Racing Simulator Market

Racing Simulator Market by Type (Compact, Mid- & Full-Scale), Application (Personal & Commercial), Offering (Hardware & Software), Vehicle Type (Passenger Cars & Commercial Vehicle), Sales Channel (Online & Offline), Component & Region Global Forecast to 2030

Report Code: AT 8950 Feb, 2024, by marketsandmarkets.com

[222 Pages Report] The racing simulator market is projected to grow from USD 0.5 billion in 2024 to USD 1.1 billion by 2030 at a CAGR of 15.6% during the forecast period. The increasing popularity of virtual sim racing events, the growing use of racing simulators for entertainment purposes, the rising number of motorsport events, and the increasing application to racing simulators for professional racers training are some drivers of this market.

Racing Simulator Market

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Racing Simulator Market Opportunities

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Racing Simulator Market Dynamics

Driver: The Growing Number of eSport competitions with significant prize money.

The increasing popularity of esports in recent years offers gamers a platform for participating in virtual tournaments. There has been an increased demand for racing simulators in such virtual events, as these systems provide an immersive gaming experience aligned with the surge in esports engagement. Unlike real-world counterparts, the esports racing simulator offers a more accessible and affordable path to competition. Instead of spending millions on buying actual race cars and providing sponsorship for race events, racing enthusiasts other than professional drivers prefer virtual racing using decent gaming PCs and racing simulator setups. Enhanced internet speeds contribute to developing rich and profound experiences, incorporating features such as high-resolution graphics, intricate track simulations, and seamless integration with virtual reality technology. Prominent esports competitions such as the Formula One Esports Series and Le Mans Virtual Series have emerged as prestigious events that allow participants to highlight their skill and commitment in sim racing. The growing number of virtual racing events with good prize pools attract sim racing enthusiasts towards virtual sim racing, driving the demand for racing simulators. For instance, Porsche TAG Heuer Esports Supercup organizes the Esports racing events with a prize pool of around USD 200,000.

Similarly, the Formula One Sim Racing World Championship organized the virtual sim racing event with a prize pool of USD 750,000. Hence, the rising prevalence of e-sport events will inspire users from different age groups to participate in and win such tournaments. This will subsequently boost the demand for racing simulators to a global level.

Restraint: High Integration and Switching Cost.

The substantial expense linked with racing simulators poses a significant obstacle to the expansion and accessibility of the market. Racing simulators entail sophisticated technologies necessitating high-level hardware and software to provide an authentic and immersive experience. The development and manufacturing costs for these advanced components lead to a steep retail price for the simulators. Consequently, this initial high cost restricts market adoption to a broader audience with the financial resources to invest in such premium racing simulators. Customers with a casual interest in gaming or racing simulations may perceive these prices as prohibitive, impeding the growth of the racing simulator industry.

Moreover, a considerable portion of users are looking to transition from compact simulators to mid-level or full-scale simulators, primarily due to the inclusion of additional expensive hardware such as motion platforms, HD monitors, hydraulics, and AR/VR capabilities. Additionally, the requirement for gaming peripherals like high-performance GPUs, processors, and other accessories contributes to the overall cost of the simulator. Consequently, the demand for mid-level and full-scale, motion-based simulators remains limited, primarily confined to commercial and professional training applications. In economically sensitive regions such as China, India, and Brazil, the adoption of advanced and full-scale racing simulators is predominantly seen among individuals with high disposable incomes. Furthermore, the high cost may deter businesses and gaming establishments from integrating racing simulators into their facilities, thus restricting the overall market penetration of the industry. To address this challenge, manufacturers may need to explore cost-effective solutions or alternative pricing strategies to enhance the accessibility of racing simulators to a broader consumer demographic.

Opportunities: Integration of artificial intelligence (AI), virtual reality, and next-generation motion platforms.

Racing simulators have attained greater realism through technological advancements such as Virtual Reality (VR), sophisticated motion platforms, and the integration of artificial intelligence. VR is witnessing a surge across the sports and gaming industries. Notably, first-person racing simulation games have extensively embraced VR technology, elevating the experience through head-mounted displays (HMDs). Rapid progress in VR HMDs has led to the widespread availability of commercial models tailored for gaming, now accessible at reasonable prices. Products like Oculus Rift and HTC Vive are priced at around USD 800, enhancing VR's accessibility for racing enthusiasts.

Moreover, certain VR headsets are integrating "Feedback technology," enabling racers to sense the engine vibrations, road bumps, and even the G-forces during cornering, thus adding another dimension of realism and depth to the experience. Similarly, advanced VR headsets with full-body tracking allow racers to replicate real-world movements such as steering, braking, and accelerating with their arms and legs in the virtual environment, resulting in a more immersive and physically engaging experience.

In addition, various racing simulator manufacturers are directing their efforts towards advancing motion platforms, such as 5 degrees of freedom (DOF) and 6 DOF, which rely on haptic technology to provide sim racers with a lifelike experience. These platforms simulate the physical sensations of acceleration, deceleration, and lateral forces encountered by drivers in real vehicles. The upcoming generation of motion platforms promises to elevate immersion levels, incorporating features like G-Force simulation, where the platform tilts to mimic lateral g-forces pushing the driver against the seat, and responsive pitch adjustments during hard braking. These next-generation motion platforms offer compelling benefits for racing enthusiasts and professionals. They are poised to transform the racing simulation industry by delivering unparalleled realism and effective training solutions and unlock significant economic opportunities throughout the motorsport sector. Companies such as Next Level Racing and Trak Racer are at the forefront of developing these advanced motion platforms. Examples of racing simulators equipped with next-generation motion platforms include the APEX5R PRO and VEsaro V-Zero.

Challenges: Lack of Standardization and Technical Complexity

The major challenge for the racing simulator market is the lack of standards and benchmarks to develop and implement a simulation-based virtual environment. Unlike traditional gaming consoles, the racing simulator lacks standardized compatibility between components. This makes it difficult for users to mix and match equipment from different brands. Further, the development of the simulator necessitates meticulous design to align with the diverse technical specifications mandated by the other countries and regions where it will be deployed. This process can be complex, and the development cost can be high. In addition to this, the rapid evolution of technology in the gaming and simulation industry demands constant upgrades and improvements. Maintaining the latest hardware and software advancements can be challenging for manufacturers and consumers.

Market Ecosystem

The ecosystem analysis highlights various players in the racing simulator market ecosystem, primarily represented by manufacturers, component manufacturers (tier I)/technology providers, dealers & distributors, eSport organizers, Sponsors, and service centers.

Top Companies in Racing Simulator Market

The passenger car racing simulator market is estimated to hold the largest market for racing simulators.

The passenger cars segment will lead the racing simulator market during the forecast period. The demand for passenger car racing simulators is higher due to the growing number of car racing events, car racing championships, and virtual car racing events. Popular car racing events include NASCAR, Indycar Series, Canada Grand Prix, Nascar All-Star Open, GMR Grand Prix, and Formula 1. Further, Multiple racing events, such as Formula 1, NASCAR, Las Vegas Grand Prix, Formula Classic, and touring car championships, prominently feature passenger car models, contributing to the popularity of these vehicles in the virtual racing world. For instance, the Formula 1 series utilizes high-performance cars resembling modified versions of passenger cars, attracting a global user. The feel of driving major racing car models from McLaren Automotive, Ferrari, Porche, and BMW, virtually provides a thrilling experience. In addition, car racing has a broader and more established fan base globally, with numerous professional racing leagues and a rich history in motorsports. Thus, due to its universal appeal, representation in major racing events, advancement in simulator technologies with the inclusion of AI and virtual reality, and continuous evolution in virtual racing tournaments, passenger cars will likely maintain their dominant position in the racing simulator market.

