Chicago, May 31, 2024 (GLOBE NEWSWIRE) -- The Location Based Entertainment Market is estimated at USD 3.5 billion in 2023 and is projected to reach USD 11.8 billion by 2028, at a CAGR of 27.3% from 2023 to 2028, according to a new report by MarketsandMarkets™.  The demand for advanced technologies like augmented reality (AR), virtual reality (VR), mixed reality (MR), etc. to drive the growth of the location based entertainment market. Browse in-depth TOC on "Location Based Entertainment Market" 234 - Tables 44 - Figures 240 - Pages Download Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=9392821 Location Based Entertainment Market Dynamics: Drivers: Advancements in VR gaming with location based entertainment. Advancements in VR and AR technologies Integration of artificial intelligence (AI) and machine learning (ML) technologies Rising demand for social and shared experiences Restraints: Limited scalability of location based entertainment business. High upfront cost Opportunities: Increase in live events and performances. Rising popularity of wearables such as fitness trackers and smartwatches List of Key Players in Location Based Entertainment Market: Google (US) Meta (US) Microsoft (US) Nvidia (US) Unity Technologies (US) Sony Interactive Entertainment (US) Samsung (South Korea) Barco Electronic Systems (Belgium) Panasonic (Japan) Huawei Technologies (China) Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=9392821 Location based entertainment pertains to a category of entertainment that transpires in a designated physical space or setting, such as amusement parks, galleries, game arcades, and other entertainment facilities. LBE experiences usually involve active participation and immersion, incorporating cutting-edge technologies such as virtual reality (VR), augmented reality (AR), mixed reality (MR), and other sensory effects to augment the overall experience. Based on technology, the augmented reality segment is expected to grow with the highest CAGR during the forecast period. Augmented Reality (AR) technology has become a popular choice in location based entertainment due to its ability to create immersive and interactive experiences for users. In location based entertainment settings, users typically wear AR headsets or use mobile devices to overlay virtual elements onto the real world environment. This ...