New York, USA, Jan. 24, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global gaming simulator market is expected to garner a revenue of $13,378.2 million by 2026 and grow at a healthy CAGR of 17.2% over the forecast period from 2019-2026. The comprehensive report provides a concise outlook of the gaming simulator market’s present scenario including chief aspects of the market such as growth elements, challenges, hindrances, and several opportunities during the estimated period of 2019-2026. The report also provides all the market figures to help new participants analyze the market easily.
Dynamics of the Gaming Simulator Market:
Drivers: Growing adoption of gaming platforms among youngsters is the main factor expected to drive the growth of the global gaming simulator market by 2026. In addition, factors like enhanced playing experience, improved performances, and an increasing number of virtual training solutions are estimated to further boost the market growth during the forecast period.
Opportunities: Introduction and rising adoption of Free2Play games among enthusiastic gamers is the main factor predicted to offer ample growth opportunities for the global gaming simulator market by 2026. In addition, benefits like social interactions with other gamers and unobstructed play competition are anticipated to further propel the market growth during the analysis timeframe.
Restraints: Exorbitant costs of gaming simulators is the main factor projected to hinder the market growth during the forecast years.
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Segments of the Gaming Simulator Market:
The report has fragmented the gaming simulator market into segments based on component, type, end-use industry, and regional analysis.
Component: Software Sub-segment to be Most Lucrative
By component, the software sub-segment is expected to have a significant growth rate and register a revenue of $7,381.5 million by 2026 due to the attractive interface and intuitiveness offered to the gamers. The software simulator consists of several additional features and is mostly free and open source. These factors are projected to accelerate the demand for software simulators during the analysis years.
Type: Shooting Sub-segment to be Most Dominant
By type, the shooting sub-segment is estimated to witness the highest growth rate and gather a revenue of $4,398.2 million by 2026 due to the rising popularity of FPS (first-person shooter) games. In addition, the availability of exciting shooting games, a great mix of FPS and mech-based combat, along with a variety of maps and multi-stage events are the factors projected to boost the sub-segments growth during the analysis timeframe.
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End-use Industry: Commercial Sub-segment to be Most Beneficial
By end-use industry, the commercial sub-segment of the global gaming simulator market is expected to hold a significant market share and register a revenue of $7,996.6 million by 2026. Growing initiatives of market players on improving interface’s attractiveness, modeling tools, and graphics quality are expected to propel the sub-segments development during the forecast period.
Regional Analysis: Gaming Simulator Market in the Asia-Pacific Region to Witness Better Growth Opportunities
By regional analysis, the market in the Asia-Pacific region valued at $4,044.5 million in 2018 and is anticipated to have the highest growth rate over the forecast period due to the exponential growth rate in the game zones based on VR and simulators systems in countries like China, Japan, India, and South Korea. Furthermore, the rise in smartphone penetration, affordable and advanced new technologies, and growing developer ecosystem are also projected to accelerate the growth of the Asia-Pacific region during the analysis timeframe.
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Prominent Gaming Simulator Market Players:
Some prominent players of the gaming simulator market include
- Hammacher Schlemmer & Company, Inc.
- Villers Enterprises Ltd
- CXC Simulators
- Vesaro
- D-BOX TECHNOLOGIES INC.
- Aeon Sim
- Sony Interactive Entertainment Inc.
- Play seat B.V.
- RSEAT Ltd.
- Eleetus, and many others.
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These players are constantly working to build strategies such as product development, merger, and acquisition, partnerships, and collaborations to assist the market enhancement.
For example, in May 2021, FuturLab announced its release of the new PowerWash simulator for PCs. FuturLab currently wishes to ensure the Steam Early Access version before rolling out the gaming console on other platforms or devices. PowerWash Simulator’s gameplay includes heavy-duty power washing of several dirty objects and structures scattered in the town.
The report also sums up many crucial facets including the financial performance of the key players of the market, SWOT analysis, product portfolio, and the newest strategic developments.
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- Gaming Simulator Market Expected To Grow At A CAGR Of 17.2% By 2026.
