of a built-in core processor with strong computing power. DCUs are being adopted by several major automakers to integrate all the systems mentioned earlier on a single and central hardware. This, in turn, is anticipated to offer significant opportunity to the players engaged in the design, development, and production of DCUs.

North America and Europe, cumulatively, to account for major share of global automotive domain control unit market

• In terms of region, the global automotive domain control unit market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa
• North America and Europe, cumulatively, are expected to account for a major share of the global domain control unit market. High disposable income of the population and openness toward new technologies in these regions are propelling the automotive domain control unit market. Rise in awareness about benefits of DCUs among automakers in countries across North America and Europe is further propelling the global automotive domain control unit market in these regions.

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Key Players Operating in Automotive Domain Control Unit Market

The global automotive domain control unit market is highly concentrated due to the presence of top manufacturers. A few key players operating in the automotive domain control unit market are:

• Aptiv
• Baidu Domain Controller
• Continental AG
• Cookoo
• Desay SV
• Eco-Ev
• Higo Automotive
• Hirain Technologies
• iMotion
• Magna International Corporation
• Neusoft Reach
• Robert Bosch GmbH

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