As per Market Research Future (MRFR), the global racing games market is expected to reach USD 16836.7 million, with a CAGR of 11.2% from 2017 to 2025 (forecast period). The report assesses the impact of the COVID-19 pandemic on the global racing games market and provides a realistic and holistic estimate of the potential volatility of demand over the forecast period.
A racing video game is a form of video game in which a player partakes in a racing competition with any type of land, water, air, or space vehicles. They may be built on anything from real-world racing leagues to entirely fantastical settings. Usually, they can be distributed along a spectrum anywhere among hardcore simulations and simpler arcade racing games.
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The market is powered by strong demand for driving simulators as the number of players keeps increasing. Also, the advent of next-generation gaming is another factor that stimulates the demand for racing games. In addition, the growing adoption of platform-specific racing wheels provides growth opportunities for racing game vendors. With the increase in the number of professional as well as casual gamers, the market for racing games is on the rise across the globe. According to Gamescom, the annual gaming trade show, the number of active players worldwide was recorded to be approximately 2.2 billion in 2018; 1.2 billion of these players are PC gamers. This figure is predicted to increase during the forecast period. Mobile players are growing in number due to the growing number of free games and the availability of affordable smartphones. Mobile gaming studios are now emphasizing on competitive game development in order to gain a strong position in the mobile gaming industry. Phenomenal racing games include Need for Speed: No Limits and Asphalt 9, one of the most downloaded games on Android and iOS platforms.
The Prominent Players operating in the Racing Games Market are Guillemot Corporation S.A (France), Logitech (Switzerland), Raceroom EntertainmenT AG (Switzerland), Nintendo (Japan), Microsoft Corporation (US), Electronic Arts Inc. (US), The Codemasters Software Company Limited (UK), Sparco SPA (Italy), SIMTECHPRO (Spain), Openwheeler (UK), Inracing (India), Villers Enterprises LTD (US), CXC Simulations (US), Sony Corporation (Japan), Next Level Racing (Australia) and PlaySeat (Netherlands).
The global racing games market has been segmented into type and application.
- By Type, the global racing games market has been segmented into client type and web game type. The client type segment held a larger market share of 96.9% in 2018, and it is expected to post a higher CAGR of 11.3% during the forecast period.
- By Application, the global racing games market has been segmented into mobile, PC, console, and racing simulators. The console segment is further divided into XBOX, PlayStation, and others. The mobile segment held the largest share in 2018 and is projected to register a CAGR of 11.4% during the assessment period. The PC segment held the second-largest position in 2018 and is likely to have a CAGR of 6.5%.
Detailed Regional Analysis
Region-wise, the global racing games market has been segmented into the Asia Pacific, North America, Europe, the Middle East & Africa, and South America.
The Asia Pacific was the largest racing game market in the year 2019 and is likely to stay in position in the forecast period. The Asia Pacific was segmented into China, India, Japan, and the rest of Asia Pacific.
North America is set to be one of the largest racing games markets in the forecast period. The region is one of the biggest markets for the gaming industry and has the involvement of a large number of significant players.
Europe has been segmented into Germany, the United Kingdom, France, and the rest of Europe. Europe is home to some of the most important game development studios in the world. Codemasters and Kunos Simulazioni are the major development studios for racing games in the region.
South American countries like Brazil, Argentina, and Colombia have an expanding gaming community. The rising adoption of mobile phones has led to an increase in the number of gamers in the region. In addition, the growth in affordable gaming hardware has expanded the number of PC and console players in the region.
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