Gaming Simulation Market to Reach USD 15.2% Billion by 2030 , says Allied Market Research
The increase in acceptance of 360-degree cameras, as next-generation technology across different developing nations positively impacts the growth of the market.
PORTLAND, PORTLAND, OR, UNITED STATES, September 20, 2023/EINPresswire.com/ — A recent report from Allied Market Research shows that the gaming simulation market earned $4.86 billion in 2020. The report predicts that the market will grow and generate $20.76 billion by 2030, with a 15.2% annual growth rate from 2021 to 2030. The report analyzes the market’s evolution, identifies the most promising investment opportunities, examines regional differences, and provides information on key segments, value chain, and competition.
The adoption of gaming simulation for training and analysis in various industries, the surge in demand for VR headsets, and the 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 the need to provide enhanced training to their employees led to a rise 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.
Based on components, 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.
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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.
The report focuses on growth prospects, restraints, and trends of the global gaming simulation market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors, such as the bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers, on the global gaming simulation market share.
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