New York, USA, Jan. 25, 2022 (GLOBE NEWSWIRE) -- A research report published by Research dive on the global gaming simulator market explains the impact of COVID-19 pandemic on the present outlook and the future of the market. Comprehensive analysis on drivers, challenges, restraints, growth opportunities, COVID-19 impact, key market segments, and competitive landscape are provided in the report.
Highlights of the Gaming Simulator Market Report
The outbreak of the COVID-19 has had favorable impact on the global gaming simulator market. According to the report, the global gaming simulator market gathered $4,320.0 million in 2018, and is projected to garner $20,433.9 million by 2026, and exhibit a CAGR of 22.1% during the forecast period from 2019 to 2026. The anticipated market size in 2020 was $5,933.9 million before the outbreak of COVID-19. But, due to the COVID-19 chaos, the market size increased to $6,197.2 million due to the increasing interest of people in virtual gaming during the quarantine period.
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Factors Influencing the Gaming Simulator Market Growth during Coronavirus Pandemic
As per the analysts of Research Dive, the growing popularity and interest among people worldwide in virtual gaming during the pandemic period has positively impacted the gaming simulator market growth. For instance, according to Verizon, about 115% of the surge has been observed in gaming in the U.S. alone during the pandemic crisis.
Additionally, many market players of the global gaming industry are emphasizing on game launching, technological advancements, and others, which is driving the market growth. For instance, in April 2020 Winchester School of Art (WSA) announced the official launch of its final year virtual Arcade in the coronavirus pandemic situation.
Future Scope of the Gaming Simulator Market
The global gaming simulator market is expected to continue to observe striking growth even after the pandemic over the forecast period, majorly due to the rising number of strategic acquisitions and tie-ups, high expenditure on R&D, and innovations by key market players. In addition, the growing adoption of the smartphones, growing popularity of video games, and increasing disposable income are the key factors for the exponential growth of the gaming simulator market after the pandemic crisis. Moreover, governmental bodies around the world are greatly supporting the industry players, which is anticipated to create huge growth opportunities for the global market by 2026.
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Major Gaming Simulator Market Players
The key players operating in the global include
- D-BOX TECHNOLOGIES INC.
- Eleetus
- CXC Simulators
- Villers Enterprises Ltd
- Playseat B.V.
- Vesaro
- Hammacher Schlemmer & Company, Inc.
- Sony Interactive Entertainment Inc.
- AeonSim
- RSEAT Ltd.
These players are implementing various strategies such as strategic partnerships, technological advancements, product launches, and others to gain a competitive edge in the global industry. - Inquire to Get access for Detailed Top Companies Development Strategy Report
For instance, in August 2020, Microsoft, the leading technology corporation which produces consumer electronics, computer software, personal computers, and related services, announced the launch of the newest version of its iconic video game ‘Flight Simulator’ after nearly 14 years, which include features like live traffic and weather.
Related Article Links:
- What are Simulation Games? Can These Games Run on Android Devices?
- WHO Encourages Gaming, During The COVID-19 Pandemic, To Promote The Development Of Global Gaming Simulator Market
