Kenneth Research, in its repository of market research reports, have recently added a report on Edutainment Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Edutainment Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Edutainment Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
The report covers the forecast and analysis of the Edutainment market on a global and regional level. The study provides historical data from 2015 to 2018 along with a forecast from 2019 to 2027 based on revenue (USD Million). The study includes drivers and restraints of the Edutainment market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Edutainment market on a global level.
In order to give the users of this report a comprehensive view of the Edutainment market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.
The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new service & product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.
The study provides a decisive view of the Edutainment market by segmenting the market based on component, age group, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2027. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Moreover, few of the gaming producers are targeting new technologies for enhancing the virtual gaming experiences at the edutainment centers through a combination of VR and AR techniques with 3D projection mapping as well as interactive digital tools to produce advanced games. This will further drive the growth of the edutainment industry over the forecast timeline. Apart from this, highly digitized educational tools will spur the expansion of the edutainment industry over the forecast period.
Based on the component, the market is sectored into Edutainment Channels, Games, & Applications and Edutainment Centres. The Edutainment Centres segment is further divided into Indoor Play and Entertainment Centers and Educational Parks. On the basis of age group, the industry is classified into Children (0 to 12 years), Teenager (13 to 19 years), and Young Adult (20 to 25 years).
Some of the key players in the market include Curiocity, Edsys, IdeaCrate Edutainment Company, Junior Explorers, Inc., KIDZ Holding S.A.L, KidZania Operations S.A.R.L., KinderCity, Majid Al Futtaim Holding, PAX Edutainment Pvt. Ltd., DreamUs Edutainment, The LEGO Group, White Hutchinson Leisure & Learning Group, and Zee Learn Ltd.
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