Drive-in-Movie Theater Market to hit USD 9.5 billion by 2032, says Global Market Insights Inc.
Drive-in-Movie Theater Industry is projected to witness a CAGR of 6% during the period 2023-2032. This growth can be attributed to the rising consumer spending as well as digitization in the entertainment industry.
Selbyville, Delaware, Aug. 20, 2023 (GLOBE NEWSWIRE) --Drive-in-Movie Theater Market size is expected to be worth USD 9.5 billion by 2032. The rising integration of advanced technologies and the ongoing improvement of drive-through areas will contribute to robust industry evolution. With entertainment venues adapting modern preferences, drive-ins are increasingly incorporating state-of-the-art audio systems, high-definition screens, and mobile apps for ticketing and ordering concessions.
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The introduction of mobile apps for ticketing, concessions, and other services has made the overall experience more convenient for customers. Additionally, the convergence of various technologies and infrastructure upgrades for attracting wider audiences to seek unique and socially distanced entertainment options.
*Up to 20ft drive-in theaters to record considerable expansion*
Drive-in-movie theater market from up to 20ft size segment is likely to witness significant increase at over 5% CAGR from 2023-2032. This can be attributed to the rising popularity of this compact category as it appeals to smaller venues and urban spaces for providing an intimate cinematic experience. These drive-ins leverage advanced projection and sound technologies to maximize the visual and auditory impact within the limited space. Increasing adaptability in diverse locations and events for attracting a range of audiences seeking cozy yet immersive entertainment options.
*3D Drive-in theaters to witness high demand*
Drive-in-movie theater market from the 3D technology segment amassed more than USD 1.5 billion in 2022 and is anticipated to expand at robust CAGR through 2032. Drive-in theaters deployed with 3D technology offer competitive advantages by differentiating themselves from traditional indoor cinemas and other outdoor theaters. The utilization of advanced 3D technology enhances storytelling and engages viewers by transforming traditional outdoor cinema into cutting-edge entertainment venues. The access to immersive 3D experience and the rising efforts by industry participants to attract moviegoers who are looking for something beyond the standard 2D movie screenings.
*Theater parking lots to gain notable traction*
Drive-in-movie theater market from the theater parking lots application segment will expand at more than 7% CAGR from 2023-2032 due to advantages, such as existing infrastructure, shared amenities, enhanced entertainment experiences, extended movie-going experiences, and seamless integration of movie programming. Several industry players are leveraging their existing theater parking lots as drive-in theaters for attracting wider audience. For instance, in February 2023, Walmart launched its entertaining family activities at over 160 Walmart locations across the U.S. by transforming parking lots into drive-in movie theatres.
*Europe to emerge as a lucrative industry destination*
Europe drive-in-movie theater market size is estimated to generate more than USD 2.4 billion by the end of 2032 driven by the vibrant cultural events and festivals in the region. Drive-in movie theaters have been incorporated into these events for offering movie screenings as part of larger cultural and festival programs. The evolving urban spaces and cultural preferences has popularized drive-in theatres for offering safe and unique cinematic experiences. Furthermore, the availability of modern amenities, such as digital ticketing, diverse food offerings.
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*Drive-in-movie Theater Industry Participants*
Some of the major companies operating in the drive-in-movie theater market are Maryland Skyline Drive-In NYC, Shankweiler's Drive-In Theatre, MassachusettsCoyote Drive-In & Canteen, West Wind Drive-Ins, New YorkWellfleet Drive-In, TexasFamily Drive-In, Capri Drive-In Theatre, Van Buren Drive-In Theatre, Bengies Drive-In Theater, Galaxy Drive-In Theatre, Sunset Cinema Club, and MichiganStar Drive-In Theatre. These industry players are taking efforts towards acquisitions and partnerships to widen their revenue share.
*Partial Table of Contents (ToC) of the report:*
*Chapter 3 Drive-in-Movie Theater Market Insights*
3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Rise in inclination of youth and middle age groups towards drive-in-movie theaters
3.10.1.2 Incorporation of advanced technologies and enhancement of drive through areas
3.10.1.3 Wide usage of restaurant parking lots for drive-in movie theaters
3.10.1.4 Rising consumer spending as well as digitization in the entertainment industry
3.10.1.5 Increase in number of drive-in-movie theaters
3.10.2 Industry pitfalls & challenges
3.10.2.1 Seasonal nature and weather dependence
3.10.2.2 High initial setup costs
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
*Chapter 4 Competitive Landscape, 2022*
4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players, 2022
4.3.1 Malco Theatres
4.3.2 West Wind Drive-Ins
4.3.3 Capri Drive-In Theatre
4.3.4 Coyote Drive-In & Canteen
4.3.5 Delsea Drive-In Theatre
4.3.6 Wellfleet Drive-In
4.3.7 Bengies Drive-In Theater
4.4 Competitive positioning matrix, 2022
4.5 Strategic outlook matrix, 2022
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*About Global Market Insights*
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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