North America Racing Simulator Market Size, Share & Trends Analysis Report By Offering (Hardware, and Software), By Simulator Type, By Vehicle Type, By Sales Channel, By Application, By Component, By Country and Growth Forecast, 2023 - 2030
The North America Racing Simulator Market would witness market growth of 14.6% CAGR during the forecast period (2023-2030).
The US market dominated the North America Racing Simulator Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $276 Million by 2030. The Canada market is experiencing a CAGR of 17.1% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 16.1% during (2023 - 2030).
The primary and most well-known use of racing simulators is in the gaming industry. For example, as per National Library of Medicine, the latest e-sports statistics reveal that the industry generated more than USD1 billion in sales in 2019. These simulators offer an immersive and realistic experience, allowing gamers to simulate high-speed races, compete against virtual opponents, and explore a variety of tracks and vehicles. The rise of esports has led to the establishment of virtual racing leagues and competitions. Racing simulators are the foundation for competitive esports events, attracting professional gamers and providing a platform for virtual racing tournaments.
Moreover, automotive manufacturers use racing simulators for virtual prototyping and testing of vehicle designs. Simulators allow engineers to assess and refine vehicle dynamics, aerodynamics, and performance characteristics before building physical prototypes, reducing development costs and time. Racing simulators provide a controlled environment to test and optimize individual vehicle components, from engines to suspension systems. This iterative testing process helps manufacturers fine-tune their vehicles for optimal performance.
According to the International Trade Administration, in 2022, there were more than 27 million e-commerce users in Canada or 75% of the population. This percentage is anticipated to reach 77.6% by 2025. Retail eCommerce sales in Canada are rising due to increased online shoppers. E-commerce sales were estimated to be around US$2.34 billion in March 2022. The integration of racing simulators with motorsports entertainment has contributed to the popularity of racing events in Mexico. Hence, the factors mentioned above will drive the regional market growth.
Based on Offering, the market is segmented into Hardware, and Software. Based on Simulator Type, the market is segmented into Compact/ Entry-Level Simulator, Medium-level Simulator, and Full-Scale Simulator. Based on Vehicle Type, the market is segmented into Passenger Car, and Commercial Vehicle. Based on Sales Channel, the market is segmented into Online, and Offline. Based on Application, the market is segmented into Home/Personal Use, and Commercial. Based on Component, the market is segmented into Steering Wheel, Pedal Sets, Monitor Stand, Cockpits, Seats, Gearbox Shifters, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- CXC Simulations
- D-BOX Technologies, Inc.
- Vesaro Limited
- Cruden B.V.
- ECA Group (Exail Technologies)
- Trak Racer
- Next Level Racing Simulations PTY LTD
- VI-grade GmbH (Spectris plc)
- Anthony Best Dynamics Limited
- Cranfield Aerospace Solutions
By Offering
- Hardware
- Software
- Compact/ Entry-Level Simulator
- Medium-level Simulator
- Full-Scale Simulator
- Passenger Car
- Commercial Vehicle
- Online
- Offline
- Home/Personal Use
- Commercial
- Steering Wheel
- Pedal Sets
- Monitor Stand
- Cockpits
- Seats
- Gearbox Shifters
- Others
- US
- Canada
- Mexico
- Rest of North America
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Racing Simulator Market, by Offering
- 1.4.2 North America Racing Simulator Market, by Simulator Type
- 1.4.3 North America Racing Simulator Market, by Vehicle Type
- 1.4.4 North America Racing Simulator Market, by Sales Channel
- 1.4.5 North America Racing Simulator Market, by Application
- 1.4.6 North America Racing Simulator Market, by Component
- 1.4.7 North America Racing Simulator Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Opportunities
- 3.2.3 Market Restraints
- 3.2.4 Market Challenges
- 3.3 Porter’s Five Forces Analysis
- Chapter 4. Recent Strategies Deployed in Racing Simulator Market
- Chapter 5. North America Racing Simulator Market by Offering
- 5.1 North America Hardware Market by Region
- 5.2 North America Software Market by Region
- Chapter 6. North America Racing Simulator Market by Simulator Type
