WILMINGTON, DE / ACCESSWIRE / June 2, 2023 / Transparency Market Research Inc. - The global drive-in movie theater market was valued at US$ 5.1 Bn in 2022 and is expected to reach US$ 8.6 Bn by 2031, expanding at a CAGR of 6.2% between 2023 and 2031. The market is driven by low cost of operation of these movie theaters.
Drive-in cinemas do not need air conditioning because these are located in open spaces. Increase in disposable income, rise in urban population, and surge in spending on leisure activities are driving market development.
Modernization of drive-in cinemas has been accelerated by technological advancements. Several local players are investing significantly in these theaters to increase market share. However, the global industry has significant obstacles from not having enough of shows and bad weather.
Car movie theaters are another form of drive-in theaters. These movie theaters are built around car parking lots and are outdoor drive-in cinema setups. Movies can be watched in vehicles by viewers. Drive-in movie theaters offer a special form of micro broadcasting, in which the movie soundtrack is selected for greater quality by the viewer's in-car audio system.
A large outdoor screen, a food store, a projection booth, and a parking space are features of drive-in movie theaters. Drive-in movies are becoming more popular in restaurants and shopping centers as a way to increase sales.
For Insights on Global, Regional, and Country-Level Parameters with Growth Opportunities by 2031 - Download a Sample Report!
Market Snapshot:
| Report Coverage | Details |
| Market Revenue | US$ 5.1 Bn |
| Estimated Value | US$ 8.6 Bn |
| Growth Rate - CAGR | 6.2% |
| Forecast Period | 2023-2031 |
| No. of Pages | 160 Pages |
| Market Segmentation | Screen Size, Area, Technology, Application |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America |
| Companies Covered | AMC Entertainment Holdings Inc., Cineworld Group Plc, Cinemark Holdings, Inc., Cinepolis, Cineplex Inc., Vue International, CGV Cinemas, Wanda Film Holding Co., Alamo Drafthouse Cinemas, The Decurion Corporation |
Key Findings of Market Report
- Drive-in cinemas are becoming increasingly popular as a replacement for independent seat theaters among young and middle-aged audiences worldwide. Middle-aged audiences, particularly those who work, are increasingly opting for drive-in cinemas over standalone theaters for a calmer and soothing experience. For movie viewing, this age group prefers a private setting.
- In terms of application, the restaurant parking lots segment is anticipated to lead the global market in the next few years. Movie theaters located in restaurant parking lots are well-known for food and beverage offerings. Live concerts and various other events can additionally be held in restaurant parking lots
Buy this Premium Research Report | Immediate Delivery Available - https://www.transparencymarketresearch.com/checkout.php?rep_id=80910<ype=S
Global Drive-in Movie Theater Market: Growth Drivers
- Popularity of drive-in theater is expected to be supported by increase in adoption of the latest technologies and higher spending on digitalization. Presently, drive-in cinemas are considerably more digitalized than they were in the past. Instead of standard projectors, digital projectors are utilized. In an effort to draw in more consumers and drive-in theaters are also providing food and beverage options.
- Compared to standalone theaters, drive-ins provide greater comfort and convenience. Moviegoers may unwind in their automobiles while enjoying an excellent movie. Under a clear sky, one may enjoy a drive-in movie. Thus, rise in spending on drive-in movie experiences is expected to fuel drive-in theater industry growth in the near future.
Global Drive-in Movie Theater Market: Regional Landscape
- Asia Pacific is anticipated to account for the largest market share between 2023 and 2031. Presence of a sizable client base, technological developments, and increase in penetration of the entertainment sector are anticipated to drive market demand for drive-in movie theater in the region.
Global Drive-in Movie Theater Market: Key Players
- AMC Entertainment Holdings Inc.
- The Decurion Corporation
- Cinemark Holdings, Inc.
- Wanda Film Holding Co.
- Vue International
- Alamo Drafthouse Cinemas
Get Customization on this Report for Specific Research Solutions: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=80910
Global Drive-in Movie Theater Market: Segmentation
Screen Size
- Up to 20 ft.
- 20-50 ft.
- Above 50 ft.
Area
- Small Scale
- Large Scale
Technology
- 2D
- 3D
Application
- Restaurant Parking Lots
- Theater Parking Lots
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Latest Consumer Goods Industry Reports : -
Baby Skincare Market Growth Share from 2023 - 2031
Body Worn Insect Repellent Industry Growth from 2023 - 2031
Natural Ingredient Insect Repellent Market Growth Report 2023 - 2031
Cargo Insurance Market Size & Share Report, 2023-2031
Preserved Flower Market Size, Share | Industry Report, 2023-2031
Wooden Toys Market Size & Share Report, 2023 - 2031
Smart Bathroom Market Size | Industry Report, 2020-2031
Pressure-mounted Baby Gates Market Growth Share from 2023 - 2031
Medical Mattress Industry Growth from 2023 - 2031
Kitchen Knives Market Growth Report 2023 - 2031
Jet Hand Dryer Market Size & Share Report, 2023-2031
Hair Removal Products Market Size, Share | Industry Report, 2023-2031
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
SOURCE: Transparency Market Research inc.
View source version on accesswire.com:
https://www.accesswire.com/758855/Drive-in-Movie-Theater-Market-is-Expected-to-be-Worth-US-86-Billion-at-a-CAGR-of-62-by-the-Forecast-Period-2031-End-TMR-Study
