Racing Simulator Market

Leading Companies in Racing Simulator Industry - CXC Simulations (US), Trak Racer (Australia) and Vi-Grade GmbH (Germany)

The racing simulator market is estimated 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 base year for the report is 2023, and the forecast period is 2024 to 2030.

The market is expected to witness rapid growth with the rapid advancement of technology and the growing popularity of eSport events in countries such as North America, and Europe and developing countries like China, India, Brazil, etc. Also, the popularity of racing simulators is seeing a boost due to the accessibility of racing simulators to a wider audience as players can experience high-quality racing simulation while being in the comfort of their homes. Further, the growing racing communities and competition are driving the market as simulation racing provides a platform for racing enthusiasts to connect with like-minded individuals from around the world. Online multiplayer modes allow players to compete in races, leagues, and championships, fostering a vibrant and competitive community.

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The racing simulator market is dominated by established players such as CXC Simulations (US), Simxperience (US), Trak Racer (Australia), Vi-Grade GmbH (Germany), and VEsaro (UK). These companies focus on developing new products, adopting expansion strategies, and undertaking collaborations, partnerships, and mergers & acquisitions to gain traction in this growing racing simulator market.

CXC Simulations is engaged in the design and manufacturing of entry-level racing simulators to advanced racing simulators. CXC Simulations offers a full-motion simulator globally. The company manufactures simulators for both personal and commercial purposes. These simulators can be customized according to the demand of the customer. One of its products, the Motion Pro II, functions as a comprehensive motion simulator that translates virtual movements and forces from games into physical feedback for the user. This includes movements like tilting, swaying, and experiencing g-forces. The company has an emphasis on new product development and R&D. For instance, in 2022, the company launched a new product called the Tactile Driving simulator created for pursuit training and tactical driving for federal law enforcers. It uses various features such as a force feedback steering wheel, electric actuators, and next-generation physics engines. CXC Simulations have a presence in major regions such as North America, Europe, and Asia Pacific. Its major customers include Andretti, Henry Ford, and Porsche designs.

Trak Racer designs and develops innovative high-end gaming platforms and accessories. The company manufactures its racing simulators from premium materials, known for their durability which ensures customer satisfaction. The company’s racing simulators are compatible with console and PC platforms, accommodating a wide range of game peripherals. With in-depth research in real-world motorsports racing and game simulation, Trak Racer recognizes the significance of design, cutting-edge engineering, and the essential elements necessary to provide a competitive edge. The company has a strong focus on strategic partnership and collaboration to increase its product portfolio and geographical presence. For instance, In December 2022, Trak Racer and D-BOX technologies partnered to integrate high-quality chassis with haptic technology including G5 actuators which provide realism to sim racers. This partnership helps the Trak Racer to reach the customers of D-BOX Technologies as well.

Vi-Grade GmbH is engaged in the design and manufacturing of racing as well as driving simulators which accelerates the product development process in the transportation sector. The company offers a comprehensive range of simulators such as compact static deskside options and expansive driver-in-the-loop dynamic simulators. This diverse portfolio empowers OEMs, suppliers, research centers, motorsports teams, and universities to reduce dependence on physical prototypes and expedite innovation. The company offers a complete turnkey solution of simulators including proprietary software, hardware, services, and a flexible framework for customization. The company has technical centers in Italy, the UK, Japan, China, and the US. The company has more than 10 channel partners worldwide to distribute its products. VI-grade GmbH has a strong emphasis on new product development. From 2020 to 2023, the company has launched five new products related to simulation. Continuing to focus on new product development and research activities helps the company create a diversified product range for customers from different industries. The company also emphasizes strategic collaboration to increase its product penetration across different industries. In September 2022, vi-grade GmbH and Stackpole Engineering Services partnered to enhance the R&D initiatives of both companies in the domains of tire testing, tire modeling, and simulation applications.

Related Reports:

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

Contact:
Mr. Aashish Mehra
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Racing Simulator Market Size,  Share & Growth Report
Report Code
AT 8950
RI Published ON
2/20/2024
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