On November 8th, a new study was released by Allied Research Market. According to this report, the global gaming simulation market will go from $4.86 billion in 2020 to $20.76 billion by 2030. This means that the sector will register a compound annual growth rate of 15.2% between 2021 and 2030.
“Adoption of gaming simulation for training and analysis in various industries, surge in demand for VR headsets, and acceptance of 360-degree cameras as next-generation technology across different developing nations drive the growth of the global gaming simulation market,” the report reads. “However, security and privacy issues and the high cost of VR headsets restrain the market growth. On the other hand, the adoption of AI and cloud computing for enhanced experience and collaboration between the entertainment industry and gaming simulator companies creates new opportunities in the coming years.”
The racing segment of the market contributed the most money in 2020, making up almost 60% of the global gaming simulation industry. This portion of the market will reportedly continue to lead the sector throughout this forecast period.
North America generated the most money in the global gaming simulation industry in 2020, making roughly 40% of the market. Meanwhile, the APAC (Asia-Pacific) region will register the highest CAGR between now and 2030 (16.3%).
(All information was provided by Globenewswire)
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