According to a new market research report published by Credence Research “Global Edutainment Market (Game Type (Interactive, Non-Interactive, Explorative, Hybrid); 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. ); Revenue Source (Entry Fees & Tickets, Food & Beverages, Merchandising, Advertising, Others ); Age Group (0-12 years, 13-18 years, 19-25 years, Over 25 years)) Market – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the edutainment market was is set to grow with a CAGR of 17% during the forecast period, up from US$ 2.30 Bn in 2018.
The global edutainment market is driven by the increasing investment in the education technology sector. The investment in the edutech sector has increased significantly in the past five years. In 2017, the investment in the edutech sector was estimated be approximately US$ 9.5 bn with the increase of more than 30% as compared to the 2016. The growing penetration of internet services and technological advancement in the education sector is attracting the investment. Also, it has been noticed that out of more than US$ 37 bn in the education technology since 1997, over 60% of the investment comes from the past three years. This is encouraging the adoption of the edutainment market. Moreover, the integration of the AI, augmented reality and virtual reality into the education sector is driving the market growth.
The edutainment market is characterized by age group segment into 0-12 years, 13-18 years, 19-25 years, and over 25 years. The age group 0-12 years is dominating the edutainment market with the majority share in the revenue in 2018. The increasing focus of the education institutes to provide personalized education content to the students. Furthermore, the integration of the advance technologies into the learning model is further accelerating the market growth. Asia Pacific is projected to grow significantly during the forecast period. The growth of the market is driven by the increasing adoption of the smartphone and internet services across the region are adoption of the edutainment market. The increasing disposable income of the individuals in the region is augmenting the market growth. Moreover, the increasing urbanization across the developing countries is driving the demand for the education services.
Key vendors in the edutainment market are Grey Sim, CurioCity, Kidz Holding S.A.L., ConveGenius, Kidzania, Legoland Discovery Center, Kindercity, Little Explorers, Pororo Parks, Totter’s Otterville, Mattel Play Town, and Plabo.
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