Racing Simulator Market Forecast to Surge at 15.6% CAGR through 2030: Europe and Full-Scale Types Showing Robust Growth
Dublin, March 18, 2024 (GLOBE NEWSWIRE) -- The "Global Racing Simulator Market by Type (Compact, Mid- & Full-Scale), Application (Personal & Commercial), Offering (Hardware & Software), Vehicle Type (Passenger Cars & Commercial Vehicle), Sales Channel (Online & Offline), Component & Region - Forecast to 2030" report has been added to * ResearchAndMarkets.com's* offering.
The global racing simulator market is poised to accelerate from USD 0.5 billion in 2024 to surpass USD 1.1 billion by 2030, exhibiting a significant CAGR of 15.6%
This burgeoning growth can be attributed to the increased interest in esports events across the globe, strategic initiatives of the motorsport association towards virtual sim racing events, and a heightened demand for these simulators in the realm of entertainment.
*Online Sales Channels to Dominate Purchasing Platforms*
In the realm of distribution, online sales channels have taken the lead, commanding upwards of 85% of the market share. Benefits fueling this domination include centralized marketplaces for diverse product exploration, availability of comprehensive options aligned with consumer desires, and competitive pricing afforded by the presentation of various merchants. Racing simulator companies are tapping into online platforms to establish direct engagement with consumers, thereby driving down distribution and inventory costs which in return promote competitive pricing and enhanced profit margins.
*Full-scale Simulators: The Fastest Growing Segment by Simulator Type*
· Full-scale racing simulators represent a cutting-edge breed that promises lifelike experiences with state-of-the-art visual and motion technology.
· Though starting at a premium price point of USD 12,000, these simulators cater to a distinct segment of professional racing training centers and passionate racing professionals.
· The integration of VR headsets and sophisticated motion platforms in full-scale simulators resonates with the dynamic needs of professional racers and aspirants, fueling the segment's rapid growth.
Europe claims the silver medal in the racing simulator market marathon, following North America's lead, with the United Kingdom taking the regional crown. The effervescent motorsport culture evident through events such as the British Grand Prix, and augmented by the proliferation of professional racing teams, contributes greatly to the European market's expansion.
*Companies Mentioned*
· Cxc Simulations
· Trak Racer
· Next Level Racing
· VI-Grade GmbH
· D-Box Technologies Inc.
· Cruden
· Anthony Best Dynamics Limited
· Cranfield Aerospace Solutions
· Simxperience
· Simworx Pty Ltd.
· Rs Simulation
· Vesaro
· Vertical Reality Simulations, LLC
· Jcl Simulator
· Fpzero Simulators
· Dof Reality Motion Simulators
· Advanced Simracing
· Eca Group
· Motum Simulation Pty Ltd.
· Simcraft
· Profisim S.R.O.
· Ckas Mechatronics Pty Ltd.
· Prs
· Imsim
· Simulationstechnik Lingnau GmbH
· Cool Performance
· Moza Racing
· Playseat
· Tecknotrove
· Faac Incorporated
· Avsimulation
For more information about this report visit https://www.researchandmarkets.com/r/qkw3el
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