Press release
Gaming Simulation Market Share Projected to Reach USD 20.76 Billion Globally by 2030 at 15.2% CAGR
Increase in adoption of gaming simulation for training and analysis in various industries and rise in demand for virtual reality (VR) headsets boost growth of the global gaming simulation market. In addition, increase in acceptance of 360-degree camera, as next-generation technology across different developing nations positively impacts growth of the market. However, security and privacy issues associated with VR headsets and high cost of VR headsets hamper the gaming simulation market growth. On the contrary, adoption of AI and cloud computing for better experience and increase in collaboration between entertainment industry and gaming simulator companies across the globe are expected to offer remunerative opportunities for expansion of the gaming simulation industry during the forecast period.
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The global gaming simulation market size was valued at USD 4.86 billion in 2020, and is projected to reach USD 20.76 billion by 2030, growing at a CAGR of 15.2% from 2021 to 2030.
The global gaming simulation market is segmented into component, game type, end user, and region. By component, the market is bifurcated into hardware, software and service. On the basis of game type, it is categorized into shooting, fighting, racing, and others. Depending on end user, it is classified into residential and commercial. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Based on component, the hardware segment accounted for the largest market share in 2020, contributing to nearly three-fifths of the total share, and is estimated to maintain its lead position during the forecast period. However, the software segment is expected to manifest the fastest CAGR of 16.9% from 2021 to 2030.
Based on game type, the racing segment contributed to the largest share in 2020, holding nearly three-fifths of the global gaming simulation industry, and is projected to maintain its leadership status during the forecast period. However, the fighting segment is expected to portray the largest CAGR of 17.8% from 2021 to 2030.
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Based on region, North America held the highest share in 2020, accounting for nearly two-fifths of the total share, and is estimated to maintain its dominance by 2030. However, Asia-Pacific is expected to portray the highest CAGR of 16.3% during the forecast period.
Key industry players - 3D Perception, CXC Simulations, CKAS Mechatronics Pty Ltd., Eleetus, D-Box Technologies Inc., Play seat B.V., Hammacher Schlemmer & Company, Inc., Sony Interactive Entertainment Inc., Rseat Ltd., and Vesaro.
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Key Findings Of The Study
● By component, the hardware accounted for the largest gaming simulation market share in 2020.
● Depending on game type, the racing segment generated the highest revenue in 2020.
● Region wise, North America generated highest revenue in 2020.
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