- 6.1 North America Compact/ Entry-Level Simulator Market by Country
- 6.2 North America Medium-level Simulator Market by Country
- 6.3 North America Full-Scale Simulator Market by Country
- Chapter 7. North America Racing Simulator Market by Vehicle Type
- 7.1 North America Passenger Car Market by Country
- 7.2 North America Commercial Vehicle Market by Country
- Chapter 8. North America Racing Simulator Market by Sales Channel
- 8.1 North America Online Market by Country
- 8.2 North America Offline Market by Country
- Chapter 9. North America Racing Simulator Market by Application
- 9.1 North America Home/Personal Use Market by Country
- 9.2 North America Commercial Market by Country
- Chapter 10. North America Racing Simulator Market by Component
- 10.1 North America Steering Wheel Market by Country
- 10.2 North America Pedal Sets Market by Country
- 10.3 North America Monitor Stand Market by Country
- 10.4 North America Cockpits Market by Country
- 10.5 North America Seats Market by Country
- 10.6 North America Gearbox Shifters Market by Country
- 10.7 North America Others Market by Country
- Chapter 11. North America Racing Simulator Market by Country
- 11.1 US Racing Simulator Market
- 11.1.1 US Racing Simulator Market by Offering
- 11.1.2 US Racing Simulator Market by Simulator Type
- 11.1.3 US Racing Simulator Market by Vehicle Type
- 11.1.4 US Racing Simulator Market by Sales Channel
- 11.1.5 US Racing Simulator Market by Application
- 11.1.6 US Racing Simulator Market by Component
- 11.2 Canada Racing Simulator Market
- 11.2.1 Canada Racing Simulator Market by Offering
- 11.2.2 Canada Racing Simulator Market by Simulator Type
- 11.2.3 Canada Racing Simulator Market by Vehicle Type
- 11.2.4 Canada Racing Simulator Market by Sales Channel
- 11.2.5 Canada Racing Simulator Market by Application
- 11.2.6 Canada Racing Simulator Market by Component
- 11.3 Mexico Racing Simulator Market
- 11.3.1 Mexico Racing Simulator Market by Offering
- 11.3.2 Mexico Racing Simulator Market by Simulator Type
- 11.3.3 Mexico Racing Simulator Market by Vehicle Type
- 11.3.4 Mexico Racing Simulator Market by Sales Channel
- 11.3.5 Mexico Racing Simulator Market by Application
- 11.3.6 Mexico Racing Simulator Market by Component
- 11.4 Rest of North America Racing Simulator Market
- 11.4.1 Rest of North America Racing Simulator Market by Offering
- 11.4.2 Rest of North America Racing Simulator Market by Simulator Type
- 11.4.3 Rest of North America Racing Simulator Market by Vehicle Type
- 11.4.4 Rest of North America Racing Simulator Market by Sales Channel
- 11.4.5 Rest of North America Racing Simulator Market by Application
- 11.4.6 Rest of North America Racing Simulator Market by Component
- Chapter 12. Company Profiles
- 12.1 CXC Simulations
- 12.1.1 Company Overview
- 12.1.2 SWOT Analysis
- 12.2 D-BOX Technologies, Inc.
- 12.2.1 Company Overview
- 12.2.2 Financial Analysis
- 12.2.3 Regional Analysis
- 12.2.4 Research & Development Expenses
- 12.2.5 Recent strategies and developments:
- 12.2.5.1 Partnerships, Collaborations, and Agreements:
- 12.2.6 SWOT Analysis
- 12.3 Vesaro Limited
- 12.3.1 Company Overview
- 12.3.2 Recent strategies and developments:
- 12.3.2.1 Partnerships, Collaborations, and Agreements:
- 12.3.3 SWOT Analysis
- 12.4 Cruden B.V.
- 12.4.1 Company Overview
- 12.4.2 Recent strategies and developments:
- 12.4.2.1 Partnerships, Collaborations, and Agreements:
- 12.4.3 SWOT Analysis
- 12.5 ECA Group (Exail Technologies)
- 12.5.1 Company Overview
- 12.5.2 Financial Analysis
- 12.5.3 Segmental and Regional Analysis
- 12.5.4 Research & Development Expenses
- 12.5.5 SWOT Analysis
- 12.6 Trak Racer
- 12.6.1 Company Overview
- 12.6.2 SWOT Analysis
- 12.7 Next Level Racing Simulations PTY LTD
- 12.7.1 Company Overview
- 12.7.2 Recent strategies and developments:
- 12.7.2.1 Product Launches and Product Expansions:
- 12.7.3 SWOT Analysis
- 12.8 VI-grade GmbH (Spectris plc)
- 12.8.1 Company Overview
- 12.8.2 Financial Analysis
- 12.8.3 Segmental and Regional Analysis
- 12.8.4 Recent strategies and developments:
- 12.8.4.1 Partnerships, Collaborations, and Agreements:
- 12.8.4.2 Product Launches and Product Expansions:
- 12.8.5 SWOT Analysis
- 12.9 Anthony Best Dynamics Limited
- 12.9.1 Company Overview
- 12.9.2 Recent strategies and developments:
- 12.9.2.1 Acquisition and Mergers:
- 12.9.3 SWOT Analysis
- 12.10. Cranfield Aerospace Solutions
- 12.10.1 Company Overview
- 12.10.2 SWOT Analysis
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