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Gaming Simulator Market Size, Share & Trends Analysis Report By Component (Hardware, Software), By Game Type (Racing, Shooting), By End Use, By Region, And Segment Forecasts, 2020 – 2027 *Source
The global gaming simulator market size was valued at USD 4.04 billion in 2019. It is expected to expand a compound annual growth rate (CAGR) of 12.1% from 2020 to 2027. Initiatives being pursued by the market players to implement virtual reality to ensure real-life gaming experiences for gamers are expected to drive the market expansion. The growing adoption of gaming simulators for training and analysis in various industries and industry verticals is also expected to contribute to market growth.
The use of gaming simulators as potential stress busters also bodes well for the growth. The demand for gaming simulators is growing as gamers are increasingly preferring immersive and realistic games. Gaming simulators hold the potential to cater to these changing preferences of gamers. At the same time, new platforms are also being launched to introduce new and innovative games. This is prompting the market players to develop advanced gaming simulators. For instance, in March 2019, Next Level Racing launched F-GT Lite, a portable racing cockpit that offers real-life Formula or GT racing experience.
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Increase in users of iRacing during the coronavirus (COVID-19) pandemic worldwide as of March 2020. *Source
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