The Future Of The Theme Park Industry, How Advanced Technologies Can Revolutionize The Theme Park Industry, And The Benefits Of Companies Leveraging Robots In The Theme Park Industry

This essay sheds light on the future of the theme park industry, explicates how advanced technologies can revolutionize the theme park industry, and demystifies the benefits of companies leveraging robots in the theme park industry. The future of the theme park industry will not only be characterized by dynamism as it continues to metaphorically evolve, but will also be eminently auspicious for competitors in the theme park industry. Technological advancements are profoundly changing the theme park industry and are rendering it all the more of a technology-driven industry. The behemoth theme park industry shows no signs of contracting anytime in the imminent future. Theme parks are also known as “a type of amusement park”. The rides and attractions of theme parks are often based on “a central theme”. Theme parks often feature a multitude of “areas with disparate themes”. Competitors in the theme park industry are aptly poised to have lucrative and auspicious futures as more tourist visit theme parks and as the popular franchise-based attractions of theme parks garner more interest worldwide among customers. “The global amusement parks market size was valued at $45,200,000,000 in 2017” (“Amusement Parks Market,” 2018). “Amusement Parks market size is set to grow at a compound annual growth of 6.2% during 2020-2025, projected to reach $72,440,000,000 by 2025” (“Amusement Parks Market,” n.d.). There are a multitude of reasons as to why the theme park industry is projected to expand in the pending future. “Innovative rides, accommodation facilities, and merchandise in amusement parks are gaining popularity among visitors of all age groups. As a result, there is a rise in the number of adults and children visiting amusement parks, thus expanding the size of the target audience. Sale of merchandise and food and beverages through retail outlets and restaurants located inside the amusement parks are anticipated to be the key sources of ancillary revenue for amusement parks. Additionally, increasing urban population, international tourism, and rising disposable income of middle-class population are providing an upthrust to the amusement park market worldwide” (“Amusement Parks Market,” 2018). There are ample factors that are able to accelerate the growth of the behemoth theme park industry. The rapid growth of the global population can also contribute to the robust growth of the theme park industry. Theme parks are replete with franchise-based attractions.