Racing Games Market Overview:
The Racing Games market industry is projected to
grow from USD6.2 Billion in 2023 to USD 6.9192 billion by 2032, exhibitinga
compound annual growth rate (CAGR) of 11.60% during the forecast period (2023 -
2032). The global racing games market is driven by the rising number of
mobile gamers around the world and availability of affordable smartphones.
These factors have helped shape the racing games market and are expected to
boost the growth. Companies in the racing games market could also face
challenges such high consumption of internet data and platform-restrictions.
The details covered in the racing games market report cover all the aspects of
the industry. racing games market analysts have also shared growth projections
in the report and have suggested racing games market players to plan growth
strategies accordingly.
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Key Players:
Key Companies in the Racing
Games market include,
- Guillemot Corporation S.A
- Logitech
- The Code Masters Software Company Limited
- Nintendo
- RaceRoom Entertainment AG
- Sparco
- Electronic Arts Inc
- OpenWheeler
Market Segmentation:
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.
Regional Overview:
Companies in the racing games market are spread
across the world. The racing games market report provides major information
about regional markets of North America, Europe, Asia-Pacific (APAC), and the
rest of the world. The North American racing games market has many companies
across the United States, Canada, and Mexico. Europe has companies in the
racing games market across Germany, France, Spain, Italy, and the United
Kingdom. A detailed analysis of the racing games market across India, China,
and Japan in the Asia-Pacific region is also presented in the report. The
racing games market of the Middle East, Africa, and other regions has also been
studied by analysts. The regional analysis of the racing games market can be
found in the market research report.
Competitive Landscape:
The racing games market is supported by the launch
of new gaming devices and arrival of next-generation consoles. The population
growth around the world and increasing demand of racing games market based
services and products also support the market growth. However, the racing games
market growth can be affected due to high-cost of game streaming services and
decreasing support for backwards compatibility. The report covers all such
details which will help companies in the racing games market to strengthen
their business plan and improve their product portfolio. The racing games
market research report also provides company profiles of major companies. The
company profile of organizations operating in the racing games market discusses
strategies, growth plans, size, revenue, and mergers and acquisition details of
top companies in the racing games market. New entrants and established players
can plan their strategies based on this data provided in the racing games
market research report.
Industry News:
In the smartphone game business, Sweden MTG is
making a significant purchase. Hutch Games, a London based gaming studio behind
smartphone racing games like F1 Manager, Rebel Racing, and Top Drives is being
acquired by the group. This is a significant acquisition for MTG, as the
organisation pays 275 million dollars instantly and makes additional 100
million dollars for transactions that are dependent on results.
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Racing Games Industry Developments:
January 2023: Codemasters is acquired by
Electronic Arts for $1.2 billion.
February 2023: The Gran Turismo 7 racing game is
released for the PlayStation 4 and PlayStation 5.
March 2023: The Microsoft Flight Simulator
racing mod is released, allowing players to race cars on real-world airports.
April 2023: The Mario Kart 8 Deluxe Booster
Course Pass is released, adding 48 new tracks to the game.
May 2023: The Forza Horizon 5 Hot Wheels
expansion is released, adding a new open world area based on Hot Wheels tracks.
June 2023: The F1 2023 racing game is
released for the PlayStation 4, PlayStation 5, Xbox One, Xbox Series X/S, and
PC.
July 2023: The Need for Speed Heat Studio
app is released, allowing players to create and share custom liveries for cars
in the Need for Speed Heat racing game.
August 2023: The Assetto Corsa Competizione
2023 Season 3 DLC is released, adding new cars, tracks, and features to the
game.
September 2023: The Gran Turismo 7 Vision Gran
Turismo series is expanded with new concept cars from manufacturers such as
Bugatti, Lamborghini, and Porsche.
October 2023: The iRacing 2023 Season 4 update
is released, adding new cars, tracks, and features to the game.
November 2023: The Forza Horizon 5 Winter
Festival is held, bringing new events, challenges, and rewards to the game.
December 2023: The Need for Speed Heat Heatwave
Festival is held, bringing new events, challenges, and rewards to the game.
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