Global Gaming Simulation Market Valued at $4.86 Billion in 2020, Set to Hit $20.76 Billion by 2030
Adoption of gaming simulation for training and analysis in various industries, surge in demand for VR headsets, and acceptance of 360-degree cameras as next-generation technology across different developing nations drive the growth of the global gaming simulation market. However, security and privacy issues and the high cost of VR headsets restrain the market growth. On the other hand, the adoption of AI and cloud computing for enhanced experience and collaboration between the entertainment industry and gaming simulator companies creates new opportunities in the coming years.
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Covid-19 Scenario:
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.
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.
The report offers detailed segmentation of the global gaming simulation market based on component, game type, end-user, and region.
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.
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.
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Leading players of the global gaming simulation market analyzed in the research include 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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