Racing Games Market Research Report: By Type (Client Type, Web game Type), By Application (Racing Simulators, PC, Mobile, Consoles) and By Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Forecast 2027

ID: VPR/ICT/1010 Publishing Year: September 2021 Pages: 146 Format:   


Racing Games Market Snapshot:

The Racing Games Market is expected to grow at a CAGR of 11.5% from 2020 to 2027.

A Racing Video Game is one in which the player competes in a race using any form of vehicle, including land, water, air, and space vehicles. They could be based on anything from real-life racing leagues to completely imaginary locations. They can generally be found on a range ranging from rigorous simulations to simpler arcade Racing Games. As the number of players grows, so does the need for driving simulators, which is driving the racing game business. In addition, the emergence of next-generation gaming is boosting the Racing Games Market.

Key Players:

CXC Simulations (U.S.), SIMTECHPRO (Spain), Next Level Racing (Australia), Electronic Arts Inc. (U.S.), PlaySeat (Netherlands), The Codemasters Software Company Limited (U.K.), RaceroomEntertainmenT AG (Switzerland), Nintendo (Japan), Microsoft Corporation (U.S.), Sony Corporation (Japan), Inracing (India), Logitech (Switzerland), Villers Enterprises LTD (U.S.), Openwheeler (U.K.), Guillemot Corporation S.A (France), and Sparco SPA (Italy) are key players of the Racing Games Market.

Covid-19 Impact:

The epidemic of COVID-19 is expected to increase demand for Racing Games. Adults and children's leisure activities, as well as access to cellphones and computers, can all contribute to the download of such games. The launch of new games by publishers to keep people entertained at home as a result of governments' rigorous lockdown requirements can bode well for the market. Increased internet traffic on video game publishers' websites has driven the development of future games to capitalise on the scenario.

Drivers:

The development of next-generation games for consoles, smartphones, and PCs has the potential to considerably increase Racing Games Market Demand. Downloads of racing games have reached an all-time high because to user adoption of platform-specific games and the appearance of new vendors. The adoption of safe platforms for getting the most recent updates and patches can help the market grow. Furthermore, the utilisation of group games to increase player participation and promote team spirit may benefit the Racing Games Market Growth.

Opportunities:

Racing Games are projected to grow in popularity due to the high number of gamers on PCs and mobile devices. The rise of esports and the establishment of gaming leagues to entice more players could propel the Worldwide Racing Games Market Forward. The number of online gamers hit 2.2 billion in 2018, according to Gamescom. Because cellphones are more affordable, more people are downloading mobile games. Because of their familiarity and the addition of new terrains, franchise titles like Need for Speed are predicted to be popular across platforms. Brands are forming alliances and partnerships in order to create game franchises and profit from their success. The shifting interests of gamers and their predilection for open-world settings can provide developers with a perfect opportunity to design new maps. The usage of social media by gamers to brag about their accomplishments might lead to game developers scrutinising them for catering to the gamer base. To acquire market share, developers plan to release racing games for all demographics and appeal to mobile gamers.

Restraints:

The Racing Games Market expansion is projected to be hindered by the high costs of premium games. Subscription models or paying for premium access to complete games might cause gamers to lose interest in games.

Market Segmentation:

The Racing Games Market is divided into two categories: Kind and Application. The Racing Games Market is divided into four categories based on application: racing simulators, PC, mobile, and consoles.

Regional Analysis:

Over the projected period, APAC is expected to grow at the fastest rate. The large number of gamers in China and India can be ascribed to this. Government-issued social distancing restrictions, as well as a huge customer base's preference for browser-based gaming, may influence regional Racing Games Market Demand. Investments in the region are anticipated to be attracted by digital platforms and their big selection of online games. Major game publishers may profit from categorising online Racing Games into premium and free categories. Chinese and Japanese gamers use social media to share their passion for games and raise awareness about them. Game publishers can use this to create more profitable products that cater to specific gaming interests.

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