Day: September 12, 2024

Key Takeaways

• Nvidia shares surged Wednesday after CEO Jensen Huang said the chipmaker is seeing “incredible” demand.

• “Everything is sold out,” Huang said, as customers clamor for Nvidia’s products to support artificial intelligence.

• The CEO also touted the return on Nvidia products for customers, saying every dollar a cloud company might spend on Nvidia infrastructure translates to $5 in rentals for the company.

Nvidia Corporation (NVDA) shares surged 8% Wednesday after CEO Jensen Huang said the chipmaker is seeing “incredible” demand.

Huang said at Goldman Sachs’ Communacopia + Technology Conference that “everything is sold out,” as customers clamor for Nvidia infrastructure to support artificial intelligence (AI).

“Our company works with every AI company in the world today,” Huang said, according to a transcript provided by AlphaSense. “Everybody’s counting on us.”

Nvidia’s chips are used by several major cloud providers, including Microsoft (MSFT) and Amazon (AMZN). Both companies have told investors they expect to boost spending on AI infrastructure.

Huang touted the return on Nvidia’s products for customers as well, saying every dollar a cloud company might spend on Nvidia infrastructure translates to $5 in rentals for the company.

Nvidia GPS on Display at Oracle CloudWorld

Nvidia GPUs were also on display at Oracle’s (ORCL) CloudWorld conference Wednesday. The company unveiled an Oracle Cloud Infrastructure (OCI) Supercluster supported by Nvidia’s Blackwell platform equipped with more than 100,000 GPUs to train and deploy AI models. The OCI Superclusters are expected to be available in the first half of 2025.

Oracle and Nvidia partnered at the conference to showcase how Nvidia’s platform can accelerate AI and data processing for enterprise customers.

Shares of Nvidia closed 8% higher at $116.91 Wednesday, partially reversing recent losses following a sales forecast that came up short of lofty expectations.

Read the original article on Investopedia.

NEWARK, Del, Sept. 11, 2024 (GLOBE NEWSWIRE) — The global theme park market is set to witness significant growth, with revenues projected to soar from USD 71.4 billion in 2024 to an impressive USD 119.0 billion by 2034, achieving a compound annual growth rate (CAGR) of 5.2% over the next decade.

As tourism continues to evolve, the theme park industry is emerging as a focal point in the conversations about fun, experience, and leisure. Whether it’s the adrenaline-pumping rides, serene nature-inspired environments, up-close animal encounters, or thrilling water adventures, theme parks offer a blend of excitement and escapism that resonates with people across all age groups. In today’s fast-paced world, these attractions provide a perfect balance between fun and relaxation, catering to diverse preferences.

The rise of theme parks highlights a dynamic shift toward a customer-centric model that prioritizes experiences over material authenticity. Unlike traditional tourism, where the focus was often on historical landmarks or physical objects, modern theme parks emphasize immersive, interactive experiences that foster connection and joy.

With this evolving trend, theme parks are set to redefine the future of leisure and entertainment, offering an antidote to the stresses of modern life. The market’s promising growth trajectory underscores its importance as a key driver in the global tourism and recreation industry.

As the theme park market gears up for a remarkable decade of expansion, industry leaders are expected to innovate continuously, delivering enhanced experiences that will captivate the hearts of millions worldwide.

Market CAGR Value of Theme Park by Country:

Surge in Market Demand: Explore Comprehensive Trends and Analysis in Our Full Report!

“Theme parks have become much more than just destinations; they represent a dynamic fusion of thrill, relaxation, and discovery,” says Nandini Roy Choudhury, Client Partner at Future Market Insights. “In an era where consumers seek meaningful and engaging experiences, theme parks have successfully carved out a niche that delivers both joy and escapism, ensuring their enduring appeal.”

Prominent Drivers of the Theme Park Market:

The theme park market is driven by several prominent factors that fuel its growth and development. Key drivers include:

1. Rising Disposable Income and Consumer Spending: As global incomes rise, especially in emerging markets, more people have the financial means to visit theme parks, contributing to increased attendance and higher spending within parks.
2. Tourism Growth: Theme parks are often major tourist attractions. The growth of international and domestic tourism directly supports the expansion of the theme park market.
3. Increased Demand for Family Entertainment: With a focus on multi-generational family activities, theme parks provide an ideal destination for family entertainment, leading to higher visitor numbers and diversified offerings.
4. Technological Innovations: The use of immersive technologies such as virtual reality (VR), augmented reality (AR), and advanced ride systems enhances the visitor experience, driving repeat visits and customer satisfaction.
5. Strategic Collaborations and Licensing Agreements: Partnerships between theme parks and entertainment companies (e.g., Disney, Universal) for exclusive rights to popular franchises (movies, TV shows, video games) attract fans and expand the audience base.
6. Urbanization and Infrastructure Development: Expanding urban areas and improved transport networks make theme parks more accessible, leading to higher foot traffic.
7. Diversification of Offerings: Parks are offering year-round attractions, themed accommodations, shopping experiences, and dining options to enhance guest satisfaction and extend the time spent at the park.

