Gaming Simulation market Booming: Expected Massive Growth Forecast $20.76 Billion by 2030

Gaming simulation is a platform, which is used to offer digital immersive user experience that can be used for entertainment and business applications among various industry verticals. In addition, gaming simulation is a computer-generated 3D environment, which completely immerses end users in an artificial world without seeing the real world. Moreover, gaming simulation applications enable developers to integrate contextual or digital content with the real world in real time. These are the major factors that boost the adoption of the gaming simulation technology.

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Furthermore, the key factor that drives the gaming simulation market growth includes increase in penetration of digital & non-digital educational games, game-based learning, and web-based simulation games. In addition, rise in acceptance of 360-degree camera as next-generation technology across 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 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 market during the forecast period.

According to the report published by Allied Market Research, the global gaming simulation market garnered $4.86 billion in 2020 and is expected to generate $20.76 billion by 2030, witnessing a CAGR of 15.2% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top investment pockets, regional landscape, key segments, value chain, and competitive scenario.

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Depending on end user, the residential segment dominated the gaming simulation market share in 2020, and is expected to continue this trend in the upcoming years. The major factor that drive the growth of the residential segment include rise in demand for advanced gaming simulators for a better gaming experience among the younger generation. However, the commercial segment is expected to witness significant growth rate during the forecast period, owing to surge in need of simulator among various industries for training employees and predicting various types of risk.

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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Region-wise, the gaming simulation market was dominated by North America in 2020, and is expected to retain its position during the forecast period. This is attributed to growing real-life simulator games that offer digital immersive user experience and are mainly used for entertainment and business applications among various industry verticals. In addition, gaming simulators provide highly realistic video games, where cars, people and nearly every object obey the laws of physics and replicates a real-life production, which in turn drives the growth of the market.

However, Asia-Pacific is expected to observe highest growth rate during the forecast period, owing to continual implementation of modern technologies, such as virtual reality (VR), 360 degree displays, in gaming simulators in order to give real-life gaming experiences to the end user. In addition, various key players of the market are introducing new generation gaming games featuring 360-degree cameras, revolving platforms and others for improving their market value and to upsurge their revenue opportunity which is driving the growth of the market.

Covid-19 Scenario:

1. An increased shift toward virtual and augmented reality-based simulators in different organizations and businesses with the adoption of remote working and need to provide enhanced training to their employees led to rising in demand for gaming simulation during the Covid-19 pandemic.

2. A shutdown of various gaming centers and entertainment places across the globe during the lockdown led to increased adoption of online gaming. This, in turn, increased the demand for simulators.

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