The 2018 global gaming simulation market was valued at USD 4.92 billion. By 2028, it is expected to reach USD 20.81 billion. This projection will grow at a CAGR (15.1%) from 2019 to 2028.
Gaming simulation is a tool that simulates real-world situations. It includes input variables, performance measurements, system entities, and functional relationships that enhance games’ sensations and provide the best moving experience. Many companies are also using gaming simulations to cut down on the costs of training employees. This, in turn, fuels market growth.
Growing Demand:
Gaming simulators are highly demanding as gamers prefer realistic and immersive games. Gaming simulators can meet these changing gaming preferences. New platforms are being created to offer new and innovative games. Industry players are developing advanced gaming simulators. Next Level Racing’s F-GT Lite portable racing simulator was launched in March 2018. It offers a real-life Formula and GT racing experience.
An increasing number of gaming areas offer better gaming experiences with gaming simulators. E-sports championships in various parts of the globe are also drawing gamers. Market players are responding to the situation with innovative gaming simulators that can be used in gaming zones or e-sports championships. Next Level Racing, for example, provided 20 units GTultimate cockpits in September 2018 to host the Toyota Velocity Esports Championship held in Malaysia. Demand for gaming simulators is also driven by the continuous rollout of high-speed internet networks and the growing popularity of network sharing.
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The report analyzes global gaming simulation market trends and growth prospects. Porter’s five force analysis is used in the study to determine the impact of many factors such as the bargaining strength of suppliers, competition intensity of competitors, threat of new entrants, and bargaining power for buyers on global gaming simulation market share.
Driving Factors:
Gaming simulators have experienced a significant increase in popularity due to improved playing experience, performance improvements, growing adoption of gaming zones, and the rise of gaming as a popular entertainment medium. Several virtual training options are increasing in demand. According to the UK Interactive Entertainment Association’s 2018 study, 31.9 million people in the UK use gaming for entertainment. According to the same study, 31.9% prefer to play games on consoles and mobiles in the UK.
Restraining Factors:
Some reports that hackers might use the famous VR headsets for virtual reality with built-in motion sensors. This is done to disguise speech-related facial dynamics to obtain sensitive data via voice commands. These activities have privacy and security issues that hamper the market’s growth. Another factor limiting market growth is the high cost of VR headsets.
The high cost of gaming simulators and poor market product penetration in emerging markets will likely restrict market growth throughout the projection period.
Market Key Trends:
This report has examined the critical factors that have influenced the growth and future prospects of the Gaming Simulators Market. This report discusses the driving and restraining factors that slow down Gaming Simulators’ growth. We also discuss their implications for global Gaming Simulators markets. The published analysis also discusses the market’s trends and how they impact its growth. Other qualitative variables, such as risks related to operations and key problems facing market players, are also covered in the report.
Recent development:
- CXC Simulations released a new Motion Pro II simulator in March 2022. It uses a brand new simulator and movement to operate the machine. This makes it one of the most desired simulation machines in the world.
- D-BOX teamed up with RazerTM in January 2022 to create the RazerTM gaming chair. It incorporates D-high-fidelity BOX haptic technology. Las Vegas’ prototype uses signals from video games and a wide range of integrated entertainment channels to give the best touch-sensory stimulation.
Key Market Players included in the report:
- Sony Computer Entertainment
- SimXperience
- CXC Simulations
- D-BOX Technologies
- Eleetus
- Vesaro
- Aeon Sim
- Hammacher Schlemmer
- Hexatech Hexathrill
- Norman Design
Key Market Segments:
Type
- Racing Simulation
- Shooting Simulation
- flight simulation
- Other
Application
- Commercial
- Residential
Key questions:
- How has the global gaming simulators market performed so far, and how will it perform over the next few years?
- How has COVID-19 impacted the global gaming simulator market?
- Which are the most important regional markets?
- What are the major driving factors and challenges facing the industry?
- What is the current structure of the global gaming simulator market? And who are the major players?
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