Market Analysis
The global racing games market is predicted to touch USD 16836.7 million at an 11.2% CAGR between 2019- 2025, states the recent Market Research Future (MRFR) analysis. Racing video games, simply put, is a type of video game where the player takes part in a racing competition with any form of space, air, water, or land vehicles. They are based on real-world racing leagues or completely fantastical settings. These games in general, can be distributed with a spectrum between hardcore simulations & simpler arcade racing games. Web-game type and client type are the types of racing games that have increasing applications in racing simulators, cosole, PC, and mobile.
Various factors are propelling the global racing games industry. As per the current MRFR report, such factors include the popularity of VR and AR games, the growing demand for driving simulators, and the emergence of next-generation gaming technologies.
On the flip side, the ongoing COVID-19 impact coupled with the high price of gaming consoles & games may limit the global racing games market growth over the forecast period.
Market Segmentation
The MRFR report provides a detailed segmental analysis of the global racing games market based on type and application.
By type, the global racing games market is segmented into web-game type and client type. Of these, the client type segment will lead the market over the forecast period. It is anticipated to grow at a favorable 11.3% CAGR by 2025.
By application, the global racing games market is segmented into racing simulators, cosole, PC, and mobile. The cosole segment is again segmented into PlayStation, XBOX, and others. Of these, the mobile segment will dominate the market over the forecast period. This region is predicted to grow at an 11.4% CAGR by 2025. This will be followed by the PC segment, which is predicted to grow at a 6.5% CAGR during the forecast period.
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Regional Analysis
Based on the region, the global racing games market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, South America, Europe, & the Middle East and Africa (MEA). Among these, the APAC region will spearhead the market over the forecast period. China has the utmost share in the market.
The global racing games market in North America is predicted to have healthy growth over the forecast period. The presence of eminent players in this region is adding to the global racing games market growth.
The global racing games market in Europe is predicted to have the second-largest share over the forecast period. The presence of some of the top game development studios in the world is adding to the global racing games market growth in the region. France, Germany, as well as the UK have a maximum share in the market.
The global racing games market in South America is predicted to have admirable growth over the forecast period. The wide availability of cost-effective gaming hardware has boosted the total number of console gamers and PC coupled with the rising adoption of mobile handsets is adding to the global racing games market growth in the region. Colombia, Argentina, and Brazil have the utmost share in the market for the booming gaming community.
The global racing games market in the MEA is predicted to have sound growth over the forecast period.
Key Players
Eminent players profiled in the global racing games market report include PlaySeat (Netherlands), Next Level Racing (Australia), Sony Corporation (Japan), CXC Simulations (US), Villers Enterprises LTD (US), Inracing (India), Openwheeler (UK), SIMTECHPRO (Spain), Sparco SPA (Italy), The Codemasters Software Company Limited (UK), Electronic Arts Inc. (US), Microsoft Corporation (US), Nintendo (Japan), Raceroom EntertainmenT AG (Switzerland), Logitech (Switzerland), and Guillemot Corporation S.A (France).
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