global Gaming Simulator market size is expected to be worth around US$ 9.101 billion by 2028, according to a new report by Vision Research Reports.
The global Gaming Simulator market size was valued at US$ 4.08 billion in 2020 and is anticipated to grow at a CAGR of 12.2% during forecast period 2021 to 2028.
The increasing popularity of gaming coupled with the continued introduction of innovative VR headsets that can potentially enhance the graphics experience is expected to drive the growth of the market over the forecast period. The growing preference for realistic gaming experience among gamers also bodes well for the growth of the market.
Several gaming zones are putting a strong emphasis on offering a better gaming experience through gaming simulators. For instance, NASSAA Uth HUB, an entertainment hub in India, is offering an enhanced gaming experience through various simulators, including a cricket simulator, flight simulator, and car simulator. The growing demand for gaming simulators for playing different types of games, such as racing, cricket, and golf, is expected to drive the growth of the market over the forecast period.
Manufacturers are also focusing on developing advanced gaming simulators that can enhance the gaming experience for gamers. For instance, in May 2019, RS Simulation launched Sector One, a high-end racing simulator, in collaboration with D-BOX TECHNOLOGIES INC. The simulator is designed to meet the standards of savvy motorsports participants and professional race drivers.
The hardware segment dominated the market in 2020 with a revenue share of over 55%. Hardware components play a vital role in improving the gaming experience. The growing popularity of virtual reality headsets, which help in improving the gaming experience, is expected to encourage market players to develop advanced gaming simulator hardware. Based on components, the market has been segmented into hardware and software.
Gaming simulator hardware manufacturers are investing aggressively in advertising and marketing to promote their gaming simulators and components. These marketing campaigns, which allow the companies to create awareness about hardware components among users, are expected to contribute to the growth of the hardware segment over the forecast period. Market players are particularly focusing on developing advanced and cost-effective hardware components that can help in improving the gaming experience. For instance, in January 2020, Logitech launched Logitech G29, a racing wheel accessory that can enhance the racing game experience.
The racing segment dominated the market with a share of over 55% in 2020. Rising adoption of virtual training solutions for racing drivers to improve their driving skills is anticipated to drive the demand for racing simulators over the forecast period. Advances in visualization through multi-screen displays and VR-enabled displays would also play a decisive role in driving the demand for racing simulators. Based on game type, the market has been further segmented into shooting, fighting, racing, and others.
The growing demand for lightweight and compact racing simulators and initiatives being pursued by manufacturers to respond favorably to the changing gamers’ preferences particularly bodes well for the growth of the racing segment over the forecast period. For instance, in January 2019, Arozzi North America launched a race driving simulator called Velocità Racing Simulator at the Consumer Electronics Show (CES) 2019. Velocità Racing Simulator is a compact and lightweight simulator featuring a steering wheel, gear shift, and pedals. It is compatible with any gaming chair.
The residential segment dominated the market with a share of over 59% in 2020, as the popularity of gaming among individuals continued to increase. The growing demand for advanced gaming simulators for a better gaming experience is expected to drive the growth of the residential segment over the forecast period. The introduction of features such, as gesture-based gaming, and high-quality graphics to enhance the gaming experience are also expected to contribute to the growth of the residential segment. Based on end-use, the market has been further segmented into commercial and residential.
The commercial segment is anticipated to witness significant growth over the forecast period. While gaming hubs would play a crucial role in driving the demand for gaming simulators, the gaming championships being organized in various parts of the world are also expected to trigger the demand for gaming simulators and contribute to the growth of the commercial segment. Various sports event organizations are partnering with manufacturers of gaming simulators to offer immersive virtual practicing and playing experience to the gamers.
North America dominated the gaming simulators market in 2019 with a share of over 35%. North America is home to some of the major market players, such as D-BOX TECHNOLOGIES INC.; CXC Simulations; and Razer Inc.; among others. The introduction of racing platforms at various theaters in North America to support motorsports and e-sports is also anticipated to drive the demand for gaming simulators in the region. For instance, in April 2018, VRX partnered with NAGRA to develop the SIM racing program in theaters using the myCinema platform.
The increasing number of e-sport tournaments organized in North America is anticipated to drive the demand for gaming simulators in the region. For instance, in June 2019, VRX installed racing simulators at an e-sports hub called ESPORTS CENTRAL in Montreal, Canada. The growing popularity of online games and the availability of custom-made gaming simulators is further expected to propel the growth of the regional market.
CKAS Mechatronics Pty Ltd.
D-BOX TECHNOLOGIES INC.
Hammacher Schlemmer & Company, Inc.
Play seat B.V.
Game Type Outlook
The Middle East & Africa (MEA)
The Gaming Simulator market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Gaming Simulator market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Gaming Simulator market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Gaming Simulator market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Gaming Simulator market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Gaming Simulator capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Gaming Simulator by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Gaming Simulator market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Gaming Simulator market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Gaming Simulator market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Gaming Simulator industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Gaming Simulator market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Gaming Simulator market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Gaming Simulator market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Gaming Simulator market. These factors have benefited the growth of the global market for Gaming Simulator. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Gaming Simulator. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Gaming Simulator are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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