The gaming simulators market is expected to grow by USD 7.21 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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The gaming market is among the fastest-growing markets in terms of technology adoption and is the highest adopter of VR. VR creates an immersive environment for the gamer and enhances the gaming experience. It allows gamers to be completely involved in the game without getting distracted. VR headsets can act as a substitute for expensive LED screens. Moreover, with the growing penetration of VR headsets, consumers have become more aware of the functionality and usability of the headsets. Thus, gaming simulators are being integrated with VR headsets, which improves the comfort level of gamers while using VR headset for gaming. Thus, the integration of VR headsets is expected to drive the growth of the market.
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As per Technavio, the acceptance of 360-degree camera as next-generation technology in gaming simulator market 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 : Acceptance of 360-Degree Camera as Next-Generation Technology in Gaming Simulator Market
Technological advances in the global VR content market have led to the introduction of 360-degree videos. VR is considered to be a mainstream gaming platform in the entertainment domain and is making its way to various digital arenas. Moreover, the addition of a 360-degree field of vision to the VR headset enhances the QoE of the gaming simulator. Gamers not only get a front view but also a 360-degree view of the VR environment. With tech giants like Facebook launching its flagship VR device Oculus Rift, Sony launching Morpheus, and HTC launching Vive, VR integration with 360-degree content and gaming simulators will experience increased growth during the forecast period.
“Factors such as the growing use of gaming simulators for training, and the increase in physical activity while playing will have a positive impact on the growth of the gaming simulator market value 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), component (hardware and software), type (racing, shooting and flight), and geographic (APAC, Europe, MEA, North America and South America).
The North American region led the gaming simulators market in 2019, followed by Europe, APAC, South America, and MEA. During the forecast period, the North American region is expected to register the highest incremental growth due to factors such as the high average disposable income of the population, the popularity of e-sports driven by the availability of channels such as Twitch and YouTube and high acceptance for next-generation technologies.
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Some of the key topics covered in the report include:
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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