Commercial application for racing simulators is projected to grow at the highest CAGR during the Forecast Period.

The commercial application of racing simulators is anticipated to grow fastest by 2030. Racing simulator for commercial use requires professional-grade setup at various applications such as professional racing training centers, simulator arcades, gaming lounges, esports competitions and gaming events, theme parks, and sports bars and restaurants. These systems usually feature high-end components, including advanced motion platforms, force-feedback steering wheels, and realistic pedal sets. Professional teams, drivers, and training institutes use these simulators for training and car development applications. Major automakers, such as Mercedes-Benz, Ford, Ferrari, Porsche, etc., have racing teams that utilize these machines to advance their racing skills. For instance, Red Bull Racing Esports has introduced a gaming facility for gaming excellence and an academy base to enhance the skills of the existing 12-member driver team. The facility is also strategically designed to operate as an academy hub, supporting upcoming talents in the sim racing world.

Similarly, Porsche Motorsport formed the Human Performance Center in Germany. The state-of-the-art facility comprises six advanced racing simulators and dedicated fitness and analysis zones. Additionally, mid-level to full-scale simulators are used for commercial usage such as entertainment, training, and skill development in diverse application areas since expensive racing simulators can be deployed with advanced features. Thus, catering to both professional drivers' and enthusiasts' requirements and increased deployment for entertainment purposes at various locations will likely boost the racing simulators for commercial application.

North America is expected to lead the market during the forecast period.

North America is set to account for the largest value for the racing simulator market by 2030. The US and Canada dominate this market with a rich car racing tradition and virtual racing events. Some popular racing car events in this region are World Rally championships, US Grand Prix (Formula 1), Canadian Grand Prix (Formula 1), Indianapolis 500 (IndyCar), NASCAR Cup Series, 24 Hours of Daytona, Petit Le Mans (IMSA WeatherTech SportsCar Championship), and Grand Prix de Trois-Rivières (NASCAR Pinty's Series). These racing events' appeals extend beyond demographics and attract the interest of younger and older enthusiasts. The high-speed action with cutting-edge technologies and vibrant atmosphere create a thrilling feel that users want to replicate using racing simulators. Racing simulators provide a platform for enthusiasts to engage with the sport firsthand, offering a realistic and interactive alternative. Due to this, the demand for compact simulators is progressive in the countries and will remain dominant in the future.

On the other hand, professional drivers spend a considerable amount on these simulators to practice and bolster their driving technique in a much safer environment. In line with the requirement, simulator developers and suppliers offer various types of simulators, keeping different racing teams in mind. Formula One simulators are explicitly designed to enjoy superfast speed and agility. Similarly, GT simulators provide the performance of ultra-fast sports vehicle cars. Oracle Red Bull Racing has collaborated with F1 Authentics to an official team-licensed Formula One simulator close to a real F1 car. This F1 simulator has been skillfully engineered and manufactured by Memento Exclusives in collaboration with the Oracle Red Bull Racing F1 team. These advanced simulators use a simulation seat fixed to a dynamic chassis and replicate a real car's movements, vibrations, and G-forces. Most of these full-scale simulators are compatible with key software offered by rFactor, Assetto Corsa, iRacing, and Project CARS. Adding an upsurge in virtual car sim racing tournaments has significantly augmented the growth of the racing simulator market. Major esports events like the eNASCAR Coca-Cola iRacing Series, where professional drivers compete in a virtual NASCAR league, have gained immense popularity.

Further, Formula One has an official esports series competition with significant cash rewards, and Canadian Motorsports Network's Canadian Sim Racing Series has gained traction in recent years. A robust sports ecosystem coupled with popular car racing Grand Prix events and esports virtual racing championships with substantial price money is anticipated to remain upheld and will uphold the development of the racing simulator market in the region. Companies such as CXC Simulation (US), D-Box Technologies, Inc. (Canada), Advanced SimRacing (US), Sim-Motion US (US), and SimXperience (IUS) have a strong presence in the region.

North America   A: Racing Simulator Market

North American Racing Simulator Market Size, and Share

Key Market Players

The racing simulator market is fragmented and dominated by several global and regional players. Some of the key players in the racing simulator market are CXC Simulation (US), Trak Racer (Australia), SIMXPERIENCE (US),  VEsaro (UK), and Vi-Grade GmbH (Germany). These companies have an extensive product range. They have adopted new product development strategies, acquisitions, contracts & partnerships to sustain their market position.

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Scope of the Report

Report Metric

Details

Market size available for years

2019–2030

Base year considered

2023

Forecast period

2024–2030

Forecast value

USD Million/USD Billion

Segments Covered

By simulator type, By offerings, By application, By sales channel, By vehicle type, by component type, and by region.

Geographies Covered

North America, Europe, Asia Pacific, and the Rest of the World

Companies Covered

CXC Simulations (US), Trak Racer (Australia), Next Level Racing (Australia), D-Box Technologies, Inc. (Canada), Vi-Grade GmbH (Germany), Cruden B.V. (Netherlands), AB Dynamics Plc (Ansible Motion Ltd) (UK), Cranfield Simulation (UK), Simxperience (UK), and Simworx Pty Ltd. (Australia)
A total of 31 companies covered

This study categorizes the racing simulator market based on simulator type, vehicle type, offering, sales channel, component, application, and region.

By Simulator Type
  • Compact/ Entry-Level Simulator
  • Medium-level Simulator
  • Full-Scale Simulator
By Vehicle Type
  • Passenger car
  • Commercial Vehicle
By Offering
  • Hardware
  • Software
By Component
  • Steering Wheel
  • Pedal Sets
  • Gearbox Shifters
  • Seats
  • Monitor Stand
  • Cockpits
  • Others
By Sales Channel
  • Online
  • Offline
By Application
  • Home/Personal Use
  • Commercial
By Region
  • Asia Pacific
  • Europe
  • North America
  • Rest of the World

