According to a comprehensive research report by Market Research Future (MRFR), “Racing Games Market Information By Type, By Application, By Region – Forecast till 2030”, market size is projected to grow at 11.6% CAGR over the forecast period (2022-2030).
Racing games are a popular medium of games owing to penchant for car games and improvement in graphics and sound quality. The report on the global racing games market by Market Research Future (MRFR) reveals brand new insights for the industry for the forecast period (2022-2030). Changing user behavior, evolution of games, and effects of the COVID-19 pandemic on the market value are discussed in high detail.
|Revenue Forecast in 2030||USD 13.64 Billion|
|Growth Rate:||CAGR of 11.6% from 2022 to 2030|
|Forecast Period:||2022 -2030|
|Report Coverage:||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
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APAC to Have Favorable Growth in Racing Games Market
APAC is expected to possess the fastest growth rate throughout the predicted time frame because of the comfort offered to e-sports and the large client base in China and India. The trend toward racing games, as well as restrictions on arcades and PC bistros, has resulted in the acceptance of gaming via private PCs and work places. The distribution of various in-house games using web-based media stages and other portable applications to communicate with clients might be beneficial to the market. Because of the encouragement given to e-sports and the enormous customer base in China and India, APAC is likely to grow at the quickest rate over the forecast period. The trend for racing games, combined with the prohibition of arcades and computer cafés, has resulted in gaming access via personal computers. The introduction of various in-house games by social media platforms and other mobile applications to engage customers can be beneficial to the market. Asia-Pacific dominates the racing games market due to the rise of next-generation gaming, an increase in the number of professional and casual gamers, an increase in disposable income, an increase in the young population, and an increase in research and development efforts in this region.
North America to Head Racing Games Market
In the racing games market, North America is the dominant regional participant. It has a larger market share for Racing Games. It outperforms other markets in terms of growth and investment. Some players have a strong preference for racing games. There are also fewer cost obstacles in the market. Premium games are more popular with end consumers. The substantial capital income encourages the use of premium memberships. The availability of talented developers results in positive developments. Every year, thousands of racing apps are released. The advent of E-sports will allow greater room for expansion. North America is likely to contribute to the global racing games industry as a result of the existence of well-known game companies and the distribution of free downloadable content to entice gamers. The use of in-house conversations in group games, as well as the importance of AR and VR games, can boost market development. North America is the predicted region for growth in the racing games market due to an increase in the number of professional and casual gamers, an increase in disposable money, and an increase in the region’s young population.
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Client Type Games to Dominate Market Share
By type, it is divided into client type and webgame type. The client type games segment can exhibit 11.3% CAGR over the forecast period owing to availability of high-speed internet and large number of users. Rise of simulated racing games and periodic updates of new maps to keep users engaged can drive the segment growth.
Mobile Application to Lead in Market Share
By application, the market caters to console, racing simulator, mobile, and PC. Mobile racing games are likely to be
highly popular among gamers owing to easy access to smartphones and availability of various options due to application stores on prominent platforms. Adherence to physics and likeness to racing sports can propel the user numbers by a large extent.
The global racing games market has been segmented based on applications and type. On the basis of type, the market for racing games is segmented based on client type, webgame type. Additionally, the market on the basis of application, is segmented into racing simulators, pc, mobile, consoles.
Factors like growing interest in competitive game development and emergence of next-generation gaming support the racing games market growth. The performance of the racing games market has also been studied for the past and current years. Additionally, the racing games market report provides analysis of these segments. The racing games market segmental analysis provided in the report offers major details about the racing games market performance and future.
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September 2021, the global market for racing games was experiencing significant growth, with an expected compound annual growth rate of 11.6% between 2022 and 2030. The increasing popularity of esports and the availability of virtual reality technology were cited as key drivers of this growth.
One major trend in the industry was the move towards mobile gaming, as more and more consumers preferred to play games on their smartphones and tablets. However, console and PC gaming remained popular as well, especially for more serious gamers who wanted a more immersive experience.
Another notable trend was the emphasis on realism in racing games, with developers using advanced graphics and physics engines to create more authentic racing experiences. This trend was expected to continue as technology continued to advance.
Finally, the COVID-19 pandemic had a significant impact on the racing games market, with many consumers turning to gaming as a form of entertainment while stuck at home. This led to increased sales and engagement in the industry, which was expected to continue even after the pandemic subsided.
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