The racing simulator industry size is projected to grow from USD 0.5 billion in 2024 to USD 1.1 billion by 2030 at a CAGR of 15.6% during the forecast period.
Rising e-sports leagues and competitions, a preference for professional motor racing events, ongoing simulation technology advancements, growing cost, and convenient accessibility are the primary factors propelling the racing simulator market’s expansion. Furthermore, an increasing emphasis on professional training and leisure gaming, along with the integration of virtual reality and artificial intelligence (AI) technology into racing simulators, will fuel the growth of the racing simulator market globally.
Throughout the projected period, the market share of compact/entry-level racing simulators is the largest.
Due to factors including space efficiency, cost, ease of setup, and public appeal, compact simulators dominate the global market and are primarily chosen by casual and entry-level/beginner racing enthusiasts for home and entertainment applications. Basic gear including steering wheels, pedal sets, metal frames, monitor stands, and seats that easily fit in the small space are included with these simulators, which are often cost under USD 2,000. Additionally, they are used in commercial entertainment establishments such family entertainment centers, gaming lounges, and arcades. Numerous players offer a selection of products to facilitate convenient and simple purchasing possibilities. Compact racing simulator use is anticipated to be fueled by the growth of the e-sports industry and competitive virtual racing competitions. The developed nations of North America and Europe have robust console gaming cultures, and companies like D-BOX Technologies Inc., Trak Racer, Simxperience, Simworx Pty Ltd, and Vi-Grade GmbH are well-represented and provide a range of reasonably priced simulators. Due to its strong profit margins and cost advantages, the compact market is easy to break into, which attracts a lot of new competitors. For example, the Sabelt S Series compact simulators, which come in four cockpit variations and range in price from €699 to €1,497, were introduced by Sabelt, a maker of racing vehicle seats, belts, and other motorsport items. Compact racing simulators are becoming more and more popular around the world, and this is partly due to the fact that many other small and medium-sized producers are joining this industry to take advantage of company growth potential.
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“By 2030, steering wheels will be the most popular and rapidly expanding component in racing simulators.”
Over the course of the projection period, the steering wheel is anticipated to be the most popular and rapidly expanding component in the racing simulator market. A typical steering wheel closely resembles those used in actual race vehicles and typically has buttons, paddle shifters, rotary knobs, and digital displays. In order to replicate the resistance and vibrations experienced when driving on different surfaces or performing maneuvers, the sophisticated steering system uses force feedback technology. With the help of the included software, users can customize the information shown on steering wheels with on-board displays. Steering wheels come in a variety of designs, options, and customizations, including original equipment from Porsche, McLaren, and BMW. However, these steering wheels with sophisticated control mechanisms are placed in mid- and full-scale racing simulators due to their higher cost. Leading companies like Logitech, Thrustmaster, and Fanatec provide steering wheels with features like direct drive systems for unmatched force feedback, magnetic sensors for accurate control, and connectivity with virtual reality installations for an even more engaging experience. Therefore, a number of developments are on the broad lead to impact consumer tastes and propel the prolonged demand for sophisticated steering wheels in mid- to full-scale racing simulators in order to make the virtual racing experience more captivating and realistic.
Over the course of the projected period, North America will dominate the racing simulator market.
Future developments in racing simulators and expansions made by racing simulators to meet the growing demand for racing simulators are the main factors driving the growth of the North American racing simulator market. Strong and established gaming and esports cultures, a significant presence in motorsports, a high level of disposable money, and a greater acceptance of technologically advanced products are all factors contributing to this region’s success. A sizable section of the populace participated actively in online racing competitions like NASCAR and the Indycar Series in the area. A large number of people attend these sim racing competitions with alluring prize pools. Additionally, the area is at the forefront of technical advancement, which results in the creation of state-of-the-art racing simulator technologies like virtual reality integration, HD graphics, and sophisticated motion platforms, among others. Important simulator suppliers including D-Box Technologies, Inc. (Canada), Vi-Grade GmbH (Germany), Trak Racer (Australia), Next Level Racing (Australia), and CXC Simulation (US) meet the market demand. The growing popularity of racing simulators in North America has been largely fueled by the sim racing culture’s strong feeling of community and social engagement as well as the expansion of eSports events in the area.
Key Market Players
The racing simulator market is led by established players such as CXC Simulation (US), D-Box Technologies, Inc. (Canada), Trak Racer (Australia), Next Level Racing (Australia), SIMXPERIENCE (US), Vi-Grade GmbH (Germany), Cruden B.V. (Netherlands), and Simworx Pty Ltd (Australia).
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