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Global Racing Simulator Market Forecast to 2030 with CXC Simulation, D-Box Technologies, Trak Racer, Next Level Racing, SIMXPERIENCE, Vi-Grade, Cruden, and Simworx DominatingDUBLIN, March 19, 2024 /PRNewswire/ -- The "Global 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 - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.  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% The study includes an in-depth competitive analysis of these key players in the racing simulator market with their company profiles, MnM view of the top five companies, recent developments, and key market strategies. The demand for racing simulators is growing owing to the growing preference for esports events worldwide, the rising focus of the motorsport association on conducting virtual sim racing events, and the increasing popularity of racing simulators for entertainment purposes, which will further drive the demand. People from countries like India, China, Brazil, Mexico, and Argentina are also attracted to racing simulators to use as training tools for professional racers. However, the high integration and switching costs can hinder market growth, especially in developing countries. The racing simulator market is led by established players such as CXC Simulation (US), D-Box Technologies, Inc. (Canada), Trak Racer (Australia), Next Level Racing (Australia), SIMXPERIENCE (US), Vi-Grade GmbH (Germany), Cruden B.V. (Netherlands), and Simworx Pty Ltd (Australia). Furthermore, online retailers often offer exclusive deals, discounts, and bundle packages, making online purchases more cost-effective. Currently, many racing simulator companies target potential customers through online sales channels to reach a wide range of audiences, which helps establish a direct connection with consumers and reduces distribution and inventory costs. This helps racing simulator suppliers reduce the overhead cost associated with rent, utilities, and staffing, among others, and enables them to offer competitive pricing and improved profit margins. Full-scale racing simulators provide high-fidelity graphics, accurate vehicle dynamics, and realistic motion feedback that recreate the closest approximation to actual racing conditions. Further, Virtual reality (VR) headsets provide a captivating visual experience, allowing users to feel thoroughly fascinated within the racing environment. It is costlier than the other two categories, increasingly adopted by professional racing training centers for aspiring racing car drivers, and preferred by dedicated professional racers who want to experience different driving styles. These simulators replicate authentic driving conditions, offering a valuable tool for honing skills, practicing race strategies, and improving overall performance. CXC Simulation, Cool Performance, Trak Racer, and Vi-Grade GmbH are some key suppliers of full-scale racing simulators globally. For instance, CXC simulation offers a full-scale racing simulator called MOTION Pro II which comes with a VR set, motion platforms, and 4 Degree of Freedom costs around USD 75,000. Further, the rising use of these full-scale racing simulators in developing countries such as China, India, and Brazil by professional racing drivers for practice is expected to drive the demand for full-scale simulators. In addition to this, the growing demand for online gaming, and increasing playstations is expected to drive the demand for full-scale racing simulators. Thus, the rising number of professional racers and their demand for realistic and lifelike racing simulators is expected to drive full-scale racing simulators in the coming years. The growth of esports and the prevalence of motorsport racing events like Formula 1 (like the British Grand Prix and the Italian Grand Prix), Le Mans Virtual Series, and various touring car championships further expand the racing simulator market. The enthusiasm for motorsports in Europe extends to a demand for racing simulators as users seek to replicate the thrill of their favorite races at home. Additionally, the prevalence of professional racing teams and training centers for professional driver development programs contributes to the regional growth of racing simulators. Numerous European OEMs, such as the BMW Group, Mercedes-Benz, Ferrari, and Porsche, actively participate in motorsport racing events. These companies are focusing on providing virtual training to their racing teams. For instance, BMW Motorsport and BMW M presented the new BMW M2 CS Racing LIVE 2019 public debut during the BMW SIM. Thus, higher consumer demand for personalized entertainment solutions, growing esports events, rising professional car racers, and initiatives by major sports car manufacturers to support young racing enthusiasts are driving the European racing simulator market. The report provides insights on the following pointers:
Companies Featured
For more information about this report visit https://www.researchandmarkets.com/r/80xvyq About ResearchAndMarkets.com Media Contact: Research and Markets Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg SOURCE Research and Markets 
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