With the emergence and long-term Impact of COVID-19, Global Drive-in Movie Theater Market to reach USD 8.25 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Drive-in Movie Theater Market is poised to raise up to USD 8.25 Billion by 2030. The Drive-in Cinema consists of an outdoor cinema facility with a large outdoor movie screen and projection system. Drive-in Theaters are based on parking areas where customers can view movies in the privacy and comfort of their cars. The increased popularity of movies and growth in the entertainment industry are the key factors responsible for the market growth of the Drive-in Movie Theater Market over the forecast period.
The increasing popularity of movies is one of the primary reasons for the growth of the market. Also, an increase in disposable income and a rise in urban population accelerate market growth. Moreover, technological advancement and modernization of drive-in-movie theaters and increased investment by the key players in cinema are anticipated to create a positive outlook for the market. However, a limited number of shows and adverse weather conditions will stifle market growth throughout the forecast period of 2023-2030.
Geographically, the global Drive-in Movie Theater market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Asia Pacific dominated the market in terms of revenue owing to factors such as advancements in technology, the presence of a large customer base and government support further contribute to its dominance growth in the drive in movie industry. North America is the fastest-growing region due to rising demand for drive-in movie theatres and technological advancements in projection and audio systems, has contributed to the market’s expansion in the region.
The global Drive-in Movie Theater market is highly competitive owing to the presence of several key market players such as AMC Entertainment Holdings Inc., Cineworld Group Plc, Cinemark Holdings, Inc., Cineplex Inc., Vue International Bidco PLC, Wanda Film Holding Co Ltd, Alamo Drafthouse Cinemas LLC, The Decurion Corporation, and others.
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Global Drive-in Movie Theater Market Size study & Forecast, by Screen Size (Up to 20 ft., 20-50 ft., Above 50 ft.), by Area (Small Scale, Large Scale), by Technology (2D, 3D), by Application (Restaurant Parking Lots, Theater Parking Lots), and Regional Analysis, 2023-2030
Key findings of the study suggest:
- Global Drive-in Movie Theater Market is anticipated to grow with a healthy growth rate of more than 6.2% over the forecast period 2023-2030.
- In the Screen Size segment, 20-50 ft emerged out as the leading market segment in 2022.
- In the Area Segment, Large Scale emerged as the leading market segment in 2022.
- In the Technology Segment, 2D has emerged as the leading market segment in 2022.
- In the Application Segment, Restaurant Parking Lots emerged out as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth Owing to factors such as advancements in technology, the presence of a large customer base and government support further contribute to its dominance growth in the drive in movie industry.
- North America is expected to grow at a higher rate followed by North America during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
- Up to 20 ft.,
- 20-50 ft.
- Above 50 ft
- Small Scale
- Large Scale
- Restaurant Parking Lots
- Theater Parking Lots
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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