Recent Developments

  • In November 2023, Next Level Racing introduced the all-new Next Level Racing GTRacer. This simulator cockpit is meticulously crafted to provide a captivating GT-style racing encounter, catering to the preferences of racing enthusiasts, all within a budget-friendly package.
  • In November 2023, VI-grade GmbH unveiled the DiM300 Driving Simulator, an enhanced edition of its widely praised DiM DYNAMIC Driving Simulator Technology. This state-of-the-art simulator signifies the most recent progression in VI-grade's line of extensive simulators, expanding upon the achievements of the award-winning DiM150 and DiM250 models.
  • In November 2023, D-Box Technologies, Inc. and Playseat B.V., design, and manufacturer of gaming gear for racing & flight simulation cockpits as well as game seats, formed a partnership to bring D-BOX's haptic technology to Playseat's sim racing chassis and flying simulation cockpits.
  • In November 2023, D-Box Technologies, Inc. and Advanced SimRacing design and simulation racing chassis manufacturer formed a strategic partnership to build a racing simulator with D-BOX's FIA-licensed haptic technology.
  • In September 2023, Next Level Racing unveiled the Next Level Racing Go Kart Plus racing simulator cockpit. Tailored for racers of all ages, the Next Level Racing Go Kart Plus provides an authentic go-kart racing experience while incorporating various innovative features and customization options.
  • In August 2022, D-Box Technologies, inc. launched its latest generation patented G5 haptic actuator system. The updated actuators have incorporated the controller box, resulting in significant space savings, and facilitating the effortless integration of D-BOX haptic technology into various devices for generating motion, texture, and vibrations.
  • In April 2022, CXC Simulations introduced the Tactical Driving Simulator, specifically designed for tactical driving and pursuit training purposes for federal law enforcement. The Tactical Driving Simulator utilizes the features of the Motion Pro II, such as an exclusive, full-motion, lightweight motion control system, Force-feedback steering wheel, Hydraulic braking system, Electric actuators, and Next-generation physics and graphics engines. The Tactical Driving Simulator employs software created by CXC Simulations specifically for tactical driving training. To ensure optimal effectiveness as a training tool, the simulator incorporates customized driving models with intricate physics for tires, weight balance, and precise crash and damage physics.

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 21)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           TABLE 1 RACING SIMULATOR MARKET DEFINITION, BY SIMULATOR TYPE
           TABLE 2 MARKET DEFINITION, BY COMPONENT
           1.2.1 INCLUSIONS AND EXCLUSIONS
                    TABLE 3 INCLUSIONS AND EXCLUSIONS
    1.3 MARKET SCOPE 
           FIGURE 1 MARKETS COVERED
           1.3.1 REGIONS COVERED
           1.3.2 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
           TABLE 4 CURRENCY EXCHANGE RATES
    1.5 STAKEHOLDERS 
 
2 RESEARCH METHODOLOGY (Page No. - 27)
    2.1 RESEARCH DATA 
           FIGURE 2 RACING SIMULATOR MARKET: RESEARCH DESIGN
           FIGURE 3 RESEARCH MODEL
           2.1.1 SECONDARY DATA
                    2.1.1.1 List of key secondary sources used to estimate base numbers and market size
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS
                    2.1.2.1 Sampling techniques & data collection methods
           2.1.3 PRIMARY PARTICIPANTS
    2.2 MARKET SIZE ESTIMATION 
           FIGURE 5 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
           2.2.1 TOP-DOWN APPROACH: MARKET
                    FIGURE 6 TOP-DOWN APPROACH: MARKET, BY SIMULATOR TYPE
    2.3 RECESSION IMPACT 
    2.4 MARKET BREAKDOWN AND DATA TRIANGULATION 
           FIGURE 7 DATA TRIANGULATION: MARKET
           2.4.1 GLOBAL ASSUMPTIONS
           2.4.2 RESEARCH ASSUMPTIONS
    2.5 RESEARCH LIMITATIONS 
 
3 EXECUTIVE SUMMARY (Page No. - 38)
    FIGURE 8 RACING SIMULATOR MARKET: MARKET OUTLOOK 
    FIGURE 9 MARKET, BY REGION, 2024 VS. 2030 (USD MILLION) 
 
4 PREMIUM INSIGHTS (Page No. - 42)
    4.1 ATTRACTIVE OPPORTUNITIES IN RACING SIMULATOR MARKET 
           FIGURE 10 INCREASING VIRTUAL SIM RACING EVENTS AND GROWING POPULARITY TO DRIVE MARKET
    4.2 MARKET, BY SIMULATOR TYPE 
           FIGURE 11 COMPACT/ENTRY-LEVEL SIMULATORS TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
    4.3 MARKET, BY OFFERING 
           FIGURE 12 HARDWARE SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
    4.4 MARKET, BY APPLICATION 
           FIGURE 13 SIMULATORS FOR HOME/PERSONAL USE TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD
    4.5 MARKET, BY SALES CHANNEL 
           FIGURE 14 SIMULATOR SALES FROM ONLINE CHANNEL TO DOMINATE MARKET DURING FORECAST PERIOD
    4.6 MARKET, BY COMPONENT TYPE 
           FIGURE 15 STEERING WHEEL SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
    4.7 MARKET, BY VEHICLE TYPE 
           FIGURE 16 PASSENGER CAR SEGMENT TO LEAD MARKET
    4.8 MARKET, BY REGION 
           FIGURE 17 NORTH AMERICA TO BE LARGEST MARKET DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 46)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 18 MARKET DYNAMICS: RACING SIMULATOR MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Growing number of motorsports racing events
                               TABLE 5 LIST OF PROMINENT SPORTCARS EVENTS, BY REGION
                    5.2.1.2 Growing number of Esport competitions with significant prize money
                               TABLE 6 LIST OF ESPORT RACING EVENTS, 2023−2024
           5.2.2 RESTRAINTS
                    5.2.2.1 High integration and switching cost
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Advancements in technologies such as AI, VR, and next-generation motion platforms
                               TABLE 7 LIST OF RACING SIMULATORS WITH 4 DOF, 5 DOF, AND 6 DOF
                    5.2.3.2 Increased demand for customized racing simulators
           5.2.4 CHALLENGES
                    5.2.4.1 Lack of standardization and technical complexity
    5.3 REVENUE SHIFT IN MARKET 
           FIGURE 19 REVENUE SHIFT AND NEW REVENUE POCKETS IN MARKET
    5.4 ECOSYSTEM ANALYSIS 
           FIGURE 20 MARKET: ECOSYSTEM MAPPING
           TABLE 8 MARKET: ROLE OF COMPANIES IN ECOSYSTEM
    5.5 SUPPLY CHAIN ANALYSIS 
           FIGURE 21 SUPPLY CHAIN ANALYSIS: MARKET
    5.6 TRADE ANALYSIS 
           5.6.1 IMPORT DATA
                    5.6.1.1 US
                               TABLE 9 US IMPORT: DRIVING SIMULATORS, BY COUNTRY
                    5.6.1.2 Canada
                               TABLE 10 CANADA IMPORT: DRIVING SIMULATORS, BY COUNTRY
                    5.6.1.3 China
                               TABLE 11 CHINA IMPORT: DRIVING SIMULATORS, BY COUNTRY
                    5.6.1.4 Japan
                               TABLE 12 JAPAN IMPORT: DRIVING SIMULATORS, BY COUNTRY
                    5.6.1.5 India
                               TABLE 13 INDIA IMPORT: DRIVING SIMULATORS, BY COUNTRY
                    5.6.1.6 Germany
                               TABLE 14 GERMANY IMPORT: DRIVING SIMULATORS, BY COUNTRY
                    5.6.1.7 France
                               TABLE 15 FRANCE IMPORT: DRIVING SIMULATORS, BY COUNTRY
                    5.6.1.8 Spain
                               TABLE 16 SPAIN IMPORT: DRIVING SIMULATORS, BY COUNTRY
                    5.6.1.9 UK
                               TABLE 17 UK IMPORT: DRIVING SIMULATORS, BY COUNTRY
           5.6.2 EXPORT DATA
                    5.6.2.1 US
                               TABLE 18 US EXPORT: DRIVING SIMULATOR, BY COUNTRY
                    5.6.2.2 Canada
                               TABLE 19 CANADA EXPORT: DRIVING SIMULATOR, BY COUNTRY
                    5.6.2.3 China
                               TABLE 20 CHINA EXPORT: DRIVING SIMULATOR, BY COUNTRY
                    5.6.2.4 Japan
                               TABLE 21 JAPAN EXPORT: DRIVING SIMULATOR, BY COUNTRY
                    5.6.2.5 India
                               TABLE 22 INDIA EXPORT: DRIVING SIMULATOR, BY COUNTRY
                    5.6.2.6 Germany
                               TABLE 23 GERMANY EXPORT: DRIVING SIMULATOR, BY COUNTRY
                    5.6.2.7 France
                               TABLE 24 FRANCE EXPORT: DRIVING SIMULATOR, BY COUNTRY
                    5.6.2.8 Spain
                               TABLE 25 SPAIN EXPORT: DRIVING SIMULATOR, BY COUNTRY
                    5.6.2.9 UK
                               TABLE 26 UK EXPORT: DRIVING SIMULATOR, BY COUNTRY
    5.7 PRICING ANALYSIS 
           TABLE 27 RACING SIMULATOR COMPONENT PRICE TREND, 2021 VS 2023P
           TABLE 28 BY SIMULATOR TYPE, 2021 VS 2023
    5.8 PATENT ANALYSIS 
    5.9 CASE STUDY 
           5.9.1 USE CASE 1: LAURENS VANTHOOR TRAINING CASE STUDY
           5.9.2 USE CASE 2: DEFENCE SCIENCE AND TECHNOLOGY ORGANISATION (DSTO), AUSTRALIA
           5.9.3 USE CASE 3: MOOG AND BPS DEVELOPED SIMULATOR MOTION BASE THAT PROVIDES AUTHENTIC DRIVING EXPERIENCES
           5.9.4 USE CASE 4: BASE PERFORMANCE SIMULATORS
           5.9.5 USE CASE 5: MAHINDRA AND VI-GRADE GMBH JOINTLY DEVELOPED VI-CARREALTIME MODELS WITHIN SIMULATOR
    5.10 RACING SIMULATOR MARKET: DETAILED LIST OF UPCOMING CONFERENCES & EVENTS 
    5.11 BUYING CRITERIA 
                    FIGURE 22 KEY BUYING CRITERIA FOR FULL-SCALE SIMULATOR VS COMPACT/ENTRY-LEVEL SIMULATOR
                    TABLE 29 KEY BUYING CRITERIA FOR FULL-SCALE SIMULATOR VS COMPACT/ENTRY-LEVEL SIMULATOR
    5.12 TECHNOLOGY TRENDS 
           5.12.1 ADVANCED PHYSICS ENGINES
           5.12.2 NEXT-GENERATION MOTION PLATFORMS
           5.12.3 VIRTUAL REALITY (VR)
    5.13 INSIGHTS ON SIM RACERS IN TERMS OF AGE & PERSON 
           5.13.1 YOUNG ENTHUSIASTS (UNDER 18 YEARS)
           5.13.2 YOUNG ADULTS (18-30 YEARS)
           5.13.3 ADULTS (30-50 YEARS)
           5.13.4 MATURE ENTHUSIASTS (ABOVE 50 YEARS)
 
