Racing Games Market 2020-2025 - Sales Revenue, Grow Pricing and Industry Growth

Posted by AkashMRFR on May 13th, 2020

Overview

Global Racing Games Market is expected to reach USD 8,061.1 Million by 2025, growing at a CAGR of 11.2% during the forecast period (2019–2025). In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the coming years.

Factors such as the emergence of next-generation gaming technologies and a rise in demand for driving simulators are expected to drive the market during the forecast period. The popularity of AR and VR games offers lucrative opportunities to the vendors operating in the market. However, the high cost of games and gaming consoles and accessories are expected to hinder the growth of the market.

The global racing games market ecosystem consists of software developers who create games, publishers of games, distributors and resellers, hardware vendors, and console manufacturers. The market for racing games is dominated by a few big players offering comprehensive offerings in the gaming industry

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).

Segmental Analysis

Global Racing Games Market has been segmented based on Type, Application, and Region

Based on the Type, the racing games market has been segmented into client type and webgame type. The client type segment accounted for a larger market share in 2018 and is expected to continue leading the market throughout the forecast period. The client type segment consists of downloadable and CD-games. These can be played on PCs, mobile, consoles, as well as simulators connected to a PC or console. The majority of the racing games players prefer client type games. The client type segment accounted for the larger market share of 96.9% in 2018, and it is expected to register the higher CAGR of 11.3% during the forecast period

Based on Application, the market has been segmented into mobile, PC, console, and racing simulators. Console sub-segment is further bifurcated into XBOX, PlayStation, and others. The games which are downloaded or purchased from physical stores and played on personal computers have been considered in the PC segment.  The games which are downloaded in the form of mobile applications from the App Store or Play Store on a smartphone are considered in the mobile segment. Consoles are used by gamers who prefer fast-paced racing games and want to experience realistic handling and controls. Racing simulators are used for entertainment as well as for training drivers during educational institutions and private businesses. The mobile segment accounted for the largest market share in 2018, and it is expected to register a CAGR of 11.4% during the forecast period. The PC segment was the second-largest market in 2018, and it is projected to exhibit a CAGR of 6.5%.

Detailed Regional Analysis

The regional analysis for the global racing games has been conducted for North America, Europe, Asia Pacific (APAC), and the Middle East & Africa, and South America.

The market in Asia-Pacific accounted for the largest market share in 2018, and it is expected to dominate the market during the forecast period. In Asia-Pacific, China is the largest gaming market.

North America is expected to be one of the largest markets for racing games during the forecast period. The region is one of the largest markets for the gaming industry and also has the presence of a large number of major players.

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