Challenges Faced by the Theme Park Market:

The theme park market faces several challenges, which impact both operational and financial aspects. Here are some of the key challenges:

1. High Operating Costs: Maintenance, staffing, and energy consumption contribute to significant expenses. Keeping attractions safe and functional requires constant investment.
2. Seasonality and Weather Dependency: Theme parks typically see fluctuating attendance based on seasons and weather. Bad weather can drastically reduce visitor numbers, affecting revenue.
3. Rising Competition: The rise of virtual entertainment options, such as VR and online gaming, presents new competition, particularly for younger audiences.
4. Economic Downturns: During economic recessions, theme park attendance drops as families cut down on non-essential leisure activities.
5. Safety and Security Concerns: Managing large crowds while ensuring safety is a logistical challenge, particularly after incidents like accidents or health crises (e.g., COVID-19).
6. Sustainability Pressures: There is growing pressure to adopt sustainable practices, from reducing water and energy consumption to minimizing waste.
7. Technological Advancements: Keeping up with technological trends, such as virtual queues and digital enhancements, requires continual investment.

Key Companies in the Market:

• Cedar Fair Entertainment Company
• Comcast Corporation
• Fantawild
• Hershey Entertainment and Resorts Company

Regional Analysis Theme Park Market:

The theme park market shows varied growth trends across different regions:

1. North America: Dominates the global theme park market due to well-established parks like Disney and Universal Studios, with strong visitor numbers and high per capita spending.
2. Europe: Home to major parks like Disneyland Paris, the market is stable but faces growth challenges due to economic factors and seasonal tourism.
3. Asia-Pacific: Fastest-growing region, led by China and Japan. Rising disposable incomes, urbanization, and investments in new parks are driving expansion.
4. Middle East & Africa: Emerging market with growing interest, driven by tourism initiatives, especially in the UAE with attractions like Dubai Parks and Resorts.
5. Latin America: Moderate growth with potential in countries like Brazil and Mexico, but hindered by economic instability.

Market Segmentation:

By Type:

• Theme Parks
• Water Parks
• Adventure Parks
• Zoo Parks

By Ride:

• Mechanical Rides
• Water Rides
• Others

By Age-Group:

• Up to 18 years
• 19 to 35 years
• 36 to 50 years
• 51 to 65 years
• Above 65 years

By Revenue Source:

• Tickets
• Food & Beverage
• Merchandise
• Hotel & Resorts
• Others

By Region:

• North America
• Latin America
• Asia Pacific
• Middle East and Africa (MEA)
• Europe

Authored by:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

Explore FMI’s related ongoing Coverage on Travel and Tourism Market Insights Domain:

The global tourism market size is expected to develop at a CAGR of 5% over the next ten years. By the end of this forecast year in 2032, analysts anticipate the tourism market size would be worth USD 17.1 Trillion.

The spanish sports tourism market share is estimated to reach USD 18,135.6 million in 2024. As per the analysis, sales are forecast to increase at a robust 13.5% CAGR during the forecast period from 2024 to 2034 and it is projected to reach USD 64,341.3 million by the end of 2034.

The South Africa faith-based tourism market demand is estimated to reach ~USD 86.5 million in the year 2024. The market is forecast to reach a valuation of ~USD 193.8 million by the year 2034 with a CAGR of ~8.4% from the years 2024 to 2034.

The Germany culinary tourism market growth is estimated to reach ~USD 6,062.3 million in the year 2024. It is forecast to reach a valuation of ~USD 19,511.9 million by the year 2034 with a CAGR of 12.4% from the years 2024 to 2034.

The India sustainable tourism market forecast is estimated to reach ~USD 37.1 million in the year 2024 and is further forecasted to reach a valuation of ~USD 216.7 million in the year 2034 with a market CAGR of 19.3% between the years 2024 and 2034.

The Japan sports tourism market outlook registered a market value of USD 9,577.8 million in 2023 and is expected to grow at a steady CAGR of 8.5% during the forecast period from 2024 to 2034. The target market is anticipated to be valued at USD 23,561.0 million by 2034.

As per newly released data, the Japan faith-based tourism market overview is estimated at ~USD 548.3 million in 2024. The market is projected to grow at a significant CAGR of ~10.3% during the forecast period from 2024 to 2034 and reach a market valuation of ~USD 1,461.4 million by 2034 end.

The global tech savvy hotel chains market opportunity is estimated at ~USD 70,898.5 million in the year 2024 and is anticipated to reach an industry valuation of ~USD 294,394.8 million in the year 2034 with a market CAGR of 15.3% between the years 2024 and 2034.

The global ecotourism market development has been estimated at USD 2,51,188.1 million in the year 2024 and is expected to reach an industry valuation of USD 9,79,128.7 million in the year 2034 with a market CAGR of 14.6% between the years 2024 and 2034. 

The yoga and meditation market trends is expected to progress strongly, with an estimated CAGR of 13.5% over the forecast period. As of 2024, it is valued at USD 6,942.8 million and is anticipated to go beyond USD 24,631.6 million by 2034, reflecting a 3.5X increase in its value.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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