6 RACING SIMULATOR MARKET, BY TYPE (Page No. - 75)
    6.1 INTRODUCTION 
           FIGURE 23 MARKET, BY TYPE, 2024 VS. 2030 (USD MILLION)
           TABLE 30 MARKET, BY TYPE, 2019–2023 (USD MILLION)
           TABLE 31 MARKET, BY TYPE, 2024–2030 (USD MILLION)
           6.1.1 INDUSTRY INSIGHTS
    6.2 COMPACT/ENTRY-LEVEL SIMULATOR 
           6.2.1 AFFORDABILITY AND SPACE EFFICIENCY TO DRIVE DEMAND IN HOME APPLICATION
                    TABLE 32 COMPACT/ENTRY-LEVEL: MARKET, BY REGION, 2019–2023 (USD MILLION)
                    TABLE 33 COMPACT/ENTRY-LEVEL: MARKET, BY REGION, 2024–2030 (USD MILLION)
    6.3 MID-LEVEL SIMULATOR 
           6.3.1 OFFERS BALANCED MIX OF REALISTIC FEATURES AND COST
                    TABLE 34 MID-LEVEL: MARKET, BY REGION, 2019–2023 (USD MILLION)
                    TABLE 35 MID-LEVEL: MARKET, BY REGION, 2024–2030 (USD MILLION)
    6.4 FULL-SCALE SIMULATOR 
           6.4.1 EUROPE TO BE LARGEST MARKET FOR FULL-SCALE SIMULATORS
                    TABLE 36 FULL-SCALE: MARKET, BY REGION, 2019–2023 (USD MILLION)
                    TABLE 37 FULL-SCALE: MARKET, BY REGION, 2024–2030 (USD MILLION)
 
7 RACING SIMULATOR MARKET, BY OFFERING (Page No. - 81)
    7.1 INTRODUCTION 
           FIGURE 24 MARKET, BY OFFERING, 2024 VS. 2030 (USD MILLION)
           TABLE 38 MARKET, BY OFFERING, 2019–2023 (USD MILLION)
                    TABLE 39 MARKET, BY OFFERING, 2024–2030 (USD MILLION)
           7.1.1 INDUSTRY INSIGHTS
    7.2 HARDWARE 
           7.2.1 GROWING INCLINATION TOWARDS REALISM AND PRECISION FUELING DEMAND
                    TABLE 40 HARDWARE: MARKET, BY REGION, 2019–2023 (USD MILLION)
                    TABLE 41 HARDWARE: MARKET, BY REGION, 2024–2030 (USD MILLION)
    7.3 SOFTWARE 
           7.3.1 ADVANCED CUSTOMIZATION OPTIONS AND ONGOING DEVELOPMENTS TO SUPPORT GROWTH
                    TABLE 42 SOFTWARE: MARKET, BY REGION, 2019–2023 (USD MILLION)
                    TABLE 43 SOFTWARE: MARKET, BY REGION, 2024–2030 (USD MILLION)
 
8 RACING SIMULATOR MARKET, BY VEHICLE TYPE (Page No. - 86)
    8.1 INTRODUCTION 
           FIGURE 25 MARKET, BY VEHICLE TYPE, 2024 VS. 2030 (USD MILLION)
           TABLE 44 MARKET, BY VEHICLE TYPE, 2019–2023 (USD MILLION)
           TABLE 45 MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
           8.1.1 INDUSTRY INSIGHTS
    8.2 PASSENGER CAR 
           8.2.1 GROWING VIRTUAL CAR RACING EVENTS AND REALISTIC INTERPRETATION OF ACTUAL RACING CONDITIONS TO DRIVE DEMAND
                    TABLE 46 PASSENGER CAR: MARKET, BY REGION, 2019–2023 (USD MILLION)
                    TABLE 47 PASSENGER CAR: MARKET, BY REGION, 2024–2030 (USD MILLION)
    8.3 COMMERCIAL VEHICLE 
           8.3.1 GROWING FANBASE FOR COMMERCIAL VEHICLE RACING AND RISING DEMAND AS REALISTIC TRAINING TOOL TO DRIVE GROWTH
                    TABLE 48 COMMERCIAL VEHICLE: MARKET, BY REGION, 2019–2023 (USD MILLION)
                    TABLE 49 COMMERCIAL VEHICLE: MARKET, BY REGION, 2024–2030 (USD MILLION)
 
