Microsoft first designed gaming steering wheels in the year 1997. It is also known as the force feedback wheel or gaming wheel designed to improve gamers' gaming experience. These gaming wheels are designed to give a real-time experience to gamers playing racing games on a virtual platform. The gaming wheel can feel real-time experience such as vibration, torque, friction, and running engine, as the gaming wheel reproduces the same notion.
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The Global Gaming Steering Wheels Market is expected to reach USD 2,473.85 million by 2028 from USD 1,362.17 million in 2020, growing with a CAGR of 8.0% in the forecast period of 2021 to 2028. The possible growth of the market has been highly boosted due to the growing adoption of augmented and virtual reality for racing games and the increasing demand for cloud-based gaming across the globe. The high cost of gaming wheels can be a major restraint factor for the global gaming steering wheels market.
Growing gaming culture across the world will drive the market's growth rate
The digital gaming culture is growing in every region of globe owing to various factors such as the growing interest of youth towards video gaming due to real-life experience offered by highly advanced games, growing sporting culture in real-life scenarios such as racing games which game developer incorporates in a virtual world. The COVID-19 pandemic restricted everyone from going out, increasing the importance of recreational activities among the people. There is a huge shift in culture towards video gaming. Therefore, it could act as driving force that could boost the growth of the global gaming steering wheels market.
Report Scope and Market Segmentation
Report Metric
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Details
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Forecast Period
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2021 to 2028
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Base Year
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2020
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Historic Years
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2019 (Customizable to 2013 - 2018)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Weight (2.1-4.0 kg, 4.1-6.0 kg, 6.1-8.0 kg, 0-2.0 kg, More Than 8.0 Kg), Clutch Pedal (With Clutch Pedal, Without Clutch Pedal), Distribution Channel (Online, Offline)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Logitech (Switzerland), Endor AG (Germany), Thrustmaster (France), HORI CO. LTD. (U.S.), NUMSKULL (U.K.), and Flashfire Accessories Inc. (Canada) among others.
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand
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Segment Analysis:
The global gaming steering wheels market is segmented into three notable segments based on the weight, clutch pedal, and distribution channel.
The with clutch pedal segment will dominate the clutch pedal segment of the gaming steering wheels market
The with clutch pedal segment will emerge as the dominating segment under clutch pedal. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the semiconductors and electronics industry all around the globe will further bolster the growth of this segment.
The online segment will dominate the distribution channel segment of the gaming steering wheels market
The online segment will emerge as the dominating segment under distribution channel segment. This is because of the growing number of technological advancements in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the market players in market: Logitech (Switzerland), Endor AG (Germany), Thrustmaster (France), HORI CO. LTD. (U.S.), NUMSKULL (U.K.), and Flashfire Accessories Inc. (Canada).
Market Development
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in gaming steering wheels market during the forecast period 2021 - 2028
With a substantial market share, North America controls the game simulator business. The main market players in the area include CXC Simulations, D-BOX TECHNOLOGIES INC., and Razer Inc. Demand for gaming steering wheels is anticipated to increase as more theatres in the area install racing platforms to support motorsports and e-sports.
Asia-Pacific is estimated to be the fastest-growing region in gaming steering wheels market the forecast period 2021 - 2028
The market for gaming steering wheels is anticipated to increase in Asia-Pacific as a result of the region's increasing number of e-sport contests. The market is expected to grow as online games and specially-created gaming simulations gain in popularity.
COVID-19 Impact
The COVID-19 outbreak has increased demand and growth in some industries. One of these industries is the video gaming industry. While social distance restricts consumer and business activity to a minimum, gaming considerably provides an amusing diversion for people at home who long for social contact. The statistics also showed a sharp rise in playing time and sales after the lockdowns started. For instance, the global video game business is anticipated to be worth US$ 159,000 million in 2020, according to Newzoo, a company that provides gaming analytics and market data. With roughly half of the global value of the games industry's sales, Asia-Pacific is the most valuable market in terms of revenue.
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Global Gaming Steering Wheels Market – Industry Trends and Forecast to 2028
North America Gaming Steering Wheels – Industry Trends and Forecast to 2029
Europe Gaming Steering Wheels Market – Industry Trends and Forecast to 2028
Asia-Pacific Gaming Steering Wheels Market – Industry Trends and Forecast to 2028
Middle East and Africa Gaming Steering Wheels Market – Industry Trends and Forecast to 2028