Racing Simulator Market Size, Share, Trends and Forecast Report 2030

The racing simulator market is projected to grow from USD 0.5 billion in 2024 to USD 1.1 billion by 2030 at a CAGR of 15.6% during the forecast period. The growth of the racing simulator market is mainly driven by the rising e-sports tournaments and leagues, inclination towards professional motor racing events, constant advancement in simulation technology, rising affordability, and easy accessibility. Further, the inclusion of virtual reality & AI technology in racing simulators and a growing focus on professional training and recreational gaming would prompt the development of the racing simulator market globally.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=247895850

The Growing Number of eSport competitions with significant prize money.

The increasing popularity of esports in recent years offers gamers a platform for participating in virtual tournaments. There has been an increased demand for racing simulators in such virtual events, as these systems provide an immersive gaming experience aligned with the surge in esports engagement. Unlike real-world counterparts, the esports racing simulator offers a more accessible and affordable path to competition. Instead of spending millions on buying actual race cars and providing sponsorship for race events, racing enthusiasts other than professional drivers prefer virtual racing using decent gaming PCs and racing simulator setups. Enhanced internet speeds contribute to developing rich and profound experiences, incorporating features such as high-resolution graphics, intricate track simulations, and seamless integration with virtual reality technology. Prominent esports competitions such as the Formula One Esports Series and Le Mans Virtual Series have emerged as prestigious events that allow participants to highlight their skill and commitment in sim racing. The growing number of virtual racing events with good prize pools attract sim racing enthusiasts towards virtual sim racing, driving the demand for racing simulators. For instance, Porsche TAG Heuer Esports Supercup organizes the Esports racing events with a prize pool of around USD 200,000.

Similarly, the Formula One Sim Racing World Championship organized the virtual sim racing event with a prize pool of USD 750,000. Hence, the rising prevalence of e-sport events will inspire users from different age groups to participate in and win such tournaments. This will subsequently boost the demand for racing simulators to a global level.

Integration of artificial intelligence (AI), virtual reality, and next-generation motion platforms.

Racing simulators have attained greater realism through technological advancements such as Virtual Reality (VR), sophisticated motion platforms, and the integration of artificial intelligence. VR is witnessing a surge across the sports and gaming industries. Notably, first-person racing simulation games have extensively embraced VR technology, elevating the experience through head-mounted displays (HMDs). Rapid progress in VR HMDs has led to the widespread availability of commercial models tailored for gaming, now accessible at reasonable prices. Products like Oculus Rift and HTC Vive are priced at around USD 800, enhancing VR's accessibility for racing enthusiasts.

Moreover, certain VR headsets are integrating "Feedback technology," enabling racers to sense the engine vibrations, road bumps, and even the G-forces during cornering, thus adding another dimension of realism and depth to the experience. Similarly, advanced VR headsets with full-body tracking allow racers to replicate real-world movements such as steering, braking, and accelerating with their arms and legs in the virtual environment, resulting in a more immersive and physically engaging experience.

In addition, various racing simulator manufacturers are directing their efforts towards advancing motion platforms, such as 5 degrees of freedom (DOF) and 6 DOF, which rely on haptic technology to provide sim racers with a lifelike experience. These platforms simulate the physical sensations of acceleration, deceleration, and lateral forces encountered by drivers in real vehicles. The upcoming generation of motion platforms promises to elevate immersion levels, incorporating features like G-Force simulation, where the platform tilts to mimic lateral g-forces pushing the driver against the seat, and responsive pitch adjustments during hard braking. These next-generation motion platforms offer compelling benefits for racing enthusiasts and professionals. They are poised to transform the racing simulation industry by delivering unparalleled realism and effective training solutions and unlock significant economic opportunities throughout the motorsport sector. Companies such as Next Level Racing and Trak Racer are at the forefront of developing these advanced motion platforms. Examples of racing simulators equipped with next-generation motion platforms include the APEX5R PRO and VEsaro V-Zero.

Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=247895850

North America is expected to lead the market during the forecast period.

North America is set to account for the largest value for the racing simulator market by 2030. The US and Canada dominate this market with a rich car racing tradition and virtual racing events. Some popular racing car events in this region are World Rally championships, US Grand Prix (Formula 1), Canadian Grand Prix (Formula 1), Indianapolis 500 (IndyCar), NASCAR Cup Series, 24 Hours of Daytona, Petit Le Mans (IMSA WeatherTech SportsCar Championship), and Grand Prix de Trois-Rivières (NASCAR Pinty's Series). These racing events' appeals extend beyond demographics and attract the interest of younger and older enthusiasts. The high-speed action with cutting-edge technologies and vibrant atmosphere create a thrilling feel that users want to replicate using racing simulators. Racing simulators provide a platform for enthusiasts to engage with the sport firsthand, offering a realistic and interactive alternative. Due to this, the demand for compact simulators is progressive in the countries and will remain dominant in the future.

Key Market Players

The racing simulator market is fragmented and dominated by several global and regional players. Some of the key players in the racing simulator market are CXC Simulation (US), Trak Racer (Australia), SIMXPERIENCE (US), VEsaro (UK), and Vi-Grade GmbH (Germany).

View Detailed TOC @ https://www.marketsandmarkets.com/Market-Reports/racing-simulator-market-247895850.html

Contact: Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road, Suite 430
Northbrook, Illinois - 60062
USA : 1-888-600-6441
UK +44-800-368-9399

About MarketsandMarkets™

MarketsandMarkets™ has been recently recognized as one of America's best management consulting firms by Forbes, as per their recent report.

Founded in 2009, MarketsandMarkets recognized uncharted business potentials within disruptive trends, forecasting a surge of $25 trillion in new B2B revenues by 2030. In our 13-year journey, we've collaborated with over 10,000 companies, generating $140+ billion in revenue impact. From a market research publisher, we've transformed into a growth-enabling leader, backed by a 1500+ strong team.

This release was published on openPR.