9 RACING SIMULATOR MARKET, BY APPLICATION (Page No. - 91)
    9.1 INTRODUCTION 
           FIGURE 26 MARKET, BY APPLICATION, 2024 VS. 2030 (USD MILLION)
           TABLE 50 MARKET, BY APPLICATION, 2019–2023 (USD MILLION)
                    TABLE 51 MARKET, BY APPLICATION, 2024–2030 (USD MILLION)
           9.1.1 INDUSTRY INSIGHTS
    9.2 HOME/PERSONAL USE 
           9.2.1 COMPACT RACING SIMULATORS TO REMAIN PRIMARY CHOICE FOR HOME USE AND CASUAL RACING
                    TABLE 52 HOME/PERSONAL USE: MARKET, BY REGION, 2019–2023 (USD MILLION)
                    TABLE 53 HOME/PERSONAL USE: MARKET, BY REGION, 2024–2030 (USD MILLION)
    9.3 COMMERCIAL 
           9.3.1 PROFESSIONAL-GRADE SETUP PREFERRED FOR COMMERCIAL APPLICATION
                    TABLE 54 COMMERCIAL: MARKET, BY REGION, 2019–2023 (USD MILLION)
                    TABLE 55 COMMERCIAL: MARKET, BY REGION, 2024–2030 (USD MILLION)
 
10 RACING SIMULATOR MARKET, BY SALES CHANNEL (Page No. - 96)
     10.1 INTRODUCTION 
               FIGURE 27 RACING SIMULATORS MARKET, BY SALES CHANNEL, 2024 VS. 2030 (USD MILLION)
               TABLE 56 MARKET, BY SALES CHANNEL, 2019–2023 (USD MILLION)
               TABLE 57 MARKET, BY SALES CHANNEL, 2024–2030 (USD MILLION)
             10.1.1 INDUSTRY INSIGHTS
     10.2 ONLINE SALES 
             10.2.1 HIGHER FLEXIBILITY, EASY AVAILABILITY, AND WIDE VARIETY OF PRODUCTS TO DRIVE MARKET
                       TABLE 58 ONLINE: MARKET, BY REGION, 2019–2023 (USD MILLION)
                       TABLE 59 ONLINE: MARKET, BY REGION, 2024–2030 (USD MILLION)
     10.3 OFFLINE SALES 
             10.3.1 NORTH AMERICA TO BE LARGEST MARKET IN OFFLINE SALES SEGMENT
                       TABLE 60 OFFLINE: MARKET, BY REGION, 2019–2023 (USD MILLION)
                       TABLE 61 OFFLINE: MARKET, BY REGION, 2024–2030 (USD MILLION)
 
11 RACING SIMULATOR MARKET, BY COMPONENT TYPE (Page No. - 101)
     11.1 INTRODUCTION 
               FIGURE 28 MARKET, BY COMPONENT, 2024 VS. 2030 (USD MILLION)
               TABLE 62 MARKET, BY COMPONENT, 2019–2023 (USD MILLION)
               TABLE 63 MARKET, BY COMPONENT, 2024–2030 (USD MILLION)
             11.1.1 INDUSTRY INSIGHTS
     11.2 STEERING WHEEL 
             11.2.1 INCORPORATION OF FORCE FEEDBACK SYSTEM AND FEATURE BUTTONS TO DRIVE DEMAND FOR STEERING WHEELS
                       TABLE 64 STEERING WHEEL: MARKET, BY REGION, 2019–2023 (USD MILLION)
                       TABLE 65 STEERING WHEEL: MARKET, BY REGION, 2024–2030 (USD MILLION)
     11.3 PEDAL SETS 
             11.3.1 INCREASING DEMAND FOR RACING SIMULATORS WITH HYDRAULIC PEDALS FOR REALISTIC FEEL TO BOOST MARKET
                       TABLE 66 PEDAL SETS: MARKET, BY REGION, 2019–2023 (USD MILLION)
                       TABLE 67 PEDAL SETS: MARKET, BY REGION, 2024–2030 (USD MILLION)
     11.4 GEARBOX SHIFTER 
             11.4.1 GROWING PREFERENCE FOR MORE REALISTIC AND IMMERSIVE EXPERIENCE TO DRIVE DEMAND
                       TABLE 68 GEARBOX SHIFTER: MARKET, BY REGION, 2019–2023 (USD MILLION)
                       TABLE 69 GEARBOX SHIFTER: MARKET, BY REGION, 2024–2030 (USD MILLION)
     11.5 SEAT 
             11.5.1 INCREASING USE OF CUSTOMIZED SEATS TO BOOST DEMAND
                       TABLE 70 SEAT: MARKET, BY REGION, 2019–2023 (USD MILLION)
                       TABLE 71 SEAT: MARKET, BY REGION, 2024–2030 (USD MILLION)
     11.6 MONITOR STAND 
             11.6.1 INCREASING USE OF THREE DISPLAY SETUPS TO DRIVE MARKET
                       TABLE 72 MONITOR STAND: MARKET, BY REGION, 2019–2023 (USD MILLION)
                       TABLE 73 MONITOR STAND: MARKET, BY REGION, 2024–2030 (USD MILLION)
     11.7 COCKPIT 
             11.7.1 GROWING ADOPTION OF COCKPITS WITH SEAT MOUNTED TO DRIVE MARKET
                       TABLE 74 COCKPIT: MARKET, BY REGION, 2019–2023 (USD MILLION)
                       TABLE 75 COCKPIT: MARKET, BY REGION, 2024–2030 (USD MILLION)
     11.8 OTHER COMPONENTS 
             11.8.1 GROWING ADOPTION OF MOTION PLATFORMS AND SIM DASHBOARD IN RACING SIMULATOR TO DRIVE MARKET
                       TABLE 76 OTHER COMPONENTS: MARKET, BY REGION, 2019–2023 (USD MILLION)
                       TABLE 77 OTHER COMPONENTS: MARKET, BY REGION, 2024–2030 (USD MILLION)
 
