Market Overview:
The global racing simulators market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for racing simulators for private entertainment use and commercial use. Racing simulators are used in various applications such as automotive, aerospace, defense, and marine industries. North America is expected to hold the largest share of the global racing simulator market in 2018 owing to the presence of major players in this region and increasing demand for advanced technology products.
Product Definition:
A racing simulator is a computer game that attempts to accurately simulate the experience of driving or riding a motorcycle, car, truck, boat, or other vehicle.
Formula Simulator:
The Formula simulator is used to test the aerodynamics, engine performance, tire behavior and other physical properties of racing cars. It also helps in testing driver skills and tactics during a race. The growth factor in this market is increasing demand for virtual testing environment which can replicate any track conditions under any weather condition with real car component simulation. This factor will propel the market growth over the forecast period.
GT Simulator:
GT simulator is a software application that recreates the driving experience with the help of advanced algorithms and 3D models. GT simulator offers various benefits such as it helps in improving lap times, car setup, tire management, and fuel efficiency. It also provides data for setting up a race strategy to win the race or to achieve high finishing position. GT simulators are used by teams as well as individual drivers for training purposes during practice sessions and races respectively.
Application Insights:
The commercial use segment dominated the global racing simulator market in terms of revenue share in 2017. The segment is expected to expand at a CAGR of XX% over the forecast period owing to an increase in the number of motorsports events and rising popularity among participants as well as viewers, especially from countries such as U.S., Canada, Brazil, China and India. Furthermore, governments are taking initiatives to promote sports tourism which will further boost demand for racing simulators across hotels and other recreational facilities within their country.
Regional Analysis:
The Asia Pacific regional market is anticipated to grow at the highest CAGR over the forecast period owing to increasing demand for racing simulators in countries, such as China and India. The commercial application segment is expected to dominate the overall industry in this region. Furthermore, rising popularity of motorsports events including Formula 1 and MotoGP has been driving simulator sales in this region.
North America accounted for a significant revenue share within global industry due to high demand from U.S., which hosted several major racing events across various categories including Tour de France, Indianapolis 500 Mile Race, Rolex 24 At Daytona and others between 2015 and 2017 (UBS AG). In addition, growing trend of automotive customization among consumers will boost product adoption further driving growth during forecast period.
Growth Factors:
- Increasing demand for racing simulators from the automotive sector as a tool for research and development.
- Racing simulator technology becoming more realistic and providing a more immersive experience, which is attracting consumers to purchase them.
- Proliferation of virtual reality (VR) technology, which is being integrated into racing simulators to provide an even more immersive experience for users.
- Racing simulator manufacturers focusing on developing low-cost models in order to make them more accessible to a wider audience.
Scope Of The Report
Report Attributes
Report Details
Report Title
Racing Simulators Market Research Report
By Type
Formula Simulator, GT Simulator
By Application
Private Entertainment Use, Commercial Use
By Companies
Cruden, CXC, SimXperience, AeonSim, VRX Simulators, VirtualGT, Bernax, Eleetus, Force Dynamic, D-BOX, Cruden
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
152
Number of Tables & Figures
107
Customization Available
Yes, the report can be customized as per your need.
Global Racing Simulators Market Report Segments:
The global Racing Simulators market is segmented on the basis of:
Types
Formula Simulator, GT Simulator
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Private Entertainment Use, Commercial Use
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Cruden
- CXC
- SimXperience
- AeonSim
- VRX Simulators
- VirtualGT
- Bernax
- Eleetus
- Force Dynamic
- D-BOX
- Cruden
Highlights of The Racing Simulators Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Formula Simulator
- GT Simulator
- By Application:
- Private Entertainment Use
- Commercial Use
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Racing Simulators Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Racing simulators are computer games that allow players to experience the thrill and excitement of racing on a real track. They typically feature high-quality graphics, realistic car models, and challenging race conditions. Racing simulators can be used for entertainment or training purposes.
Some of the key players operating in the racing simulators market are Cruden, CXC, SimXperience, AeonSim, VRX Simulators, VirtualGT, Bernax, Eleetus, Force Dynamic, D-BOX, Cruden.
The racing simulators market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Racing Simulators Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Racing Simulators Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Racing Simulators Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Racing Simulators Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Racing Simulators Market Size & Forecast, 2018-2028
4.5.1 Racing Simulators Market Size and Y-o-Y Growth
4.5.2 Racing Simulators Market Absolute $ Opportunity
Chapter 5 Global Racing Simulators Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Racing Simulators Market Size Forecast by Type
5.2.1 Formula Simulator
5.2.2 GT Simulator
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Racing Simulators Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Racing Simulators Market Size Forecast by Applications
6.2.1 Private Entertainment Use
6.2.2 Commercial Use
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Racing Simulators Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Racing Simulators Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Racing Simulators Analysis and Forecast
9.1 Introduction
9.2 North America Racing Simulators Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Racing Simulators Market Size Forecast by Type
9.6.1 Formula Simulator
9.6.2 GT Simulator
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Racing Simulators Market Size Forecast by Applications
9.10.1 Private Entertainment Use
9.10.2 Commercial Use
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Racing Simulators Analysis and Forecast
10.1 Introduction
10.2 Europe Racing Simulators Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Racing Simulators Market Size Forecast by Type
10.6.1 Formula Simulator
10.6.2 GT Simulator
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Racing Simulators Market Size Forecast by Applications
10.10.1 Private Entertainment Use
10.10.2 Commercial Use
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Racing Simulators Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Racing Simulators Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Racing Simulators Market Size Forecast by Type
11.6.1 Formula Simulator
11.6.2 GT Simulator
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Racing Simulators Market Size Forecast by Applications
11.10.1 Private Entertainment Use
11.10.2 Commercial Use
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Racing Simulators Analysis and Forecast
12.1 Introduction
12.2 Latin America Racing Simulators Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Racing Simulators Market Size Forecast by Type
12.6.1 Formula Simulator
12.6.2 GT Simulator
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Racing Simulators Market Size Forecast by Applications
12.10.1 Private Entertainment Use
12.10.2 Commercial Use
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Racing Simulators Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Racing Simulators Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Racing Simulators Market Size Forecast by Type
13.6.1 Formula Simulator
13.6.2 GT Simulator
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Racing Simulators Market Size Forecast by Applications
13.10.1 Private Entertainment Use
13.10.2 Commercial Use
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Racing Simulators Market: Competitive Dashboard
14.2 Global Racing Simulators Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Cruden
14.3.2 CXC
14.3.3 SimXperience
14.3.4 AeonSim
14.3.5 VRX Simulators
14.3.6 VirtualGT
14.3.7 Bernax
14.3.8 Eleetus
14.3.9 Force Dynamic
14.3.10 D-BOX
14.3.11 Cruden
