Albany, NY -- (SBWIRE) -- 05/30/2019 -- According to a new market report published by Transparency Market Research the global edutainment market is estimated to reach US$ 10,120.2 Mn by the end of the forecast period 2027. According to the report, North America was the largest contributor in terms of revenue to the edutainment market in 2017. This is primarily due to strong technological advancement and considerable application of edutainment in banks and financial institutions across the region.

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Changing industry trends and introduction of advanced technologies are playing a major role in the education field. Edutainment centers such as botanical gardens, science exhibitions, zoos, children's museums, and aquariums offer educational aspects besides offering entertainment and amusement. The new edutainment centers incorporate entertainment and learning. The market for edutainment is forecasted to reach US$ 10,120.2 Mn by 2027.

The major factor responsible forthe growth of the edutainment market is knowledge development through the content of the games. The edutainment market has experienced considerable growth due to increasing investments by established players for edutainment centers.

Further, introduction of advanced technology such as implementation of Augmented and Virtual Reality technology in the education field plays an important role in the growth of the market. Virtual Reality (VR) and Augmented Reality (AR) games are trending in the field of education. Further, some gaming manufacturers are focusing on developing technologies to improve gaming experiences at edutainment centers by integrating AR and VR technologies with 3-D projection mapping and interactive digital surfaces to generate new technologically advanced games.

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With the increasing usage of social media, video streaming and mobile apps are expected to support the growth of the market during the forecast period. Further, edutainment centers are partnering with technology providers to provide advanced solution platforms.

Edutainment centers are implementing advance technology such as artificial intelligence, augmented reality, mixed reality, and Internet of Things (IoT). The global spending on entertainment centers is increasing significantly every year. Increase in the global GDP is subsequently boosting the spending on entertainment and leisure activities. The family/indoor entertainment centers market is also witnessing significant growth due to an increase in the global spending on theme parks.