The gaming simulators market is expected to grow by USD 8.58 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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Technavio has announced its latest market research report titled Global Gaming Simulators Market 2020-2024 (Graphic: Business Wire)
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The growing penetration of VR headsets has increased awareness and their use in the gaming industry. Integrating VR headsets with gaming simulator provides an immersive environment for gamers. It increases comfort and removes unnecessary distractions. VR headsets also act as a substitute for expensive LED screens. Such benefits have increased the popularity of VR headsets among gamers, which is fueling the growth of the global gaming simulators market.
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As per Technavio, the increasing sophistication of games will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Gaming Simulators Market: Increasing Sophistication of Games
The techniques of gaming are becoming increasingly sophisticated with changing preferences from a diverse group of consumers. For example, the adult consumer segment prefers more sophisticated and interactive games to escape from reality or to relieve stress. Hence, several gaming titles in the market are designed specifically to cater to this segment. Also, adult gamers tend to spend more for an enhanced gaming experience. These factors are positively influencing the demand for gaming simulators, which is driving market growth.
“Acceptance of 360-degree camera as next-generation technology and the ability of gaming simulators to provide the ultimate gaming experience will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Gaming Simulators Market: Segmentation Analysis
This market research report segments the gaming simulators market by End-user (Commercial and Residential), Type (Racing, Shooting, and Flight), Component (Hardware and Software), and Geographic (North America, Europe, APAC, South America, and MEA).
The North American region led the gaming simulators market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, North America is expected to register the highest incremental growth due to the proliferation of e-sports arenas in the region.
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Some of the key topics covered in the report include:
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