12 RACING SIMULATOR MARKET, BY REGION (Page No. - 112)
     12.1 INTRODUCTION 
               FIGURE 29 MARKET, BY REGION, 2024 VS. 2030 (USD MILLION
               TABLE 78 MARKET, BY REGION, 2019–2023 (USD MILLION)
               TABLE 79 MARKET, BY REGION, 2024–2030 (USD MILLION)
             12.1.1 INDUSTRY INSIGHTS
     12.2 ASIA PACIFIC 
             12.2.1 ASIA PACIFIC: RECESSION IMPACT ANALYSIS
                       FIGURE 30 ASIA PACIFIC: MARKET SNAPSHOT
                       TABLE 80 ASIA PACIFIC: MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
                       TABLE 81 ASIA PACIFIC: MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
             12.2.2 CHINA
                       12.2.2.1 Presence of major racing simulator manufacturers to drive market
                                   TABLE 82 CHINA: MARKET, BY SIMULATOR TYPE, 2019–2023(USD MILLION)
                                   TABLE 83 CHINA: MARKET, BY SIMULATOR TYPE, 2024–2030 (USD MILLION)
             12.2.3 INDIA
                       12.2.3.1 Increasing accessibility to advanced gaming hardware and online gaming platforms to drive market
                                   TABLE 84 INDIA: MARKET, BY SIMULATOR TYPE, 2019–2023(USD MILLION)
                                   TABLE 85 INDIA: MARKET, BY SIMULATOR TYPE, 2024–2030 (USD MILLION)
             12.2.4 JAPAN
                       12.2.4.1 Booming racing community to drive market
                                   TABLE 86 JAPAN: MARKET, BY SIMULATOR TYPE, 2019–2023(USD MILLION)
                                   TABLE 87 JAPAN: MARKET, BY SIMULATOR TYPE, 2024–2030 (USD MILLION)
             12.2.5 SOUTH KOREA
                       12.2.5.1 Growing development of open racing simulator centers to drive market
                                   TABLE 88 SOUTH KOREA: MARKET, BY SIMULATOR TYPE, 2019–2023(USD MILLION)
                                   TABLE 89 SOUTH KOREA: MARKET, BY SIMULATOR TYPE, 2024–2030 (USD MILLION)
             12.2.6 AUSTRALIA
                       12.2.6.1 Surge in virtual championships and collaborative events to drive market
                                   TABLE 90 AUSTRALIA: MARKET, BY SIMULATOR TYPE, 2019–2023(USD MILLION)
                                   TABLE 91 AUSTRALIA: MARKET, BY SIMULATOR TYPE, 2024–2030 (USD MILLION)
     12.3 EUROPE 
             12.3.1 EUROPE: RECESSION IMPACT ANALYSIS
                       FIGURE 31 EUROPE: MARKET, BY COUNTRY, 2024 VS. 2030
                       TABLE 92 EUROPE: MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
                       TABLE 93 EUROPE: MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
             12.3.2 GERMANY
                       12.3.2.1 Favorable government initiatives to drive market
                                   TABLE 94 GERMANY: MARKET, BY SIMULATOR TYPE, 2019–2023(USD MILLION)
                                   TABLE 95 GERMANY: MARKET, BY SIMULATOR TYPE, 2024–2030 (USD MILLION)
             12.3.3 FRANCE
                       12.3.3.1 Growing interest in racing leagues and tournaments to drive market
                                   TABLE 96 FRANCE: MARKET, BY SIMULATOR TYPE, 2019–2023(USD MILLION)
                                   TABLE 97 FRANCE: MARKET, BY SIMULATOR TYPE, 2024–2030 (USD MILLION)
             12.3.4 SPAIN
                       12.3.4.1 Thriving gaming culture and annual events to drive market
                                   TABLE 98 SPAIN: MARKET, BY SIMULATOR TYPE, 2019–2023(USD MILLION)
                                   TABLE 99 SPAIN: MARKET, BY SIMULATOR TYPE, 2024–2030 (USD MILLION)
             12.3.5 ITALY
                       12.3.5.1 Growing focus on immersive virtual experiences to drive market
                                   TABLE 100 ITALY: MARKET, BY SIMULATOR TYPE, 2019–2023(USD MILLION)
                                   TABLE 101 ITALY: MARKET, BY SIMULATOR TYPE, 2024–2030 (USD MILLION)
             12.3.6 UK
                       12.3.6.1 Rising partnerships among racing simulator manufacturers to drive market
                                   TABLE 102 UK: MARKET, BY SIMULATOR TYPE, 2019–2023(USD MILLION)
                                   TABLE 103 UK: MARKET, BY SIMULATOR TYPE, 2024–2030 (USD MILLION)
             12.3.7 REST OF EUROPE
                       TABLE 104 REST OF EUROPE: MARKET, BY SIMULATOR TYPE, 2019–2023(USD MILLION)
                       TABLE 105 REST OF EUROPE: MARKET, BY SIMULATOR TYPE, 2024–2030 (USD MILLION)
     12.4 NORTH AMERICA 
             12.4.1 NORTH AMERICA: RECESSION IMPACT ANALYSIS
                       FIGURE 32 NORTH AMERICA: MARKET SNAPSHOT
                       TABLE 106 NORTH AMERICA: MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
                       TABLE 107 NORTH AMERICA: MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
             12.4.2 US
                       12.4.2.1 Growing sponsorships for virtual sim racing events from OEMs to drive market
                                   TABLE 108 US: MARKET, BY SIMULATOR TYPE, 2019–2023(USD MILLION)
                                   TABLE 109 US: MARKET, BY SIMULATOR TYPE, 2024–2030 (USD MILLION)
             12.4.3 CANADA
                       12.4.3.1 Rising trend of virtual racing engagements to drive market
                                   TABLE 110 CANADA: MARKET, BY SIMULATOR TYPE, 2019–2023(USD MILLION)
                                   TABLE 111 CANADA: MARKET, BY SIMULATOR TYPE, 2024–2030 (USD MILLION)
             12.4.4 MEXICO
                       12.4.4.1 Growing number of professional car racers to drive market
                                   TABLE 112 MEXICO: MARKET, BY SIMULATOR TYPE, 2019–2023(USD MILLION)
                                   TABLE 113 MEXICO: MARKET, BY SIMULATOR TYPE, 2024–2030 (USD MILLION)
     12.5 REST OF THE WORLD 
             12.5.1 REST OF THE WORLD: RECESSION IMPACT ANALYSIS
                       FIGURE 33 REST OF THE WORLD: MARKET, BY COUNTRY, 2024 VS. 2030 (USD MILLION)
                       TABLE 114 REST OF THE WORLD: MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
                       TABLE 115 REST OF THE WORLD: MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
             12.5.2 BRAZIL
                       12.5.2.1 Increasing accessibility of smartphones to drive market
                                   TABLE 116 BRAZIL: MARKET, BY SIMULATOR TYPE, 2019–2023(USD MILLION)
                                   TABLE 117 BRAZIL: MARKET, BY SIMULATOR TYPE, 2024–2030 (USD MILLION)
             12.5.3 ARGENTINA
                       12.5.3.1 Surge in e-motorsports events to drive market
                                   TABLE 118 ARGENTINA: MARKET, BY SIMULATOR TYPE, 2019–2023(USD MILLION)
                                   TABLE 119 ARGENTINA: MARKET, BY SIMULATOR TYPE, 2024–2030 (USD MILLION)
             12.5.4 UAE
                       12.5.4.1 Growing events hosted by Immersive Esports to drive market
                                   TABLE 120 UAE: MARKET, BY SIMULATOR TYPE, 2019–2023(USD MILLION)
                                   TABLE 121 UAE: MARKET, BY SIMULATOR TYPE, 2024–2030 (USD MILLION)
             12.5.5 OTHER COUNTRIES
                       TABLE 122 REST OF THE WORLD OTHERS: MARKET, BY SIMULATOR TYPE, 2019–2023(USD MILLION)
                       TABLE 123 REST OF THE WORLD OTHERS: MARKET, BY SIMULATOR TYPE, 2024–2030 (USD MILLION)
 
