Racing Games Trends and Forecasts to 2030
Racing Games Market is expected to generate a market value of USD 13.64 Billion by 2030 growing at a CAGR of 11.6%.
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Market Research Future Insights:
During the projected period, the racing games market is anticipated to be driven by elements including the advent of next-generation gaming technologies and an increase in demand for driving simulators. The popularity of AR and VR games presents profitable potential for the market's vendors. The high price of games, gaming consoles, and accessories, however, is anticipated to impede market expansion.
The ecosystem for the global racing games market is made up of console manufacturers, distributors, resellers, hardware vendors, and software developers who create games. A small number of major players who provide comprehensive gaming offerings dominate the market for racing games.
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Racing games are a type of video game genre in which the player participates in a racing competition Racing games can range from simple top-down racing games, to more complex simulations of real-world racing leagues. Popular racing games include Forza Horizon 5 Premium Edition, MotoGP20 - Windows Edition, and Asphalt 8: Airborne.
Regional Analysis:
The Middle East & Africa, South America, North America, Europe, and Asia Pacific (APAC) have all been included in the regional analysis for the international racing games.
The market in Asia-Pacific held the greatest racing games market share in 2018 and is anticipated to continue to rule the industry over the next five years. China has the largest gaming market in the Asia-Pacific region. During the forecast period, North America is anticipated to be one of the biggest markets for racing games. The area is one of the biggest markets for the gaming sector, and many major players are present there.
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Market Segmentation:
Segmentation of the global racing games market has been done by type, application, and region.
The racing game market has been divided into client type and webgame type based on kind. The client type category had a greater racing games market share in 2018 and is predicted to hold the top spot for the duration of the forecast. Games on CD and those that can be downloaded make up the client type portion. These can be played on consoles, mobile devices, PCs, and connected simulators. Client-type games are preferred by most racing game gamers. The client type segment held the largest market share of 96.9% in 2018 and is anticipated to grow at a faster CAGR of 11.3% over the following five years.
The racing games market has been divided into mobile, PC, console, and racing simulators based on application. Additional divisions of the console sub-segment include XBOX, PlayStation, and others. The PC segment has been expanded to include games that can be downloaded or bought from actual stores and played on personal computers. On a smartphone, games that are downloaded as mobile applications from the App Store or Play Store are categorised under the mobile segment. Gamers who like fast-paced racing games and want to have realistic handling and controls use consoles. Racing simulators are employed by private businesses and educational institutions to train drivers as well as for entertainment. In 2018, the mobile segment held the largest racing games market share; over the forecast period, it is anticipated to grow at a CAGR of 11.4%. The second-largest market in 2018 was the PC segment, which is expected to grow at a 6.5% CAGR.
Racing Games Market By Gaming Type:
- Console
- Laptop
- Smartphone
- Download PC
- Tablet
Racing Games Market By Geography:
- Asia pacific
- Europe
- North America
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Key Players:
The Prominent Players operating in the Racing Games Market are Guillemot Corporation S.A (France), Logitech (Switzerland), Raceroom EntertainmenT AG (Switzerland), Nintendo (Japan), Microsoft Corporation (US), Electronic Arts Inc. (US), The Codemasters Software Company Limited (UK), Sparco SPA (Italy), SIMTECHPRO (Spain), Openwheeler (UK), Inracing (India), Villers Enterprises LTD (US), CXC Simulations (US), Sony Corporation (Japan), Next Level Racing (Australia) and PlaySeat (Netherlands).
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