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Gaming Simulators Market witnessed USD 5.3 billion in 2021, growing at a CAGR of 13.5% and the market was estimated USD 14.6 billion in 2029 | Size & Industry Report

11-24-2022 02:49 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: GMI Research

Gaming Simulators Market

Gaming Simulators Market

Gaming Simulators Market generated a revenue of USD 5.3 billion in 2021 and is forecast to grow at a CAGR of 13.5% over the period 2022-2029, reaching USD 14.6 billion in 2029.

For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/gaming-simulators-market/

The factors driving the growth of Gaming Simulators Market includes growing demand for immersive and realistic games, increasing popularity of e-sports tournaments around the world, commercialization of 5G technology, rising acceptance for 360 cameras for taking 360 VR photos and improvements in the living standards. Moreover, growing adoption of advanced technologies such as Virtual Reality (VR) and Augmented Reality (AR), rise in the launch of innovative products, increasing number of players in online games and rapid urbanization, are some of the additional factors supplementing the Gaming Simulators Market size. In addition, the increasing investments by major companies on research and development, strategic mergers and acquisitions between key players, rising disposable incomes growing population growth rates, are further contributing towards the market growth.

However, growth of the Gaming Simulators Market is hindered attributed to high costs of Virtual Reality headsets.

The leading players operating in the Gaming Simulators Market are Playseat, Aeon Sim, Vesaro, CXC Simulations, D-BOX, Eleetus, LCC, RSEAR Ltd. and Hammacher Schlemmer & Company, Inc., among others.

Based on Component, the Software segment is predicted to expand at a significant CAGR during the forecast period

Growing demand for software for modeling of real phenomenon using mathematical formulas and increasing use of simulation software for designing equipment, are some of the factors responsible for the segment's growth.

Based on Game Type, thew Racing segment is projected to grow at a robust CAGR over the forecast period

Virtual training solutions helps in enhancing the driving skills and gaming simulators helps in understanding car handling, are propelling growth of the segment.

Based on Region, the Asia-Pacific region is anticipated to expand at a remarkable CAGR during the forecast period

Rising penetration of smartphone across India, China, and Indonesia, growing adoption of advanced technologies by manufacturers, rapid urbanization, increasing per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.

Market Segmentation

Segmentation by Component

Hardware
Software
Services

Segmentation by Game Type

Shooting
Fighting
Racing
Others

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe - +353 1 442 8820; US - +1 860 881 2270
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Website: https://www.gmiresearch.com/

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GMI Research's leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our clients business problems and add significant value to long lasting relationship.

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