13 COMPETITIVE LANDSCAPE (Page No. - 139)
     13.1 OVERVIEW 
     13.2 KEY PLAYERS’ STRATEGIES 
               TABLE 124 KEY PLAYERS’ STRATEGIES, 2018–2022
     13.3 MARKET RANKING ANALYSIS 
               FIGURE 34 MARKET RANKING ANALYSIS, 2022
     13.4 REVENUE ANALYSIS 
               FIGURE 35 REVENUE ANALYSIS OF TOP FIVE PLAYERS, 2020–2022
     13.5 COMPANY EVALUATION MATRIX 
             13.5.1 STARS
             13.5.2 EMERGING LEADERS
             13.5.3 PERVASIVE PLAYERS
             13.5.4 PARTICIPANTS
                       FIGURE 36 COMPANY EVALUATION MATRIX, 2022
             13.5.5 COMPANY FOOTPRINT
                       TABLE 125 RACING SIMULATOR MARKET: COMPANY FOOTPRINT
                       TABLE 126 MARKET: APPLICATION FOOTPRINT
                       TABLE 127 MARKET: REGION FOOTPRINT
     13.6 COMPETITIVE SCENARIO 
             13.6.1 PRODUCT LAUNCHES
                       TABLE 128 RACING SIMULATION MARKET: PRODUCT LAUNCHES, AUGUST 2019–NOVEMBER 2023
             13.6.2 DEALS
                       TABLE 129 RACING SIMULATION MARKET: DEALS, MAY 2019–DECEMBER 2023
             13.6.3 EXPANSIONS
                       TABLE 130 RACING SIMULATION MARKET: EXPANSIONS, 2018–2022
     13.7 COMPANY VALUATION 
               FIGURE 37 COMPANY VALUATION, 2023 (USD MILLION)
     13.8 BRAND COMPARISON 
 
14 COMPANY PROFILES (Page No. - 156)
(Business overview, Products/Solutions/Services offered, Recent developments & MnM View)*
     14.1 KEY PLAYERS 
             14.1.1 CXC SIMULATIONS
                       TABLE 131 CXC SIMULATIONS: COMPANY OVERVIEW
                       TABLE 132 CXC SIMULATIONS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 133 CXC SIMULATIONS: PRODUCT LAUNCHES
             14.1.2 TRAK RACER
                       TABLE 134 TRAK RACER: COMPANY OVERVIEW
                       TABLE 135 TRAK RACER: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 136 TRAK RACER: DEALS
             14.1.3 NEXT LEVEL RACING
                       TABLE 137 NEXT LEVEL RACING: COMPANY OVERVIEW
                       TABLE 138 NEXT LEVEL RACING: PRODUCT LAUNCHES
                       TABLE 139 NEXT LEVEL RACING: DEALS
             14.1.4 VI-GRADE GMBH
                       TABLE 140 VI-GRADE GMBH: COMPANY OVERVIEW
                       TABLE 141 VI-GRADE GMBH: PRODUCT LAUNCHES
                       TABLE 142 VI-GRADE GMBH: DEALS
                       TABLE 143 VI-GRADE GMBH: EXPANSIONS
                       TABLE 144 VI-GRADE GMBH: OTHER DEVELOPMENTS
             14.1.5 D-BOX TECHNOLOGIES INC.
                       TABLE 145 D-BOX TECHNOLOGIES INC.: COMPANY OVERVIEW
                       FIGURE 38 D-BOX TECHNOLOGIES INC.: COMPANY SNAPSHOT
                       TABLE 146 D-BOX TECHNOLOGIES INC.: PRODUCT LAUNCHES
                       TABLE 147 D-BOX TECHNOLOGIES INC.: DEALS
             14.1.6 CRUDEN
                       TABLE 148 CRUDEN: COMPANY OVERVIEW
                       TABLE 149 CRUDEN: DEALS
                       TABLE 150 CRUDEN: EXPANSIONS
                       TABLE 151 CRUDEN: OTHER DEVELOPMENTS
             14.1.7 ANTHONY BEST DYNAMICS LIMITED
                       TABLE 152 ANTHONY BEST DYNAMICS LIMITED: COMPANY OVERVIEW
                       FIGURE 39 ANTHONY BEST DYNAMICS LIMITED: COMPANY SNAPSHOT
                       TABLE 153 ANTHONY BEST DYNAMICS LIMITED: DEALS
                       TABLE 154 ANTHONY BEST DYNAMICS LIMITED: EXPANSIONS
                       TABLE 155 ANTHONY BEST DYNAMICS LIMITED: OTHER DEVELOPMENTS
             14.1.8 CRANFIELD AEROSPACE SOLUTIONS
                       TABLE 156 CRANFIELD AEROSPACE SOLUTIONS: COMPANY OVERVIEW
                       TABLE 157 CRANFIELD AEROSPACE SOLUTIONS: DEALS
             14.1.9 SIMXPERIENCE
                       TABLE 158 SIMXPERIENCE: COMPANY OVERVIEW
                       TABLE 159 SIMXPERIENCE: PRODUCT LAUNCHES
             14.1.10 SIMWORX PTY LTD.
                       TABLE 160 SIMWORX PTY LTD: COMPANY OVERVIEW
*Details on Business overview, Products/Solutions/Services offered, Recent developments & MnM View might not be captured in case of unlisted companies.
     14.2 ADDITIONAL PLAYERS 
             14.2.1 RS SIMULATION
                       TABLE 161 RS SIMULATION: COMPANY OVERVIEW
             14.2.2 VESARO
                       TABLE 162 VESARO: COMPANY OVERVIEW
             14.2.3 VERTICAL REALITY SIMULATIONS, LLC
                       TABLE 163 VERTICAL REALITY SIMULATIONS, LLC: COMPANY OVERVIEW
             14.2.4 JCL SIMULATOR
                       TABLE 164 JCL SIMULATOR: COMPANY OVERVIEW
             14.2.5 FPZERO SIMULATORS
                       TABLE 165 FPZERO SIMULATORS: COMPANY OVERVIEW
             14.2.6 DOF REALITY MOTION SIMULATORS
                       TABLE 166 DOF REALITY MOTION SIMULATORS: COMPANY OVERVIEW
             14.2.7 ADVANCED SIMRACING
                       TABLE 167 ADVANCED SIMRACING: COMPANY OVERVIEW
             14.2.8 ECA GROUP
                       TABLE 168 ECA GROUP: COMPANY OVERVIEW
             14.2.9 MOTUM SIMULATION PTY LTD.
                       TABLE 169 MOTUM SIMULATION PTY LTD.: COMPANY OVERVIEW
             14.2.10 SIMCRAFT
                       TABLE 170 SIMCRAFT: COMPANY OVERVIEW
             14.2.11 PROFISIM S.R.O.
                       TABLE 171 PROFISIM S.R.O.: COMPANY OVERVIEW
             14.2.12 CKAS MECHATRONICS PTY LTD.
                       TABLE 172 CKAS MECHATRONICS PTY LTD.: COMPANY OVERVIEW
             14.2.13 PRS
                       TABLE 173 PRS: COMPANY OVERVIEW
             14.2.14 IMSIM
                       TABLE 174 IMSIM: COMPANY OVERVIEW
             14.2.15 SIMULATIONSTECHNIK LINGNAU GMBH
                       TABLE 175 SIMULATIONSTECHNIK LINGNAU GMBH: COMPANY OVERVIEW
             14.2.16 COOL PERFORMANCE
                       TABLE 176 COOL PERFORMANCE: COMPANY OVERVIEW
             14.2.17 MOZA RACING
                       TABLE 177 MOZA SIMRACING: COMPANY OVERVIEW
             14.2.18 PLAYSEAT
                       TABLE 178 PLAYSEAT: COMPANY OVERVIEW
             14.2.19 TECKNOTROVE
                       TABLE 179 TECKNOTROVE: COMPANY OVERVIEW
             14.2.20 FAAC INCORPORATED
                       TABLE 180 FAAC INCORPORATED: COMPANY OVERVIEW
             14.2.21 AVSIMULATION
                       TABLE 181 AVSIMULATION: COMPANY OVERVIEW
 
