III. Industry Analysis
[Company Name] competes against small and individually owned escape rooms. According to market research, the Global Escape Room Market has been growing at a fast pace with explosive growth rates over the last few years, and it is estimated that the market will continue to grow significantly over the next five years.
Furthermore, a rise in disposable income has resulted in an upswing in demand for adventure experiences, such as Escape Rooms. Given the industry’s growing popularity, innovation is expected to enhance product development through things like VR integration, and mobile escape rooms.
The market size has increased at an explosive rate of 103.0% per year over the last five years, and as a result, the Escape Rooms industry in the US is projected to be worth $504 million.