Drive-in Movie Theater Market: Introduction
- The history of drive-in movie theaters dates back to 1930s. In 1932, the first drive-in movie theater was patented in Camden, New Jersey, U.S. A drive-in movie theater, sometimes also referred to as a drive-in cinema, operates similar to regular cinema theaters. However, operating costs of drive-in cinemas are relatively low, as they are in open area and do not involve air conditioning facilities like standalone cinema halls. A drive-in movie theater comprises a projection booth, a big outdoor screen, a concession stand, and a huge parking area for vehicles.
Key Drivers of the Global Drive-in Movie Theater Market
- Rising consumer spending on recreational activities and growth in urban population are driving the demand for drive-in movie theaters across the world. Furthermore, young consumers are preferring drive-in movie theaters as an alternative to standalone or in-seat theaters. Technology advancement and rising consumer awareness in untapped markets are expected to boost the market in the near future.
- Rise in disposable income in emerging economies is prompting consumers to spend on multiple entertainment alternatives. Modernization of drive-in theaters and increasing number of local players are attracting potential audiences to enjoy open-air cinemas in their own automobiles. Global movie theater chains are renovating old drive-in movie theaters with the use digital technology to target modern and young consumers.
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COVID-19 Pandemic to Offer Significant Opportunities in the Coming Years
- Rules of social distancing during the pandemic have led to the resurgence of drive-in cinema in different parts of the world. Drive-in cinemas were widely preferred during lockdown days, as indoor cinema theaters were unable to operate due to the restrictions on mass gatherings.
- Uncertainty in the vaccine programs and the introduction of new coronavirus strain in Europe and South Africa are anticipated to further promote the adoption of drive-in movie theaters over standalone theaters. For instance, in July 2020, The Philippines' shopping mall chain SM Supermalls opened the country's first drive-in theater near SM City Pampanga.
Asia Pacific to Become a Major Market for Drive-in Movie Theaters by 2030
- Based on geography, the global drive-in movie theater market is classified into South America (SA), North America (NA), Europe (EU), Middle East & Africa (MEA), and Asia Pacific (APAC).
- Country-level bifurcation of the North America market includes the forecast and analysis for the U.S., Canada, and Rest of North America. Country-level analysis and forecast for the Europe market includes historical and forecast analysis for the drive-in movie theater market in the U.K., Germany, France, and Rest of Europe. Country-level analysis and forecast for the Asia Pacific market includes major countries in the region such as India, China, Japan, and Rest of Asia Pacific. Middle East & Africa country-level analysis and forecast for the drive-in movie Theater Market includes GCC countries, South Africa, and Rest of Middle East & Africa. The South America drive-in movie theater market is categorized into Brazil, and Rest of South America.
- Large customer base, rising middle class population, technology advancement, and changing demographics in developing economies are driving the demand for drive-in movie theaters in Asia Pacific. For instance, global movie theater companies such as Carnival, PVR, and INOX are planning to launch drive-in cinemas in key markets in India such as Delhi, Pune, and Bangalore.
Key Players Operating in the Global Market
Key industry players are investing in the new technology and advanced infrastructure. Investment in innovative theater designs, selection of unique locations, and digital transformation are key business strategies adopted in the global drive-in movie theater industry. Partnership and collaboration with established resorts and event companies enables companies to penetrate untapped markets.
Some of the major companies identified in the global drive-in movie theater market are:
- AMC Entertainment Holdings, Inc.
- Cineworld Group Plc
- Cinemark Holdings, Inc.
- Cineplex Inc.
- Vue International
- CGV Cinemas
- Wanda Film Holding Co
- Alamo Drafthouse Cinemas
- The Decurion Corporation
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Global Drive-in Movie Theater Market: Research Scope
Global Drive-in Movie Theater Market, by Screen Size
- Up to 20ft
- Above 50ft
Global Drive-in Movie Theater Market, by Technology
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.