15 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 213)
     15.1 NORTH AMERICA AND ASIA PACIFIC TO BE POTENTIAL MARKETS FOR RACING SIMULATORS 
     15.2 RACING SIMULATORS TO FOCUS ON INTEGRATING ADVANCED SIMULATION TECHNOLOGIES 
     15.3 CONCLUSION 
 
16 APPENDIX (Page No. - 215)
     16.1 INSIGHTS OF INDUSTRY EXPERTS 
     16.2 DISCUSSION GUIDE 
     16.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     16.4 CUSTOMIZATION OPTIONS 
             16.4.1 RACING SIMULATOR MARKET, BY OFFERINGS & COUNTRY
                       16.4.1.1 Hardware
                       16.4.1.2 Software
             16.4.2 COMMERCIAL RACING SIMULATOR MARKET, BY APPLICATION
                       16.4.2.1 Training centers
                       16.4.2.2 Arcades
                       16.4.2.3 Malls & casinos
                       16.4.2.4 Others
     16.5 RELATED REPORTS 
     16.6 AUTHOR DETAILS 

The study involved four major activities in estimating the current size of the racing simulator market. Exhaustive secondary research was done to collect information on the market and its sub-segments. The next step was to validate these findings and assumptions and size them with industry experts across value chains through primary research. The top-down approach was employed to estimate the complete market size. After that, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources have been used to identify and collect information useful for an extensive commercial study of the racing simulator market. The secondary sources referred to in this research study include investor presentations and annual reports of Key market players, Racing Simulator Component Manufacturer Associations, Corporate Filings (such as annual reports, investor presentations, and financial statements), Trade, Business, and related Associations, Racing Simulator Manufacturers’ white papers/research papers, Racing Simulator Blogs/Articles/Magazines, Sim Racing Expo, Virtual Motorsports Racing League (VMRL), The National Training & Simulation Association (NTSA), International Sim Racing Association (ISRA), International Sim Racing Association (ISRA), Sim Racing Association Singapore,  Driving Simulation Association (DSA). Secondary data has been collected and analyzed to determine the overall market size, further validated by primary research.

Primary Research

In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included industry experts such as CXOs, vice presidents, directors from business development, marketing, product development/innovation teams, and related key executives from various key companies. Various system integrators, industry associations, independent consultants/industry veterans, and key opinion leaders were also interviewed.

Primary interviews have been conducted to gather insights such as market penetration of racing simulators by simulator type at the country level, by component, by offering, by vehicle type, by sales channel, and by application at the regional level. Data triangulation was then done with the information gathered from secondary research. Stakeholders from the demand and supply side have been interviewed to understand their views on the points mentioned above.

Primary interviews have been conducted with market experts from the demand and supply side across four major regions: North America, Europe, Asia Pacific, and the Rest of the World. Primary data has been collected through questionnaires, emails, and telephonic interviews. In canvassing primaries, we have strived to cover various departments within organizations, such as sales and operations, to provide a holistic viewpoint in our report.

After interacting with industry experts, we have also conducted brief sessions with highly experienced independent consultants to reinforce the findings from our primaries. This and the in-house subject matter experts’ opinions have led us to the conclusions described in the remainder of this report.

Racing Simulator  Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

A detailed market estimation approach was followed to estimate and validate the value of the racing simulator market and other dependent submarkets, as mentioned below:

  • Key players in the racing simulator market were identified through secondary research, and their global market shares were determined through primary and secondary research.
  • The research methodology included studying annual and quarterly financial reports, regulatory filings of major market players (public), and interviews with industry experts for detailed market insights.
  • All industry-level penetration rates, percentage shares, splits, and breakdowns for the racing simulator were determined using secondary sources and verified through primary sources.
  • All key macro indicators affecting the revenue growth of the market segments and subsegments have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the validated and verified quantitative and qualitative data.
  • The gathered market data was consolidated and added with detailed inputs, analyzed, and presented in this report.
  • Qualitative aspects such as market drivers, restraints, opportunities, and challenges have been considered while calculating and forecasting the market size.

Racing Simulator Market: Top-Down Approach

Racing Simulator  Market Top Down Approach

To know about the assumptions considered for the study, Request for Free Sample Report

Data Triangulation

After arriving at the overall market size, the market was split into several segments and sub-segments—using the market size estimation processes as explained above. Where applicable, data triangulation and market breakdown procedures were employed to complete the overall market engineering process and determine the exact statistics of each market segment and sub-segment. The data was triangulated by studying several factors and trends.

Market Definition:

Racing Simulator, often called sim racing, is a form of virtual motorsport where participants use realistic racing simulators to simulate the experience of driving real-world vehicles in a simulated environment. Sim racing involves using dedicated hardware, such as steering wheels, pedals, and sometimes motion platforms, and sophisticated simulation software replicating the physics, dynamics, and visuals of actual race cars and tracks. In the virtual world, participants can compete in various racing disciplines, including Formula 1, NASCAR, endurance racing, and more. Sim racing is valued for providing a realistic and immersive driving experience, allowing enthusiasts and professional drivers alike to hone their skills, compete in virtual championships, and experience the thrill of motorsports without the physical risks associated with real-world racing.

Key Stakeholders:

  • Sales Head
  • Marketing Head
  • Design Manager
  • R&D Head

Report Objectives

  • To define, segment, analyze, and forecast (2024–2030) the racing simulator market size in terms of value (USD million) based on:
    • By Simulator Type (Compact/Entry-level Simulator, Medium-level Simulator, and Full-Scale Simulator)
    • By Offering Type (Hardware and Software)
    • By Vehicle Type (Passenger car and Commercial Vehicle)
    • By Component Type (Steering Wheel, Gearbox Shifters, Seat, Pedal Sets, Monitor Stand, Cockpits, and Others )
    • By Sales Channel (Online and Offline)
    • By Application Type (Home/Personal use and Commercial)
    • By Region (North America, Europe, Asia Pacific, and the Rest of the World (RoW))
  • To analyze the recession's impact on the racing simulator market
  • To understand the market dynamics (drivers, restraints, opportunities, and challenges) of the racing simulator market
  • To study the following concerning the market
    • Supply Chain Analysis
    • Market Ecosystem
    • Technology Analysis
    • Trade Analysis
    • Case Study Analysis
    • Patent Analysis
    • Buying Criteria
  • To estimate the following with respect to the market
    • Average Price Analysis
    • Market Share Analysis
  • To analyze the competitive landscape and prepare a competitive evaluation quadrant for the global racing simulator market players.
  • To analyze recent developments, alliances, joint ventures, mergers & acquisitions, new product launches, and other activities conducted by key racing simulator market industry participants.

Available Customizations

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The following customization options are available for the report:

  • Racing Simulator Market, By Offerings, By Country
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Australia
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • UK
    • Europe Others
  • North America
    • US
    • Canada
    • Mexico
  • Rest of the World
    • Brazil
    • Argentina
    • UAE
    • Rest of the World Others
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Report Code
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Published ON
Feb, 2024
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