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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