What Fueled The Previous Growth In The Racing Simulator Market?
The racing simulator market has seen considerable growth due to a variety of factors.
• The racing simulator market has seen strong growth in recent years. It will grow from $0.87 billion in 2024 to $0.94 billion in 2025, at a compound annual growth rate (CAGR) of 8.1%.
The growth in the market is due to the evolution of racing hardware, increased popularity of gaming consoles, influence of professional racing drivers, integration of real-world racing tracks, and the rise in esports.
What Is The Expected Growth In The Racing Simulator Market Size Evolve over the Forecast Period?
The racing simulator market is expected to maintain its strong growth trajectory in upcoming years.
• The racing simulator market is forecast to grow to $1.26 billion by 2029, at a CAGR of 7.7%.
Growth drivers include the rise of subscription-based services, improvements in virtual reality (VR) technology, demand for realistic racing experiences, integration with cloud gaming, and eco-friendly gaming solutions. Key trends will be advancements in computing technology, motion simulation, and force feedback technology.
What Main Forces Are Fueling Expansion In The Racing Simulator Market?
The escalating interest in esports is anticipated to fuel the expansion of the racing simulator market in the future. Esports is the term used for electronic sports which involve competitive video gaming events that include individual professional gamers or teams competing, often live-streamed for worldwide viewers. The growing popularity of esports is attributed to enhanced accessibility and viewership propelled by digital platforms and global connectivity. In the esports realm, racing simulators replicate real driving conditions, enabling gamers to participate in virtual motorsport events, complete with accurate physics and intricate tracks. This linking of actual and virtual racing intensifies player abilities and involvement. For example, the International Trade Administration, a US governmental body, stated that the esports industry saw substantial expansion in November 2022. They projected that Japan's esports market would reach 9.9 billion yen (US$71 million) in 2022 and surpass 18 billion yen (US$129 million) by 2025. As a result of these factors, the growing interest in esports is steering the advancement of the racing simulator market.
What Are The Primary Segments In The Global Racing Simulator Market?
The racing simulator market covered in this report is segmented –
1) By Offering: Hardware, Software
2) By Component: Cockpits, Steering Wheel, Monitor Stand, Seats, Pedal Sets, Gearbox Shifters, Other Components
3) By Simulator Type: Full-Scale Simulator, Medium-Level Simulator, Entry-Level Simulator
4) By Vehicle Type: Passenger Car, Commercial Vehicle
5) By Sales Channel: Online, Offline
Subsegments:
1) By Hardware: Racing Wheels, Pedals, Cockpit Seats, Gear Shifters, Virtual Reality (VR) Headsets
2) By Software: Simulation Software, Game Titles, Driver Training Programs, Racing Leagues Or Events Platforms
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What Trends Are Shaping The Racing Simulator Market?
Renowned firms within the racing simulator industry are primarily focused on innovative product development like universal wheel and pedal systems to gain a competitive edge. These advanced systems are universal gaming controller setups, designed to be compatible with a variety of gaming consoles and PC platforms to provide a realistic racing experience. It boosts accessibility and immersion for gamers in the racing simulator market by allowing the use of a single system across numerous devices, thus increasing engagement and expanding the market's appeal. For instance, in January 2024, US-based Turtle Beach Corporation, a manufacturer of premium gaming accessories, unveiled its latest offering, the VelocityOne Race. Designed for racing simulation enthusiasts, the VelocityOne Race is a universal wheel and pedal system for Xbox and Windows PCs and boasts direct-drive technology, superior components and a plethora of customizable options.
Who Are the Key Players In The Racing Simulator Market?
Major companies operating in the racing simulator market are:
• Logitech G
• Endor AG
• Thrustmaster
• OMP Racing
• SIMUCUBE
• Fanatec
• Playseat
• Next Level Racing
• Trak Racer AU
• NRG Innovations
• ImSim
• Extreme Simracing
• ButtKicker
• Clark Synthesis
• Arozzi
• Vesaro
• CXC Simulations
• Max Papis Innovations
• Ricmotech LLC.
• Pro-Sim
• SIMAGIC
• Renovatio Development
• MOZA Sim Racing
• MOMO Motorsport
What Is The Most Dominant Region In The Racing Simulator Market?
North America was the largest region in the racing simulator market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the racing simulator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
