Simulation Games Market: Current Analysis and Forecast (2021-2027)
$3999 – $6999
Emphasis on Component (Hardware, Software); Game type (Fighting, Racing, Shooting, Others); End-use (Residential and Commercial), Region/ Country
The global Simulation games market is expected to grow at a CAGR of 14% during the forecast period. Owing to the global simulation game market is primarily driven by the growing demand for live gaming experiences across the globe. Moreover, changing trends and growing developments in gaming and the technology industry is likely to fuel the growth of the simulation game market in the near future. Rising demand for simulation games in the education industry is also another driving factor that is expected to boom the market size during the next few years. Furthermore, the demand for gaming simulators is growing as gamers increasingly prefer immersive and realistic games. Gaming simulators hold the potential to cater to these changing preferences of gamers. At the same time, new platforms are also being launched to introduce new and innovative games. This is prompting the market players to develop advanced gaming simulators.
Insights Presented in the Report
“Amongst components, the hardware category accounted for the majority share in the market in 2020”
Based on component, the market is segmented into hardware and software. The hardware segment is expected to grab major market share owing to the growing popularity of virtual reality headsets that help improve the gaming experience, that will allow players on the market to develop advanced gaming simulator hardware.
“Amongst game type, the racing game segment is expected to witness the highest CAGR during the forecast period”
Based on game type, the market is segmented into shooting, fighting, racing, and others. The racing game segment is expected to dominate the market in the forthcoming years. The segment is uplifting on account of the growing adoption of virtual training solutions for racing drivers to improve their driving skills. Furthermore, advances in visualization with multi-screen displays and VR-enabled displays will also play a key role in driving the demand for racing simulators.
“Amongst end-use, the residential segment is expected to witness the highest CAGR during the forecast period”
Based on end-use, the market is segmented into residential and commercial. The residential segment dominated the simulation games market in 2020. Increasing demand for advanced gaming simulators for a better gaming experience is expected to drive the growth of the residential segment over the forecast period. Improving the gaming experience by introducing features such as gesture-based games and high-quality graphics is also expected to contribute to the growth of the housing sector.
“North America to witness significant growth during the forecast period”
The North America market is expected to dominate the simulation games market. The region is home to major market players. Also, the introduction of racing platforms at various theaters in North America to support motorsports and e-sports is also anticipated to drive the demand for gaming simulators in the region. The growing popularity of online games and the availability of custom-made gaming simulators are further expected to propel the growth of the regional market. Changing consumer trends, such as the rising preference for simulator-based video games as compared to other entertainment platforms, also bodes well for the growth of the North American regional market.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|Currency used in Report
|Research Process of the Simulation Games Market
|Research Methodology of the Simulation Games Market
|Main Objective of the Simulation Games Market Study
|GLOBAL SIMULATION GAMES MARKET REVENUE (USD BN), 2019-2027F
|Rest of north America
|Rest of Europe
|Rest of Asia-Pacific
|Rest of the World
|SIMULATION GAMES MARKET OPPORTUNITIES
|SIMULATION GAMES MARKET TRENDS
|Demand Side Analysis
|Supply Side Analysis
|VALUE CHAIN ANALYSIS
|Porter’s Five Forces Analysis
|D-Box Technologies Inc.
|Schlemmer & Company Inc.
|Play Seat B.V.
|Sony Interactive Entertainment Inc.
Research Methodology for The Global Simulation Games Market Analysis (2021-2027)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global simulation games market were the three major steps undertaken to create and analyze the adoption of simulation games in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global simulation games market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Simulation games market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Simulation games market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as component, game type, and end-use. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Simulation games market. Further, we conducted factor analysis using dependent and independent variables such as various components, game type, and end-use of simulation games. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Simulation games market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Simulation games market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach were applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Simulation games market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Simulation games market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global simulation games market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the component, game type, and end-use in the global Simulation games market.
The main objective of the global Simulation games market study
The current & future market trends of the global Simulation games market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Simulation games market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the component, game type, and end-use.
- Define and analysis of the regulatory framework for the Simulation games market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the Simulation games market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the world.
- Company profiles of the Simulation games market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry