Dublin, Dec. 06, 2024 (GLOBE NEWSWIRE) -- The "Gaming Steering Wheels - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024-2029)" report has been added to ResearchAndMarkets.com's offering.
The Gaming Steering Wheels Market is valued at USD 25.57 billion in 2024 and projected to reach USD 38.80 billion by 2029, growing at a CAGR of 8.70% (2024-2029). Growth is fueled by rising adoption of AR/VR technologies in racing games, expanding gaming culture, and cloud-based gaming trends. However, high costs of steering wheels pose challenges.
Key Highlights from the Report
Market Drivers:
- E-sports growth due to increased digital gaming exposure and disposable incomes.
- Rising demand for desktop games, synchronized mobile and desktop versions, and homegrown games. For instance, China approved 1,076 game titles in 2023, double the prior year.
- AR/VR gaming growth, with 216 million global users projected by 2025.
Regional Insights:
- In Germany, 58% of the population (ages 6-69) play digital games, with older age groups showing high engagement.
- The U.S. gaming industry benefits from rising e-sports participation, increased spending (USD 48 billion in 2023), and new racing games like iRacing Arcade (2025).
Competitive Landscape:
- Logitech G PRO Racing Wheel and Fanatec GT DD Pro lead with advanced features like direct drive motors, realistic force feedback, and tactile analog paddles.
- Innovations include the Asus ROG gaming console (2023) and Turtle Beach’s VelocityOne Race wheel and pedal system (2024).
Partnerships and Acquisitions:
- Corsair is negotiating the acquisition of Fanatec, pending German regulatory approval.
- Immutable partnered with Ubisoft in 2023 to integrate Web3 gaming technologies.
Market Trends:
- Demand for personalized, high-performance racing wheels.
- Integration of sustainable practices and advanced analytics to enhance customer engagement.
Market Outlook
Increased hardware capabilities, such as 4K/8K TVs and next-gen consoles (e.g., Nintendo Switch, Microsoft Xbox, Sony PlayStation), are further boosting demand for steering wheels globally.
Industry Overview
The market is consolidated, with key players like Logitech, Fanatec, and Guillemot Corporation SA focusing on partnerships, acquisitions, and product innovations to expand market share.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Ecosystem Analysis
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rise in Racing Games and E-sports Gaming to Fuel the Demand for Gaming Wheels
5.1.2 Increased participation from Female Gamers
5.2 Market Restrains
5.2.1 Consolidated Market with the Market Currently Dominated by the Top Players
5.3 Pricing Analysis
6 MARKET SEGMENTATION
6.1 By Type
6.1.1 Entry-Level
6.1.2 Advanced Racing Wheels
6.2 By Distribution Channel
6.2.1 Online
6.2.2 Offline
6.3 By Geography
6.3.1 United States
6.3.2 China
6.3.3 United Kingdom
6.3.4 Germany
6.3.5 Rest of the World
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Logitech Europe SA
7.1.2 Guillemot Corporation SA
7.1.3 Endor AG (Fanatec)
7.1.4 GTR Simulator
7.1.5 SimXperience
8 MARKET SHARE ANALYSIS OF KEY VENDORS
9 MARKET OPPORTUNITIES AND FUTURE OUTLOOK
For more information about this report visit https://www.researchandmarkets.com/r/qveo05
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