Racing Games Market 2020 Growth Rate, Size, Trend, Key Players and Forecast 2025
Posted by AkashMRFR on September 9th, 2020
The global racing video game is growing with popularity through the advent of high-end technicalities. With greater popularity and demand for the game, the international racing game market is speculated to witness a massive growth at a whopping CAGR of 11.2%. This growth rate is expected to happen in between the forecasted of 2019 and 2025. The market is primarily fuelled by the growing demand for simulators with a consistently growing number of gamers. The advent of upgraded versions of the game is also one of the prime reasons behind the growth rate.
Opportunities for the vendors have significantly grown in modern-day market enthusiastic about racing games. Not just in professional, the growth rate is expected to remain steady for the casual game segment as well. The scenario is going to be even more enchanting with the advent of high-end devices, ranging from smartphones to the tablets. Interestingly, the number of PC gamers is still quite intact despite the availability of so many options. All these aspects, in combination, have ensured the steady growth of the global racing game market.
A number of gamers based on the smartphone platform has grown hugely with the availability of more number of free games. In fact, the devices are getting quite cost-effective as well. Developers are very much enriched these days with high-end tools to develop products of optimal quality. Moreover, gaming fans see no barrier in terms of age groups. Starting from teen, youth, to the elderly generation, everyone is equally enthusiastic about gaming these days, with it becoming the prime way of entertaining. Racing Games Market is speculated to reach 16836.7 Million by 2025.
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).
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.
TABLE OF CONTENT
1 Executive Summary
1.1 Market Attractiveness Analysis 12
1.1.1 Global Racing Games Market, By Region 13
2 Market Introduction
2.1 Definition 14
2.2 Scope Of The Study 14
2.3 Research Objective 14
2.4 Market Structure 15
3 Research Methodology
4 Market Insights
5 Market Dynamics
5.1 Introduction 25
5.2 Drivers 26
5.2.1 Emergence Of Next-Generation Gaming 26
5.2.2 Rise In Demand For Driving Simulators 26
5.2.3 Driver Impact Analysis 27
5.3 Restraint 27
5.3.1 High Cost 27
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