New York, USA, June 07, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global gaming simulator market is projected to register a revenue of $13,378.2 million at a CAGR of 17.2%, rising from $4,320.0 million in 2019, during the forecast period, 2019-2026. The comprehensive research gives a concise analysis of the current market landscape, including major features such as growth factors, challenges, restraints, and potential opportunities, during the analysis period.
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Market Dynamics
Superior playing experience, improved performance, expanding acceptance of gaming zones, growing number of virtual training solutions, and the advent of gaming as a significant form of entertainment, are the key factors expected to contribute to the growth of the global gaming simulator market in the analysis period. According to a report conducted in 2017 by the UK Interactive Entertainment Association, around 32.4 million individuals in the UK were using gaming as a source of entertainment. Furthermore, 32.0% of players in the UK prefer to play games on mobile phones and consoles, according to the same report.
However, poor market product penetration in emerging nations along with the high cost of gaming simulators is expected to hamper the growth of the gaming simulator market in the analysis period. On the contrary, the growing popularity of free-to-play games is expected to open up new opportunities in the global gaming simulator market.
Segments of the Market
The report has divided the market into different segments based on component, type, end use industry, and regional analysis.
Type: Shooting Sub-segment is Expected to be Most Lucrative
The shooting sub-segment is predicted to experience the highest growth in the global market and it is anticipated to cross $4,398.2 million during the analysis period. One of the primary elements driving the expansion of the shooting section is the increasing popularity of FPS (first-person shooter) games.
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Component: Software Sub-segment is Predicted to be Most Profitable
The global software sub-segment is predicted to increase significantly in the global market, reaching $7,381.5 million by 2026, from $1,944.0 million in 2018. This growth can be majorly attributed to appealing interface and intuitiveness of software.
End Use Industry: Commercial Sub-segment is Expected to be Most Lucrative
The commercial sub-segment of the gaming simulator market is estimated to garner a large market share in the global industry, with revenue of $7,996.6 million by 2026. Market participants are focused on interface attractiveness as well as enhancing modeling tools and graphic quality, this is anticipated to drive the growth of the market.
Region: Asia-Pacific is Expected to Dominate the Market
The Asia-Pacific gaming simulator market accounted for the highest growth and it was valued at $4,044.5 million in 2018. Moreover, it is predicted to grow at a healthy CAGR, over the analysis period. One of the main drivers for the global gaming market’s growth is the rapid expansion of game zones based on simulators and VR (virtual reality), notably in Asian nations such as South Korea, Japan, China, and India.
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Key Market Players and Strategies
The most prominent market players of the global gaming simulator market include
- RSEAT Ltd.
- CXC Simulators
- Vesaro
- D-BOX TECHNOLOGIES INC.
- Aeon Sim
- Villers Enterprises Ltd
- Sony Interactive Entertainment Inc.
- Eleetus.
- Play seat B.V.
- Hammacher Schlemmer & Company, Inc.
These players are working on developing strategies such as product development, merger and acquisition, collaborations and partnerships to sustain the market growth.
For instance, in June 2020, CXC Simulations, a key competitor in the gaming simulator industry, announced that it has been titled as a winner in Robb Report’s annual Best of the Best Issue. The magazine’s choice for the Driving Simulator in the Best in Tech and Gear category was CXC Simulations’ freshly finished Formula 1 simulator.
The report also summarizes many important points including product portfolio, financial position of the market players, latest strategic developments, and SWOT analysis.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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